Development of innovative and energy efficient packaging machinery, rise in usage of automation in the packaging industry, and surge in global consumption of consumer goods drive the growth of the global pillow packing machine market. Based on machine type, the horizontal FFS segment generated the highest share in 2020. By region, on the other hand, LAMEA would cite the fastest CAGR by 2030.
Portland,OR, Dec. 09, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global pillow packing machine market was estimated at $6.75 billion in 2020 and is expected to hit $11.81 billion by 2030, registering a CAGR of 5.6% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Development of innovative and energy efficient packaging machinery, rise in usage of automation in the packaging industry, and surge in global consumption of consumer goods drive the growth of the global pillow packing machine market. On the other hand, stringent government regulations restrict the growth to some extent. However, advancements in the e-commerce and retail industry are anticipated to create lucrative opportunities in the industry.
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Huge decline in sales of FMCG products impacted the global pillow packing machine market negatively, especially during the initial phase.
However, as the global situation is getting better, the market is expected to revive soon.
The global pillow packing machine market is analyzed across end user industry, machine type, sales type, and region. Based on end user industry, the food & beverage segment accounted for the major share in 2020, holding around three-fifths of the global market. The pharmaceutical segment, on the other hand, would grow at the fastest CAGR of 6.8% throughout the forecast period.
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Based on machine type, the horizontal FFS segment generated the highest share in 2020, accounting for around two-thirds of the global market. The vertical FFS segment, however, is projected to manifest the fastest CAGR of 6.1% from 2021 to 2030 .
Based on region, the market across Asia-Pacific held the lion’s share in 2020, garnering around one-third of the global market. The market across LAMEA, simultaneously, is expected to cite the fastest CAGR of 6.5% by the end of 2030.
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The key market players analyzed in the global pillow packing machine market report include Fuji Machinery Co., Ltd., GHD Hartmann, Honor Packaging Machinery Co., Ltd, K-Flex Packaging Systems, MLT Pack Services, Tai Dragon Machinery Co., Ltd., Robert Bosch GmbH (Syntegon Technology GmbH), Sanko Machinery Co., Ltd., Sanwa Plus Ltd., and CKD Corporation. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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