Overall Equipment Effectiveness (OEE) Technique accelerates Global Stick & Sachet Packing Machine Market Growth
According to the latest market study on “Global Stick & Sachet Packing Machine Market Forecast to 2028 – COVID-19 Impact and Analysis – by coverage type, product type, and end user, the market was valued at US$ 6,819.38 million in 2020 and is expected to reach US$ 10,978.92 million by 2028. It is estimated to register a CAGR of 5.4% during the forecast period.
Market Driver: Global Stick & Sachet Packing Machine Market
Flexible packaging is becoming more popular than other types of packaging. It comprises market developments and growth drivers, such as e-commerce, digital printing, and sustainability. Customers are willing to pay a premium price for unique product features made possible by flexible packaging. According to the Flexible Packaging Association, more than 60% of North American consumers are willing to pay more for tangible and functional packaging benefits, such as product protection, transportation friendliness, and supply chain efficiency. Such factors are expected to support the global stick and sachet packing machine market during the forecast period. Automation in packaging machines is the upcoming trend in this market.
APAC led the global stick & sachet packing machine market with a 29.5% share in the year 2020.
Based on the coverage type, the global stick & sachet packing machine market is divided into stickpack packing machines and sachet packing machines. Sachet packaging machines are of two types: Vertical form-fill-seal machines (VFFS) and horizontal form-fill-seal machines. Horizontal sachet packaging machines are generally used to pack solid materials, and vertical packaging machines are used for solid, liquid, and granulated products.
Nowadays, sachet packaging machines are mostly automatic, which can be more advanced than the VFFS machine. VFFS machine is used in industries where large volume output is needed and limited to only some types of sachets, while automatic sachet filling machines are flexible and help fill any sachet. Automatic sachet filling machines are also made with a system to pack the sachets into cartons to be easily collected for transportation. Some machines can fill pre-made pouches and perform fitment insertion, sealing, filling, and capping. Such machines are extremely flexible, so they can be used to perform various tasks, leading to the rise in the global stick & sachet packing machine market.
Based on coverage type, the global stick & sachet packing machine market is segmented into stick pack packing machines and sachet packing machines. By end user, the market is segmented into food and beverages, pharmaceutical, chemicals, cosmetics, and others. By product type, the market is bifurcated into powder and granule, liquid products, and others.
Impact of COVID-19 Pandemic on Global Stick & Sachet Packing Machine Market
The COVID-19 pandemic has a mixed influence on the packaging sector, such as end-markets of food and healthcare, witnessing a boost in demand. While the industry is projected to see steady demand even in these uncertain times, manufacturers are playing it safe by taking pre-emptive measures to reduce costs and protect their profits.
Furthermore, as COVID-19 began disrupting supply networks, the critical role of packaging companies in the supply chain became clear. However, as the world went online and became more remote, the demand for protective packaging increased, necessitating packaging to send commodities and products, positively impacting the global stick & sachet packing machine market.
COVID-19 forced several supply chain elements to shut down overnight in North America through business closures, lockdowns, or quarantine. The recycling business was severely hampered by providing plastic and cardboard packaging resources. To stay safe during the COVID-19 pandemic, packaging businesses had to implement social distancing methods and invest in PPE for their employees and allow them to self-isolate if needed, making the global stick & sachet packing machine market possible affected adversely.
Syntegon, Omag, Aranow, Korber, and Mespack are the five key market players operating in the global stick & sachet packing machine market. In addition to these players, multiple other regional & local market players, emerging companies, market disruptors, and niche market players were studied and analyzed during the course of this study to gather a holistic view of the market.
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