Beverage Carton Packaging Machinery Market Growth & Trends
The global beverage carton packaging machinery market size is expected to reach USD 1.5 billion by 2027, expanding at a CAGR of 4.9%, according to a new report by Grand View Research, Inc. Rising awareness pertaining to the adverse environmental effects of plastic waste is expected to drive the demand for green packaging materials, in turn, benefitting market growth.
Increasing demand for drinks coupled with growing investment by beverage manufacturers for durable and sustainable secondary packaging is expected to drive the market over the forecast period. In addition, the demand for customized machines with high-tech and reliable machine components is likely to have a positive impact on the market.
Changing consumer lifestyles coupled with growing disposable incomes and increasing demand for a wide range of drinks are expected to positively impact the market. In addition, companies manufacturing drinks are focusing on innovation, which is expected to increase the number of drink options available in the market.
Rising demand for craft drinks as well as CBD-infused drinks is expected to have a positive impact on market growth. In addition, increasing consumer-driven demand for super-premium and premium distilled spirits is further anticipated to drive the growth of the drink industry, thereby driving the market over the forecast period.
Growing focus on automation to reduce the operating and labor costs, and maximize the uptime, is expected to drive the market. However, semi-automatic machines are also likely to generate a sizeable demand, most notably from microbreweries owing to less costly nature compared to the automatic versions.
Beverage Carton Packaging Machinery Market Report Highlights
- The horizontal end side-load cartoner type segment is likely to have the highest CAGR of 5.2% over the forecast period owing to its suitability for bulk product handling coupled with its ability to attain high speeds
- The automatic mode of operation segment is anticipated to have the highest CAGR over the forecast period owing to the increasing investments in automation, coupled with a growing focus on reducing operating and labor costs
- The non-alcoholic application segment is anticipated to witness a CAGR of 4.8% from 2020 to 2027 owing to the growing demand for bottled water as well as sports and functional drinks
- In Asia Pacific, the market is estimated to witness a CAGR of 5.8% from 2020 to 2027 on account of rapid expansion of the drink industry coupled with the increasing purchasing power of the consumers in the region
- Large manufacturing companies are increasingly demanding customized packaging solutions, including beverage carton packaging machinery that caters to their specific requirements.