The cartoning machines market is poised for significant growth, with the global market size projected to reach US$ 4,748.10 million by 2023. The cartoning machines are expected to witness a robust CAGR of 5% from 2023 to 2033. By 2033, the cartoning machines industry is anticipated to reach a valuation of US$ 7,734.15 million.
This growth is driven by several key factors:
- Technological Advancements: Innovations in automation and robotics enhance efficiency and reduce labor costs.
- Rising Demand in Food & Beverage: Increased consumption and packaging requirements in the food and beverage industry propel market expansion.
- Pharmaceutical Sector Growth: Stringent packaging regulations and increasing pharmaceutical production bolster demand for cartoning machines.
- E-commerce Expansion: Growing online retailing necessitates efficient packaging solutions, driving adoption of cartoning machines.
- Environmental Sustainability: Shift towards sustainable packaging solutions encourages adoption of eco-friendly cartoning technologies.
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Market Growth Stifled: Analyzing the Role of Integrated Packaging Machine
Well-known manufacturers are creating improved machines by including wrapping, tagging, or palletizing features, making them more efficient by lowering operation time. It raises the total cost of production.
The climatic conditions’ imbalance impacts the operation of traditional equipment that folds and glues the carton. As a result, a cartoning machine’s unexpected failure causes wrinkling, carton tearing, or shredding, increasing the frequency of required maintenance. It is difficult for small and medium-sized equipment makers to include the high maintenance costs.
Key Takeaways
- With an estimated revenue of 39.5%, Asia Pacific holds the leading share of the cartoning machines market.
- Europe may hold the second-leading portion of the cartoning machines industry in 2023, with a revenue share of 29%.
- North America has a 23% revenue growth in the cartoning machines business.
Competitive Landscape
The competition in the cartoning machines market is intense and dynamic. Key cartoning machine market players continuously innovate to offer advanced and efficient solutions. The cartoning machine manufacturers focus on integrating smart technology, ensuring flexibility, and meeting sustainability demands.
Cartoning machine manufacturers are vying to capture emerging markets, especially in Asia. Collaborative robotic systems and quick changeover capabilities have become differentiators for gaining a competitive edge. Overall, the market’s competitive landscape is driven by the pursuit of excellence in meeting diverse packaging requirements and addressing industry challenges.
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Recent Developments
- Douglas Machine Inc. launched the ‘Axiom IM case packer’ in July 2019, with speeds of up to 34 cases per minute for packaging frozen food cartons.
In August 2018, the kliklok midrange endload cartoner was unveiled by Robert Bosch LLC. This state-of-the-art carton is designed to meet rigorous food safety standards while optimizing production efficiency. With an impressive capacity, it can pack up to 170 cartons per minute, ensuring maximum business output.
Key Segments
By Machine Type:
- Vertical
- Horizontal
By Packaging Material:
- Paperboard
- Corrugated Fiberboard
By End User:
- Food & Beverages
- Pharmaceuticals
- Cosmetics
- Personal Care
By Region:
- North America
- Latin America
- Asia Pacific
- The Middle East and Africa
- Europe
About Future Market Insights Inc. (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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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