Growth in demand for fast-moving consumer goods (FMCG) and pharmaceutical products have led the manufacturing companies to increase demand for filling equipment
PORTLAND, OR, UNITED STATES, August 26, 2021 /EINPresswire.com/ — There is a growing demand for packaged food mainly because of the rising busy lifestyle. Further, the easy availability of packaged food is also boosting the sales of packaged food. Hence, the rise in packaged food market will drive the filling equipment market growth. Moreover, the fast moving consumer goods (FMCG) industry is witnessing rapid growth and forming an integral part of the economy.
The global filling equipment market size accounted for $17.8 billion in 2019 and is expected to reach $23.5 billion by 2027, registering a CAGR of 3.9% from 2020 to 2027.
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Thus, rise in use of FMCG products and pharmaceutical products has led to increase in production capacity, which eventually increases the sales of new filling equipment and also increases the need of spare parts due to corrosion of the equipment. For instance, Unilever is opening a new plant in Dubai that will be producing beauty and personal care products. The company has planned to invest $250-$300 million for a 100,000 square meter plant. Thus, such expansions will help in the filling equipment market growth during the forecast period
Top 10 Leading Players
Accutek Packaging Equipment Companies, Inc.
GEA Group Aktiengesellschaft
Ronchi Mario S.p.A
Salzgitter AG (KHS Group)
Syntegon Technology GmbH
Tetra Laval International S.A.
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Key Market Segmentation
By Sales Type
By Process Type
Rotary feeding system
Straight line feeding system
By Product Type
By End-user Industry
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Source: EIN Presswire