Report : Filling Equipment Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Process (Manual, Semi-Automatic, and Automatic), Product (Solid, Semi-Solid, Liquid, and Powder), and End-user (Food & Beverage, Pharmaceutical, Cosmetic, and Others)
According to the latest research report titled “Filling Equipment Market Forecast to 2027 – COVID-19 Impact and Global Analysis,” published by The Insight Partners, the market is expected to reach US$ 10.62 billion by 2027, registering a CAGR of 2.4% during 2020–2027.
Filling Equipment Market in APAC to Grow at Highest CAGR during 2020–2027
The pharmaceutical market in APAC is growing rapidly. Countries such as India, China, Japan, Thailand, and Indonesia are experiencing heavy investments in life sciences companies in the field of R&D, manufacturing, marketing, and sales. The growth of the filling equipment market in the pharmaceutical sector is driven by the growing generic and biopharmaceutical markets, rising offshore pharmaceutical manufacturing, surging robust and unified packaging equipment requirement, accelerating pharmaceutical products contract manufacturing, growing regulatory introduction on packaging and strict rules upon counterfeit products, and increasing innovative packages demand.
The use of filling equipment in the food & beverages industry in APAC is also noticing tremendous growth owing to surging demand for packaged products due to the rising middle-class and working-class population. Moreover, the contract food processing and manufacturing in the region is increasing due to the availability of low-wage labor in a few of the developing economies. Several key food and beverages companies are shifting their production facilities or are expanding their operations across APAC owing to the increasing demand from consumers. For instance, in 2018, De Heus opened a second feed plant, nestle opened a factory, and Trouw Nutrition opened a manufacturing facility in Myanmar. In 2019, Nestle opened a new factory in the Philippines. According to the ASEAN Investment Report 2019 by UNCTAD, Japan is investing in several countries in APAC. For instance, the total outward FDI from Japan to ASEAN food & beverages sector accounted to US$ 3,492 million in 2018.
Key Findings of Study:
The food & beverages packaging industry in India is growing with an exponential rate owing to rising consumption of processed and packed products; increasing middle-class population, lifestyle changes, and modern retail trade; and rising awareness for healthy food consumption among consumers. Also, the country is among the top five packaged food markets globally, and ranks second in Asia Pacific. Germany, Switzerland, Italy, Taiwan, and the US are a few key packaging equipment suppliers to the Indian market. Also, India is ranked as the third-largest pharmaceutical market in APAC. The country has more than 100 US FDA-approved manufacturing facilities, whereas China had only 28 facilities in 2018. Therefore, the rise in food & beverages and pharmaceutical industry is propelling the demand for filing equipment.
Today, cosmetics are becoming the essential commodities; thus, its market is growing rapidly. Cosmetics products seek attractive packaging styles, and the entire packaging industry revolves around consumer preference. The demand for novel packaging plays a significant role in driving sales. For instance, to use face creams, consumers do not like to stick their fingers into a jar. Thus, companies are providing creams in pump packages. Further, under hair care products, the demand for shampoo is very high. According to Drug Store News, the sales value of shampoo was valued at US$ 554.18 million in 2018, and it is anticipated to increase every year. Therefore, liquid filling equipment may support shampoo manufacturers to meet the growing demand.
The automatic filling equipment is a machine utilized for packaging several products such as food & beverage products, granular, and powder. The automatic filling machines utilize different containers based on the product that can be filled in bottle or bag. The automatic filling machine plays an important role in the assembly line system that decides the flow of the entire packaging process. The automatic filling machine is deployed by facilities involved in liquid-based products, such as chemicals, milk, and beverages. They are ideal for the filling of almost any liquid product.