LONDON--(BUSINESS WIRE)--The end-of-line packaging market size is poised to grow by USD 4.03 billion during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The global packaged beverage consumption is expected to record an average annual growth rate of about 2.8% during the forecast period. The growing consumption of packed beverages is expected to increase the demand for end-of-line packaging system. This is because labeling, proper retail display packaging, casing, and cartoning are necessary to promote the sales of the packaged beverages. Irrespective of the types of primary packaging such as glass, carton, and cans, proper end-of-line packaging is required to improve product safety especially during transportation and storage. Thus, the growing consumption of packaged beverages will drive the growth of the market during the forecast period.
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As per Technavio, pharmaceutical industry 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 important trends and market drivers that will affect market growth over 2019-2023.
End-of-Line Packaging Market: Pharmaceutical Industry Requirements with Respect to End-Of-Line Packaging Systems
End-of-line packaging has become a complicated process for pharmaceutical manufacturers due to the implementation of the regulations to enhance the traceability of the products in the supply chain. For instance, the Drug Quality and Security Act of 2013 had mandated serialization in the US pharmaceutical product supply chain from 2017. The implementation of serialization increases the requirements of data carriers, including RFID tags and 2D barcodes. Vendors in the market are engineering end-of-line packaging systems that can print the labels with lot numbers, product codes, timestamps, batch numbers, and global trade identification numbers (GTINs) both on secondary and tertiary packages. Thus, pharmaceutical industry requirements with respect to end-of-line packaging systems will drive the growth of the market during the forecast period.
“Factors such as the rising packaging machinery exports in Germany and the increasing e-commerce market in North America will have a positive impact on the growth of the end-of-line packaging market value 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 by region (Americas, APAC, and EMEA).
The EMEA region led the end-of-line packaging market in 2018, followed by the Americas and APAC respectively. During the forecast period, EMEA is expected to maintain its dominance and register the highest incremental growth due to factors such as the easy availability of advanced manufacturing facilities and the growth of packaging machinery production in Europe.
Technavio’s sample reports are free of charge and contain multiple sections such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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