According to a recent publication by Future Market Insights, Inc., the garment packaging machine market is expected to grow due to several reasons. The demand for attractive and protective packaging solutions is a major driver. E-commerce growth, especially in developing countries, is another factor. Finally, there’s a push for sustainable practices, with companies looking for eco-friendly materials and technologies. India is expected to have the highest growth rate in this market.
NEWARK, Del., May 27, 2024 /PRNewswire/ — The global garment packaging machine market, valued at USD 2.5 billion in 2024, is projected to grow at a CAGR of 3.1% through 2034, potentially reaching over USD 3.4 billion by the end of the forecast period. The industry is significantly driven by the demand for advanced packaging solutions to ensure product protection, branding, and shelf appeal. E-commerce growth, particularly in developing economies, has also contributed to the industry’s expansion.
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Automation and technological advancements have led to faster production, higher efficiency, and greater customization of packaging materials. Garment manufacturers are focusing on eye-catching and well-designed packaging solutions to enhance brand visibility and create memorable unboxing experiences for consumers, catering to the increasing consumer preference for aesthetically pleasing packaging.
In recent years, the garment packaging industry has witnessed a shift towards sustainable practices, prompting companies to invest in eco-friendly materials and technologies. This trend has led to innovations in garment packing machines, with manufacturers incorporating sensors and IoT technology for real-time tracking and supply chain transparency. However, high initial costs and complexity have hindered widespread adoption, particularly among small manufacturing companies.
“Companies in the garment packing machine industry should focus on developing sustainable packaging solutions to reduce environmental impact. They can invest in research and development to create recyclable or biodegradable packaging materials, as well as exploring ways to minimize waste in the production and distribution process”, says Ismail Sutaria (Lead Consultant, Packaging and Materials at Future Market Insights, Inc.).
Key Takeaways from the Market Study
- The standalone system segment dominates the global garment packing machine market with a share of 77.2% in 2024.
- Based on the end use, the technical textile and décor segment leads the garment packing machine market with a share of 31.6% in 2024.
- The garment packing machine market in India is anticipated to grow at a CAGR of 6.5% through 2034.
- The garment packing machine market in China is estimated to rise at a 4.7% CAGR through 2034.
- The garment packing machine market in Thailand has the potential to increase at 4.2% CAGR through 2034.
- The United States garment packing machine market is predicted to rise by 1.7% CAGR through 2034.
- The garment packing machine market in the United Kingdom is very likely to grow at a CAGR of 1.5% through 2034.
Competitive Landscape
- The garment packing machine industry is witnessing several new entrants willing to invest in new technologies for garment packing.
- Companies are investing in automation, IoT, and smart packaging to improve efficiency and functionality.
- Sustainability trends are driving companies to adopt eco-friendly practices.
- Key players in the industry include U-Packaging Machinery, Hangzhou Youngsun Intelligent Equipment, Qingdao Feifan Packing Machinery, and Shandong Sinolion Machinery Corp. Ltd.
Recent Developments:
- In March 2024, Harry Rosen Inc. introduced a pioneering initiative in partnership with TerraCycle to implement North America’s first fully recyclable packaging program. This move underscores their dedication to sustainability by ensuring that garment bags are reused and diverted from landfills.
- In April 2023, the Cambodian Development Council revealed a substantial $10 million investment in Fitly Apparel and WH Packaging, both prominent garment factories. This investment is set to generate over 2,900 employment opportunities in the regions of Phnom Penh and Kandal.
Purchase now and gain full access to the Garment Packing Machine Industry report, featuring comprehensive Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives.
About the Author:
Ismail Sutaria (Lead Consultant, Packaging and Materials at Future Market Insights, Inc.) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
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SOURCE Future Market Insights
