The challenges associated with the packaging are productivity, efficiency and quality control. Several key trends are influencing the packaging industry. In recent years, packaging machinery manufacturers are embracing automation in their packaging lines and leveraging smart manufacturing to achieve higher productivity and efficiency. Automating the processes such as filling, packing and palletizing is a big trend in the packaging industry.
The companies in the oil packing machine market are leveraging smart manufacturing to maintain a competitive advantage and meet their demanding business needs. The automation in packaging enables the elimination of human errors and ensures the safe handling of the products. Thus, the trend of automation in the oil packaging machine market would help increase the overall productivity and efficiency along with reducing the labour cost.
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Key Takeaways from Oil Packing Machine Market
· Automatic oil packing machines are expected to remain dominant during the forecast period due to their improved production speed, reduced labour costs and improved quality control. This segment is projected to create the highest revenue opportunities of US$ 89.6 Mn by 2032.
· VFFS oil packing machines are the most preferred among the oil packaging manufacturers due to their enhanced efficiency, convenience and broad deployability. This orientation segment is expected to account for around half portion the market share by value during the forecast period.
· Food as an end use is likely to create consistent demand for oil packing machines in the forecast period. The oil packing machine used in the food industry is anticipated to witness an expansion of 1.4x its current market value due to increasing consumer preference for safe and hygienic packaging rather than manual or traditional packaging.
· South Asia is expected to be the lucrative region owing to a rise in the manufacture and sales of oil packing machines. The growth in this region is attributed to the growing population, flourishing food industry and ready buyers who are in need to buy these machines.
“Shifting buying patterns of consumers from traditional loose oils to packed oils due to food safety and hygiene is expected to augment the growth of the oil packing machine market in the coming years. Moreover, the oil packing machine manufacturers are focusing on advanced technologies such as automation to enhance the overall productivity and efficiency.”–comments FMI Analyst
Food is expected to remain the Dominant End Use Segment for Oil Packing Machine Market
The usage of oil packing machines in the food industry contributes almost 43% of the total product market and is projected to reach US$ 139.8 Mn by the end of 2032. Oil packing machines are widely used in the food industry for packaging edible oils and other cooking oils. The oil packing machine market is witnessing a great demand from the food industry due to the growing population coupled with expanding food service sector, thereby creating demand for edible oils from the end users. Overall, the flourishing food industry will likely boost the demand for oil packing machines in the forecast period.
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Impact of COVID-19 on Oil Packing Machine
The COVID-19 outbreak had devastating impacts on the global economy. These impacts are also being felt by the oil packing machine market. The COVID-19 spread severely impacted manufacturing and industrial activities, which resulted in reduced product sales during the pandemic. The closure of food production units, restrictions in the movement of workers, and restricted food trade policies have resulted in food supply chain disruptions, thereby creating a downfall in the oil packing machine market. Moreover, the closure of hotels, restaurants and cafes amid the pandemic had resulted in reduced demand for edible oil.
This reduced consumption of edible oil had shown a decline in demand for oil packing machines by the manufacturers. The slowdown in the automobile industry resulted in reduced demand for motor oil, which, in turn, affected the demand for oil packing machines from the oil and lubricant industries. Overall, the reduced consumption of oil, has resulted in a decline in demand for oil packing machines from the end-use industries during the pandemic.
Oil Packing Machine Market Landscape
The key players operating in the global oil packing machine market are
- Niverplast B.V.,
- Turpack Makine Sanayi ve Ticaret Ltd. Sti.,
- GEA Group,
- SN Maschinenbau GmbH, and
- Gemseal Abhilash Industries.
Also, some of the other noticeable players in the market are
- Siklmx Co. Ltd.,
- Nichrome Packaging Solutions,
- Foshan Land Packaging Machinery Co. Ltd.,
- Turpack Packaging Machinery,
- LPE (Levapack),
- APACKS, and others.
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Oil Packing Machine Market by Category
By Automation, the Oil Packing Machine Market is Segmented as:
- Automatic
- Semi-automatic
By Orientation, the Oil Packing Machine Market is Segmented as:
- VFFS Machine
- HFFS Machine
By End Use, the Oil Packing Machine Market is Segmented as:
- Food
- Cosmetic & Personal Care
- Pharmaceutical
- Oil & Lubricant
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The post Oil Packing Machine Market is set to enjoy a market valuation of US$ 225.6 Mn in 2022, and is anticipated to create huge revenue opportunities | Insights by FMI appeared first on Future Market Insights.
