According to research conducted by Future Market Insights, the global oil packing machine market is poised for substantial growth in the coming years. In 2022, the market is expected to be valued at approximately US$ 225.6 million, and it is projected to witness a robust Compound Annual Growth Rate (CAGR) of 4.3%, reaching an impressive valuation of US$ 344.6 million by the year 2032.
It is noteworthy that the top 5 companies in the market are expected to collectively hold a significant market share, estimated at 20-25% of the global oil packing machine market by the end of 2022. This consolidation reflects the competitive landscape of the industry and the presence of key players driving market dynamics.
The growth of the oil packing machine market is anticipated to be driven by the increasing adoption of these machines across various end-use industries. These industries are increasingly turning to oil packing machines for safe and hygienic packaging solutions that not only enhance product safety but also boost productivity and efficiency. As a result, the oil packing machine market is likely to present an incremental opportunity of US$ 119.0 million between 2022 and 2032.
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How are the Technological Advancements Paving the Growth of the Oil Packing Machine Market?
The key players in the oil packing machine market are focusing on adopting advanced technologies such as introducing new filling techniques and automating operations. The introduction of automatic oil packing machines helps increase production to meet the large consumer demands and maintain high time and efficiency rate records in the filling process.
For instance,
- Clearpack introduced contactless and accurate net weight-filling technology for high-production environments.
How is Oil Packaging in Small SKUs, a Growing Trend Paving the Growth of the Oil Packing Machine Market?
One prominent trend contributing to this transformation is the packaging of edible oils in small Stock-Keeping Units (SKUs). This approach has witnessed substantial growth in the consumption of edible oils on a global scale. Consumers are increasingly opting for cooking oil packaged in small, flexible pouches. These pouches offer several advantages, including ease of portability and storage, as well as cost-effectiveness. As a result, the packaging of edible oils in small SKUs is expected to significantly boost the sales of oil-packing machines in the coming years.
Consumer buying patterns for edible oil have undergone a significant transformation in recent times. There is a notable shift in consumer preferences, driven by increased awareness of food safety and hygiene. This shift is characterized by a transition from loose, unbranded oil to packaged and branded oil products. Importantly, this change in consumer behavior is not limited to urban areas but is also prevalent in rural regions.
This consumer-driven shift towards packaged, small-quantity edible oil products underscores the importance of adapting to changing market dynamics and catering to evolving consumer preferences in the food and beverage industry.
Market Drivers:
- Growing Oil Industry: The expansion of the oil industry, including the production and distribution of edible and industrial oils, drives the demand for efficient and high-capacity oil packing machines.
- Hygiene and Safety: The importance of maintaining hygiene and safety standards in oil packaging, especially for food-grade oils, encourages the adoption of modern oil packing machines that minimize contamination risks.
- Productivity and Efficiency: Oil packing machines offer higher productivity and efficiency compared to manual or traditional methods, leading manufacturers to invest in automation for better output.
- Customization: Modern oil packing machines can be customized to accommodate various oil container sizes and types, providing flexibility to cater to different packaging needs.
- Sustainability: The adoption of eco-friendly packaging materials and processes, in line with environmental regulations and consumer preferences, is driving the development of sustainable oil packing machines.
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Key Players
- Niverplast B.V.
- Turpack Makine Sanayi ve Ticaret Ltd. Sti.
- GEA Group
- SN Maschinenbau GmbH
- Gemseal Abhilash Industries
- Nichrome Packaging Solutions
- Foshan Land Packaging Machinery Co. Ltd.
- Siklmx Co. Ltd.
- Turpack Packaging Machinery
- LPE (Levapack)
- APACKS
- Unitech Engineering Company
- Bestar Packaging Machine Co., Ltd.
Oil Packing Machine Market by Category
By Automation, the Oil Packing Machine Market is Segmented as:
- Automatic
- Semi-automatic
By Orientation, the Oil Packing Machine Market is Segmented as:
- VFFS Machine
- HFFS Machine
By End Use, the Oil Packing Machine Market is Segmented as:
- Food
- Cosmetic & Personal Care
- Pharmaceutical
- Oil & Lubricant
By Region, the Oil Packing Machine Market is Segmented as:
- North America
- Latin America
- Europe
- Middle East and Africa
- East Asia
- South Asia
- Oceania
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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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