The global filling machine market size is estimated to reach US$ 8.9 billion by 2025, growing at a compound annual growth rate (CAGR) of 4.2 per cent over the forecast period, as per a latest report by Grand View Research, Inc.
Citing reasons for the growth, the report mentioned, “Technological developments in packaging and filling machinery, changing consumer lifestyles, dietary shifts, and robotics and automation in filling machines are some of the factors projected to drive growth.”
With regards to filling machine market in India, the report said, “As of 2018, Make in India and other initiatives by the Indian government have been successful in offering new opportunities for industrial development and employment, which, in turn, is favouring the market growth of filling machine in the country.”
“The filling machine market in India, in terms of revenue, is expected to reach US$ 904.6 million by 2025 over the forecast period,” it added.
The US market, in terms of revenue, is anticipated to progress at a rate of 7.4 per cent over the forecast period, according to the report.
The UK market, in terms of revenue, accounted for US$ 297.8 million in 2018 and is projected to witness significant growth by 2025.
UK automatic filling machine segment is expected to witness a CAGR of 2 per cent.
Factors for growth
Favorable government frameworks and policies for packaging machinery services are expected to present huge growth opportunities in the market. Government regulations control and safeguard industrial processes and provide a framework for hygiene and product standardisation, which, in turn, is likely to enhance business growth over the forecast period. However, increasing cost of energy and power may hinder growth of the market.
The demand for filling machine in the beverage industry is projected to contribute heavily to the market growth. In addition, technological advancements are likely to boost sales in the overall market scenario. Industrialization, technological support, desired production output, robotics, and minimum human intervention are some of the factors attracting manufacturers to opt for technological support in operational processes.
In terms of product, volumetric filling machine was among the dominant segments in 2018 and is expected to grow at a CAGR of 4.5 per cent over the forecast period. Volumetric filling machines are especially used in food and beverage industry to fill the specified and exact amount of pastes, liquids, and creams into products. These machines are efficient, simple to clean, and have low maintenance cost with high-performance ratio. Aseptic filling machine segment is expected to register prominent growth at a CAGR of 4.4 per cent by 2025.
In terms of mode of operation, automatic filling machine is expected to be the dominant segment by 2025, in terms of revenue, and account for a market share of over 50 per cent. It is expected to emerge as the fastest-growing segment, with a CAGR of 4.9 per cent over the forecast period.
Technological developments and the adoption of industry 4.0, green manufacturing practices, and eco-friendly packaging processes and products are among the factors that are likely to trigger the filling machine market growth over the forecast period.