Portland, OR, Oct. 19, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global filling equipment market generated $17.82 billion in 2019, and is estimated to reach $23.49 billion by 2027, registering a CAGR of 3.9% from 2020 to 2027. The report offers an extensive analysis of changing market dynamics, key winning strategies, top investment pocket, major segments, and competitive landscape.
Increase in demand for FMCG and pharmaceutical products and rise in demand of automated equipment drive the growth of the global filling equipment market. However, high cost of equipment restrains the market growth. On the other hand, increase in penetration of internet and smartphones along with untapped potential in developing nations create new opportunities in the coming years.
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Covid-19 scenario:
- During the coronavirus pandemic, the research and development (R&D) and manufacturing activities for filling equipment have been paused. Moreover, investors have locked the funding for the filling equipment during the lockdown period.
- New installations of this equipment have been postponed during the Covid-19 outbreak to avoid the transmission.
The report offers a detailed segmentation of the global filling equipment market based on sales type, process type, product type, end user industry, and region.
Based on product type, the liquid segment contributed to the largest share in 2019, accounting for nearly two-fifths of the total share, and is estimated to maintain its dominant position during the forecast period. However, the semi-solid segment is expected to register the highest CAGR of 4.6% from 2020 to 2027.
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Based on end user industry, the beverage segment accounted for the largest share in 2019, holding nearly one-third of the total share, and is expected to maintain the largest share throughout the forecast period. However, the pharmaceutical segment is estimated to portray the highest CAGR of 5.4% during the forecast period.
Based on region, Asia-Pacific contributed the highest share, accounting for more than one-third of the total market share in 2019, and will maintain its dominance throughout the forecast period. However, LAMEA is expected to grow at the highest CAGR of 5.1% from 2020 to 2027.
Leading market players analyzed in the research include Accutek Packaging Equipment Companies, Inc., Coesia S.p.A., Krones AG, Ronchi Mario S.p.A., Syntegon Technology GmbH, Tetra Laval International S.A., GEA Group Aktiengesellschaft, JBT, Salzgitter AG (KHS Group), and Scholle IPN.
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About Allied Market Research:
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 domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.