The beverage carton packaging machinery market is estimated at USD 746.9 Million in 2017 and is projected to reach USD 840.7 Million by 2022, at a CAGR of 2.39%.
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The report "Beverage Carton Packaging Machinery Marketby Type (Horizontal End Side-Load, Top-Load, Wraparound, Vertical Leaflet, Vertical Sleeve), Functional Automation (Automatic, Semi-Automatic), Application, Region - Global Forecast to 2022", The growth of the beverage carton packaging machinery market can be attributed to an increase in the consumption of personal care & hygiene products in emerging economies and rise in the number of production facilities of beverage carton packaging machinery.
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The automatic segment is projected to grow at the highest CAGR during the forecast period
Based on functional automation, the automatic segment is projected to grow at the highest CAGR during the forecast period.
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The growth rate of automatic machines is higher than semi-automatic machines because of their better operating efficiency. Furthermore, automatic machines reduce labor and material cost and improve the fiber utilization of the materials used for packing.
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The horizontal end-side load cartoners segment is projected to be the fastest-growing type in the beverage carton packaging machinery market
Based on type, the horizontal end-side load cartoners segment is expected to grow at the highest CAGR between 2017 and 2022. Horizontal end side-load cartoners can achieve very high speeds for high demand applications, thereby making them the most widely used machinery type.
Moreover, these machines are most commonly used in the packaging industry owing to their characteristics such as compact footprint, flexible design, and affordable price.
The Asia Pacific beverage carton packaging machinery market is projected to grow at the highest CAGR during the forecast period
Asia Pacific accounted for the largest share of the beverage carton packaging machinery market in 2016. This market in the Asia Pacific region is projected to grow at the highest CAGR from 2017 to 2022.
Among all countries in the Asia Pacific region, the beverage carton packaging machinery market in China is projected to grow at the highest CAGR during the forecast period. The North American market is expected to grow at the second-highest CAGR between 2017 and 2022, with the US registering the highest growth rate in the region.
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Key players operating in the beverage carton packaging machinery market include Langfang Best Crown Packing Machinery (China), ACG Worldwide (India), KHS (Germany), Krones (Germany), GPI Equipment (US), Bosch Packaging Technology (Germany), Econocorp (US), Jacob White Packaging (UK), Bradman Lake Group (UK), and Mitsubishi Electric (Japan). These players have adopted various growth strategies to expand their global presence and increase their market share.
Mergers & acquisitions, expansions, and new product launches are some of the major strategies adopted by key players operating in the beverage carton packaging machinery market.
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