Filling equipment are the machines used for filling solid, semi-solid and liquid form of products in the holding containers such as box, bag, pouch or bottle.
PORTLAND, OR, UNITED STATES, January 5, 2021 /EINPresswire.com/ — According to a recent report published by Allied Market Research, titled, “Filling Equipment Market by Sales Type, Process Type, Product Type and End-user Type: Opportunity Analysis and Industry Forecast, 2020–2027,” the global filling equipment market size accounted for $17.8 billion in 2019 and is expected to reach $23.5 billion by 2027, registering a CAGR of 3.9% from 2020 to 2027. In 2019, Asia-Pacific dominated the global market, in terms of revenue, accounting about 35.6% share of the global filling equipment industry, followed by Europe, North America and LAMEA.
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There is growing demand for packaged food mainly because of the rising busy lifestyle. Further, easy availability of packaged food is also boosting the sales of packaged food. Hence, the rise in packaged food market will drive the filling equipment market growth. Moreover, the fast moving consumer goods (FMCG) industry is witnessing rapid growth and forming an integral part of the economy. For example, FMCG is among the top 5 largest sectors in the Indian economy. Further, many major players such as Krones AG, Salzgitter AG (KHS Group) and others, have planned to invest millions of dollars in the expansion projects that are to be carried out during the forecast period to diversify the product portfolio and offer better service to the customers.
Thus, rise in use of FMCG products and pharmaceutical products has led to increase in production capacity, which eventually increases the sales of new filling equipment and also increases the need of spare parts due to corrosion of the equipment. For instance, Unilever is opening a new plant in Dubai that will be producing beauty and personal care products. The company has planned to invest $250-$300 million for a 100,000 square meter plant. Thus, such expansions will help in the filling equipment market growth during the forecast period
In terms of sales type, the new machinery segment secured the highest share of over 73.1% in the global filling equipment market in 2019 and is expected to grow at a CAGR of over 4.0% during the forecast period. In terms of process type, the automatic filler segment is expected to contribute the highest filling equipment market share in the coming years, as rise in the production of consumable products is estimated to fuel its growth. The pharmaceutical segment is expected to grow at the highest CAGR during the forecast period.
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Region wise, the filling equipment market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy and rest of Europe), Asia-Pacific (China, Japan, South Korea, India and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
Key Findings Of The Study
On the basis of sales type, the new machinery segment was the highest revenue contributor in 2019.
On the basis of process type, the automatic segment was the highest revenue contributor in 2019.
On the basis of product type, the liquid segment was the highest revenue contributor in 2019.
On the basis of end-user industry, the beverage segment was the highest revenue contributor in 2019.
On the basis of region, Asia-Pacific contributed the highest in filling equipment market share in 2019, followed by Europe, North America and LAMEA.
The key players analyzed in the global filling equipment market are Accutek Packaging Equipment Companies, Inc., Coesia S.p.A, GEA Group Aktiengesellschaft, JBT, Krones AG, Ronchi Mario S.p.A, Salzgitter AG (KHS Group), Scholle IPN, Syntegon Technology GmbH and Tetra Laval International S.A.Majority of the players have adopted strategies such as business expansion, acquisition, and product launch. For example, in January 2018, GEA acquired VIPOLL d.o.o a Slovenian machine manufacturer of beverage processing industry such as soft drinks, beer and fresh dairy products with an aim to expand its portfolio and strengthens its market position. At another instance, in November 2018, Krones launched a completely revamped Modulfill HES machine, which performs operations such as bottle in feed, filling & closing and bottle discharge. New technology in the machine of the filling system by offers enhanced friendly operations, safety, space savings and hygiene.
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Source: EIN Presswire