Market Trends of Liquid Filling Machines Industry
This section covers the major market trends shaping the Liquid Filling Machines Market according to our research experts:
Healthcare Industry Will Experience a Significant Growth in Forecast Period
- The pharmaceutical industry is growing at a rapid rate with frequent new research and developments. Most of the pharmaceutical drug manufacturers are investing in developing drugs to broaden the variety of products in their portfolios, which is expected to fuel the market in the future.
- For instance, in March 2019, Canad-based Cambrex Corporation announced that it would double the liquid packaging capacity and weekly output at its Mirabel, Québec site in Canada, with the addition of a cGMP packaging line and a new filler on the existing packaging line. The company is a small molecule company providing drug substance, drug product, and analytical services across the entire drug lifecycle.
- The ongoing research and development in medical science have generated the needs of advanced machinery for bulk drug production, processing, and packaging. Most of the major vendors in the market are advancing their offerings to seize the opportunity. For instance, in December 2019, AeroFlexx, partnered with Fameccanica, to diversify its industrial automated machinery. Fameccanica’s expertise is in converting and liquid filling equipment, which is key to the AeroFlexx manufacturing process.
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Asia-Pacific to Witness Fastest Growth
- Rapidly growing population, rising income of the people is estimated to increase the demand for packaged products in the food and beverage industry, which will contribute to the growth of the liquid filling machines.
- Moreover, the Government of India has been instrumental in the growth and development of the food processing industry, which accounts for 32% of the country’s total food market. The Ministry of Food Processing Industries (MoFPI) is making all efforts to encourage investments in the business also it has approved proposals for joint ventures (JV), foreign collaborations, industrial licenses, and 100% export-oriented units.
- The region is also experiencing high demand for skin care and particularly luxury products, as stated by L'Oréal. It is favored by the rising disposable income of consumers, the trend of online shopping, coupled with an increasing consumer base of people interested in personal hygiene and physical appearance. This is supported by highly populated countries, like India and China, and so most of the cosmetic brands are setting up their manufacturing units in the region and launching their products.
- For instance, in 2019, Pixi, a London-based beauty brand, had entered the Indian cosmetic market. It is currently offering glow tonic range apart from its other product ranges that include skin treats, makeup, the body treats, kits, tools, and a special selection, which comprises of a vast makeup collection.
- Furthermore, the growing threat of the COVID-19 pandemic has prompted pharmaceutical companies to initiate R&D processes to develop a vaccine that can prevent further spread of the novel coronavirus, which in turn has driven the growth of the market. For instance, seven Indian pharma companies, Bharat Biotech, Serum Institute, Zydus Cadila, Panacea Biotec, Indian Immunologicals, Mynvax, and Biological E, are working to co-develop a vaccine against coronavirus.
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