PUBLISHER: The Business Research Company | PRODUCT CODE: 1425279
PUBLISHER: The Business Research Company | PRODUCT CODE: 1425279
Beverage Carton Packaging Machinery Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on beverage carton packaging machinery market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for beverage carton packaging machinery? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The beverage carton packaging machinery market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Beverage carton packaging machinery is a specialized type of equipment commonly employed to ensure the protection and preservation of fresh food and beverage products during distribution, whether at room temperature or in refrigerated conditions.
The primary categories of beverage carton packaging machinery include horizontal end side-load, top-load, wraparound, vertical leaflet, and vertical sleeve. Horizontal end-side-load involves the opening of the bag, and a horizontal machine loads the products into the film from the top. These machines are available in both automatic and semi-automatic forms. Applications for beverage carton packaging machinery span across alcoholic beverages, soft drinks, and dairy beverages.
The beverage carton packaging machinery market research report is one of a series of new reports from The Business Research Company that provides beverage carton packaging machinery market statistics, including beverage carton packaging machinery industry global market size, regional shares, competitors with a beverage carton packaging machinery market share, detailed beverage carton packaging machinery market segments, market trends and opportunities, and any further data you may need to thrive in the beverage carton packaging machinery industry. This beverage carton packaging machinery market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The beverage carton packaging machinery market size has grown strongly in recent years. It will grow from $1.14 billion in 2023 to $1.2 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The growth witnessed in the historical period can be credited to advancements in carton sealing technologies, the integration of user-friendly interfaces in packaging machinery, diversification in beverage product portfolios, stringent quality control and assurance measures, and a notable industry-wide shift towards sustainable packaging practices. These factors collectively contributed to the positive trajectory of the sector during that time.
The beverage carton packaging machinery market size is expected to see strong growth in the next few years. It will grow to $1.49 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The projected growth in the forecast period can be credited to factors such as the prevalence of user-friendly interfaces, a heightened demand for aseptic packaging, the integration of robotics in packaging processes, the expansion of the global market, and a strategic focus on cost optimization. Key trends expected during this period include a surge in sustainable packaging demands, a notable increase in product diversification, continuous advancements in automation, a heightened focus on hygiene and safety protocols, and a noticeable rise in customization to meet diverse consumer preferences.
The growth of beverage carton packaging machinery is anticipated to be propelled by the increasing use of green packaging materials. Green or sustainable packaging aims to minimize energy consumption and reduce environmental impact during production. Carton packaging is identified as one of the sustainable options contributing to the demand for beverage carton packaging machinery. For instance, in March 2022, the Global Buying Green Report 2021 indicated that the market for environmentally friendly packaging in the United States was projected to reach US$ 42.7 billion in 2021 and globally surge to US$ 252.3 billion by 2026. Consumers' willingness to pay more for sustainable packaging stands at 71%, rising to 83% among younger purchasers. This shift towards green packaging materials is a driving force behind the growth of the beverage carton packaging machinery market.
The growth trajectory of the beverage carton packaging machinery market is closely linked to the expanding beverage industry. As a global network encompassing both non-alcoholic and alcoholic beverages, the beverage industry plays a pivotal role in driving the demand for beverage carton packaging machinery. This machinery is crucial for the secondary packaging of beverages in cartons, facilitating the creation of cartons around the primary packaging and ensuring the safe filling of these cartons. For instance, in September 2022, the Distilled Spirits Council reported significant growth in the sales and volume of ready-to-drink spirits-based beverages. Revenue from suppliers of pre-mixed cocktails or spirits-based RTDs (ready to drink) experienced a notable increase, reaching $1.6 billion in 2021. The upward trend in the beverage industry is a key factor fueling the growth of the beverage carton packaging machinery market.
A prevailing trend in the beverage carton packaging machinery market is the embrace of technological advancements by major industry players. Companies are actively investing in new technologies, research, and development initiatives to secure a competitive edge. In October 2021, Advanced Tooling Systems (ATS) Packaging, a UK-based provider of advanced tooling systems, introduced the Gemini linear machine, a capping machine tailored for food and beverage applications. This innovative machine boasts fully programmable high-precision tightening technology suitable for various closures, including screw caps, push-on caps, dispensing pumps, and spray triggers. Its versatility is evident in its configurability, accommodating one to eight capping heads and achieving speeds of up to 80 packs per minute based on the container handling system employed.
Major players in the beverage carton packaging machinery market are actively engaged in developing innovative products, with a focus on motion cartoner machines. Motion cartoner machines play a pivotal role in the secondary packing of beverages and other products into cartons. In February 2023, ELITER Packaging Machinery, a China-based packaging machine manufacturer, unveiled an intermittent carton machine. This machine boasts a packaging capacity of up to 80 cartons per minute, featuring a low-maintenance design, an open profile, and a multiaxis servo-driving system for enhanced efficiency. With a balcony-style and stainless-steel frame, the intermittent carton machine represents a notable product innovation in the beverage carton packaging machinery market.
In January 2022, SIG, a Switzerland-based packaging machinery manufacturing company, executed a strategic acquisition by acquiring Evergreen carton packaging and filling machinery for $335 million. This move is aimed at expanding SIG's chilled carton packaging business in East Asia. The acquisition of Evergreen Asia, an India-based provider of packaging solutions, not only broadens SIG's clientele but also signifies a strategic step to strengthen its position in the evolving beverage carton packaging machinery market.
Major companies operating in the beverage carton packaging machinery market report are KHS GmbH, Econocorp Inc., Jacob White Packaging, Bradman Lake Group, Mpac Group plc., Douglas Machine Inc., Sidel, Krones AG, Tishma Technologies, R.A. Jones Bradman Lake Group Ltd., Mitsubishi Electric Corporation, Langfang Best Crown Packing Machinery Co. Ltd., ACG Group, GPI Equipment, Syntegon Technology, Cariba Srl, Bosch Packaging Technology, Tetra Pak, SIG Combibloc Group AG, Combi Packaging Systems LLC, Pakmatic Company, Pak-Tec Inc., Serac Group, Elopak, Uflex Ltd., IPI srl, BERICAP, Galdi, Nichrome India Ltd., and OCME S.r.l.
North America was the largest region in the beverage carton packaging machinery market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the beverage carton packaging machinery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the beverage carton packaging machinery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The beverage carton packaging machinery consists of sales of shrink wrapping machines, semi-automatic strapping machines, and biaxially oriented polypropylene (BOPP) carton sealing machines. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.