The global oil packing machine market is on a path of steady growth, as indicated by Future Market Insights research. In 2022, the market is valued at US$ 225.6 million, and it is projected to achieve a Compound Annual Growth Rate (CAGR) of 4.3%, reaching US$ 344.6 million by 2032. This upward trajectory is supported by the dominance of the top 5 companies, which are expected to collectively hold 20-25% of the global oil-packing machine market by the end of 2022.
One significant trend driving this market is the increasing demand for automation. The automatic oil packing machine segment, categorized by its level of automation, is poised to capture approximately 70% of the market value share by 2032. This shift towards automation is propelled by end-use industries adopting the latest technology to enhance efficiency and streamline their packaging processes. As industries seek more efficient and cost-effective solutions, the global oil packing machine market is set to benefit from this growing trend, fostering continued growth in the years to come.
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Oil Packing Machine Market Landscape
The key players operating in the global oil-packing machine market are
- Niverplast B.V.,
- Turpack Makine Sanayi ve Ticaret Ltd. Sti.,
- GEA Group,
- SN Maschinenbau GmbH, and
- Gemseal Abhilash Industries.
Also, some of the other noticeable players in the market are
- Siklmx Co. Ltd.,
- Nichrome Packaging Solutions,
- Foshan Land Packaging Machinery Co. Ltd.,
- Turpack Packaging Machinery, LPE (Levapack),
- APACKS, and others.
Key Takeaways from Oil Packing Machine Market
- Automatic oil packing machines are expected to remain dominant during the forecast period due to their improved production speed, reduced labour costs and improved quality control. This segment is projected to create the highest revenue opportunities of US$ 89.6 Mn by 2032.
- VFFS oil packing machines are the most preferred among the oil packaging manufacturers due to their enhanced efficiency, convenience and broad deployability. This orientation segment is expected to account for around half portion the market share by value during the forecast period.
- Food as an end use is likely to create consistent demand for oil packing machines in the forecast period. The oil packing machine used in the food industry is anticipated to witness an expansion of 1.4x its current market value due to increasing consumer preference for safe and hygienic packaging rather than manual or traditional packaging.
- South Asia is expected to be the lucrative region owing to a rise in the manufacture and sales of oil packing machines. The growth in this region is attributed to the growing population, flourishing food industry and ready buyers who are in need to buy these machines.
“Shifting buying patterns of consumers from traditional loose oils to packed oils due to food safety and hygiene is expected to augment the growth of the oil packing machine market in the coming years. Moreover, the oil packing machine manufacturers are focusing on advanced technologies such as automation to enhance the overall productivity and efficiency.”–comments FMI Analyst
Food is expected to remain the Dominant End Use Segment for Oil Packing Machine Market
The usage of oil packing machines in the food industry contributes almost 43% of the total product market and is projected to reach US$ 139.8 Mn by the end of 2032. Oil packing machines are widely used in the food industry for packaging edible oils and other cooking oils. The oil packing machine market is witnessing a great demand from the food industry due to the growing population coupled with expanding food service sector, thereby creating demand for edible oils from the end users. Overall, the flourishing food industry will likely boost the demand for oil packing machines in the forecast period.
Impact of COVID-19 on Oil Packing Machine
The COVID-19 outbreak had devastating impacts on the global economy. These impacts are also being felt by the oil packing machine market. The COVID-19 spread severely impacted manufacturing and industrial activities, which resulted in reduced product sales during the pandemic. The closure of food production units, restrictions in the movement of workers, and restricted food trade policies have resulted in food supply chain disruptions, thereby creating a downfall in the oil packing machine market.
Moreover, the closure of hotels, restaurants and cafes amid the pandemic had resulted in reduced demand for edible oil. This reduced consumption of edible oil had shown a decline in demand for oil packing machines by the manufacturers. The slowdown in the automobile industry resulted in reduced demand for motor oil, which, in turn, affected the demand for oil packing machines from the oil and lubricant industries. Overall, the reduced consumption of oil, has resulted in a decline in demand for oil packing machines from the end-use industries during the pandemic.
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Oil Packing Machine Market by Category
By Automation:
- Automatic
- Semi-automatic
By Orientation:
- VFFS Machine
- HFFS Machine
By End Use:
- Food
- Cosmetic & Personal Care
- Pharmaceutical
- Oil & Lubricant
Author:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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