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SELBYVILLE, Del., Feb. 17, 2021 /PRNewswire/ Based on Global Market Insights Inc., report, the Corrugated Equipment Market size was estimated at $226.77 million in 2020 and is slated to surpass
$282.3 million by 2027, registering a
CAGR of 3.3% from 2021 to 2027. The report provides a comprehensive analysis of the top winning strategies, wavering industry trends, drivers & opportunities, top investment avenues, competitive scenarios, market estimations & size.
Global Market Insights Inc.
The COVID-19 crisis has severely affected the industry landscape. Disruptions in raw material supply have hindered production activities in the industry. Product prices fell in 2020 due to a sudden drop in demand and rising inventory. Moreover, logistics and supply chain difficulties have also affected the corrugated equipment market demand.
Corrugated Equipment Market projected to exceed $282 3 million by 2027, Says Global Market Insights Inc prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
Food & Beverages is Expected to Hold the Largest Market Share
The food and beverage industry is one of the significant consumers of flexible packaging products such as films, pouches and many more that are printed using flexographic printing machines. The increasing consumption of such packaging is expected to bolster the market demand for such machines over the forecast period.
In February 2018, Constantia Flexibles announced its plans to construct a flexible packaging plant, by investing INR 1 billion. The plant would be equipped with a state-of-the-art Flexo printing press and laminators that can produce recyclable high-barrier laminates.
The food and beverage industry is governed by stringent regulations pertaining to the usage of inks on the packaging and the labeling. As the flexographic printing involves usage of quick-drying and non-toxic inks, it is desirable in the printing of food & beverage packaging and is expected to boost the adoption of the flexographic printing ma