Artificial Intelligence and Machine Learning transforming the metal packaging machinery market

The entire packaging industry is changing radically with the adoption of new technologies to cut the overhead cost and streamline the entire supply chain. AI and ML have swiftly made their way into the metal packaging machinery. The manufacturers of these machines have increasingly incorporated advanced technologies to meet the market demand. The deployment of these technologies provides a threefold benefit to the fillers and manufacturers. Firstly, it provides a greater level of automation resulting in efficient workflow. Secondly, it considerably reduces human interaction with machines reducing labor injuries and thirdly, it provides an increased throughput. The global market for metal packaging machinery is expected to witness a substantial growth at a CAGR of over 5% over the forecast period of 2019-2026. Increasing public awareness about environmental issues has increased the demand for sustainable packaging solutions. Consumers are becoming more aware about the lifecycles and environmental impacts of the products and their purchase. Metal packaging being completely recyclable has come around to become a preferred choice for packaging.

To have a brief overview of the report please click on the following link http://www.briskinsights.com/report/metal-packaging-machinery-market

Asia Pacific to stand at the frontier in the metal packaging machinery

According to International Monetary Fund (IMF), Asia Pacific is the world’s largest economic engine at present and is anticipated to grow at 5.7% till 2020. Such a high growth rate has resulted in increased consumer spending levels along with upliftment of the socioeconomic condition in the region. Asia Pacific region is looked upon as the most lucrative region for the end user companies of the metal packaging machinery market. Government support for industrialization through investment programs such as Australian Venture Capital Limited Partnership Program, “Made in China 2025”, “Make in India “initiative present sizeable opportunities for the growth of the metal packaging machinery market in Asia Pacific region. Moreover, high growth in the packaged food industry is expected to drive growth in the market in this region. For instance, China is the largest packaged food market globally, and as per the Agriculture and Agri-food Canada, the packaged food market in China was estimated to be $202 billion in 2013 which is projected to grow to $347 billion by 2018. Similarly, as per the Associated Chamber of Commerce and Industry of India (ASSOCHAM) survey, the Indian packaged food industry is projected to rise to $50 billion by the end of 2017 from $32 billion in 2015, representing over 56% rise between during 2015-2017.