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The global cartoning machines market is experiencing growth on the back of evolution of packaging machinery. Design improvements and efforts for capacity expansion, automation, and quick change over that have been focus of manufacturers of packaging machines have been instrumental in evolution of cartoning machines as well. This is because introduction of innovative machines which is a part of branding and marketing strategy of cartoning machine manufacturers is helping these companies earn a brand name as well.
The expanding healthcare sector is also stoking growth of the global cartoning machines market. The need to transport and store a range of clinical products is providing opportunities to product manufacturers to develop specialized machines.
A report by Transparency Market Research (TMR) estimates the global cartoning machines market will expand at a CAGR of 5.1% between 2017 and 2025, for the market to become worth US$6.7 bn by 2025 end from US$4.3 bn in 2016.
Food End-use Segment to Hold Leading Share through 2025
The segments of the cartoning machines market based on machine type include top-load machines, end-load or side-load machines, and wrap-around machines. Of them, end-load cartoning actions is likely to continue to remain attractive due to their widespread demand in the food industry for ease of stacking. However, wrap-around cartoning machines are likely to outpace other segments in terms of growth rate over the forecast period. This is because of aesthetic appeal of wrap-around cartons as well as better sealing properties than other carton types. On the other hand, high price factor of top-load cartoning machines is restraining the growth of this segment.
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In terms of orientation, the key segments of the global cartoning market are vertical cartoning and horizontal cartoning machines. Currently, the horizontal cartoning machines segment leads the market due to its affordability ad higher flexibility to accommodate a range of carton sizes. The horizontal orientation is suitable for end-load cartons, whereas the vertical orientation is suitable for top-load cartons. The high demand for end-load cartons accounts for the dominance of horizontal orientation cartoning machines.
By end-use industry, the segments into which the global cartoning machines market has been classified is beverage, personal care, healthcare, homecare, food, and other industries. Of them, the food segment is likely to hold the leading 35.6% market share over the 2017-2025 forecast period. However, the healthcare segment is likely to outpace displaying the leading CAGR of 5.7% between 2017 and 2025.
Driven by China and India, Asia Pacific holds Dominant Share
The global cartoning machines market is segmented geographically into five key regions, namely North America, Europe, Latin America, the Middle East and Africa, and Asia Pacific. Amongst all, Asia Pacific is estimated to hold the leading 38.5% market share in 2017. Going forward, the region is expected to gain in terms of market share due to substantial growth of packaging machinery industry in China and India.
North America cartoning machines market is likely to display a sluggish growth losing 240 basis points in market share between 2017 and 2025. The Europe cartoning machines market is likely to display tepid growth over the 2017-2025 forecast period.
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