The Global Packaging Machinery market is to grow at a CAGR of 4.89 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing importance of packaging in the marketing mix. The Global Packaging Machinery market has also been witnessing the increase in mergers and acquisitions. However, the need to comply with stringent regulations could pose a challenge to the growth of this market.
The Global Packaging Machinery market is expected to grow at a steady rate during the forecast period. The market is highly fragmented with the presence of many international and regional vendors. Major players such as Graphic Packaging Holding Co., Coesia S.p.A., and Barry-Wehmiller Companies Inc. are trying to increase their market share. In order to access the untapped market, a number of mergers and acquisitions and strategic alliances are expected to take place in the market during the forecast period. Many large vendors and emerging contenders in the Global Packaging Machinery market are looking for mergers and acquisitions to enhance their market presence. Thus, the market players are creating alliances with regional, small, and large companies as a way to increase their market share. This also enhances their distribution channels and improves their market reach. Thus, mergers and acquisitions help companies remain competitive in the market, thereby consolidating the players in the market.
The increasing importance of packaging in the marketing mix is one of the major drivers in the Global Packaging Machinery market. Customers prefer to buy products with quality packaging. High-quality packaging of products leads to successful promotional campaigns because it attracts more customers than low-quality packaging of products. It has been observed that packaging plays an important role in the customer's buying decision. Additionally, the packaging of products creates a brand identity for all types of product. Thus, products with quality packaging, especially food and beverages and pharmaceutical products, have high chances of being sold in the market.
The key vendors dominating this market space are Barry-Wehmiller Companies Inc., Coesia S.p.A., and Graphic Packaging Holding Co. The other vendors mentioned in the report are Dover Corp., Klockner-Werke AG, Korber AG, Fuji Machinery Co. Ltd., Krones AG, and Sato Corp.
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