LONDON–(BUSINESS WIRE)–Mar 11, 2020–
The global end-of-line packaging market is expected to grow by USD 4.34 billion during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled Global End-of-Line Packaging Market 2020-2024 (Graphic: Business Wire)
Growing health consciousness among consumers has increased the consumption of healthy drinks, such as keto-friendly drinks, sugarless fruit drinks, and others. Also, the consumption of milk and other dairy-based beverages is increasing across the world. The growing consumption of such beverages is increasing the demand for end-of-line packaging systems. This is because steps such as labeling, proper retail display packaging, casing, and cartoning are crucial for the sale of packaged beverages. Therefore, the increasing consumption of beverages is expected to contribute to the growth of the global end-of-line packaging market during the forecast period.
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As per Technavio, the pharmaceutical requirements with respect to end-of-line packaging systems will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
End-Of-Line Packaging Market: Pharmaceutical Requirements With Respect To End-Of-Line Packaging Systems
Vendors in the market are introducing end-of-line packaging systems that can print the labels with lot numbers, product codes, timestamps, batch numbers, and GTINs both on secondary and tertiary packages. This information helps pharmaceutical companies to track their products throughout the supply chain. Pharmaceutical companies are also partnering with market vendors to design flexible tools to handle large product sizes. This helps them reduce the total cost of ownership, which includes installation, labor, and maintenance costs. This trend is expected to have a positive impact on the growth of the global end-of-line packaging market during the forecast period.
“The availability of end-of-line equipment for various applications and the increasing exports of packaging machinery from Germany will further boost market growth during the forecast period,” says a senior analyst at Technavio.
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End-Of-Line Packaging Market: Segmentation Analysis
This market research report segments the end-of-line packaging market by product (labeling equipment, wrapping equipment, and palletizing equipment), and geography (APAC, Europe, MEA, North America, and South America).
The European region led the end-of-line packaging market in 2019, followed by APAC, North America, South America, and MEA. During the forecast period, Europe is expected to register the highest incremental growth due to the rising demand for end-of-line packaging from pharmaceuticals, dairy, and packaging machinery industries in the region.
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Some of the key topics covered in the report include:
- Labeling equipment
- Wrapping equipment
- Palletizing equipment
- North America
- South America
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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CONTACT: Technavio Research
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INDUSTRY KEYWORD: FOOD/BEVERAGE HEALTH RETAIL FITNESS & NUTRITION PHARMACEUTICAL
SOURCE: Technavio Research
Copyright Business Wire 2020.
PUB: 03/11/2020 08:15 PM/DISC: 03/11/2020 08:15 PM
Copyright Business Wire 2020.