Rising consumption of packaged food products to boost adoption of multihead weighers in the Food & Beverages industry
The F&B sector is the largest end user of multihead weighing machines, with the snacks category contributing to the highest growth potential in the global market. A growing need for accurate weighing equipment in the food, pharmaceuticals, and chemicals industry is one of the key revenue boosters for the global multihead weighing machines market. According to a recent analysis by Future Market Insights, the global market for multihead weighing machines is slated to witness a growth rate of 3.6% in terms of revenue. Market value is estimated to stand at US$ 209.3 Mn by the end of 2018 and further increase to US$ 297.9 Mn towards the close of 2028.
Automation is redefining the food and beverages industry across key regional markets resulting in a high demand for automatic machines and systems. Global food processing companies have started automating their production lines to expand their outputs and production efficiencies. Multihead weighing machines have become the standard weighing solution across the F&B industry, as these machines offer accurate weighing and reduce the overall giveaway generated during manual and semi-automatic weighing processes.
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Cross-industry Automation to Create Lucrative Growth Opportunities for Manufacturers of Multihead Weighing Machines
Rapid automation across multiple industry sectors such as F&B, chemicals, and pharmaceuticals has opened newer growth vistas for manufacturers of multihead weighers, especially in key regional markets. Companies are already setting foot in hitherto untapped local markets by offering durable and cheaper multihead weighing machines for several end-use applications. Manufacturers are also eyeing the lucrative F&B industry in growing economies of the Asia Pacific such as India and China to increase their global market share.
High Efficiency of Multihead Weighing Machines Contributing to Increased Adoption Among End-use Industries
Multihead weighing machines offer enhanced accuracy in weighing products such as snack foods, confectionery, and cereals and grains that are packed in different packaging types and sizes. These machines are also used to weigh high production outputs. Multihead weighers are typically automatic in nature and are capable of measuring up to 250 weights per minute. The latest technological advancements have resulted in more efficient multihead weighing machines, leading to optimal pricing and increased output. This has led to a surge in demand for these machines, particularly in the food and beverages industry.
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Further, multihead weighing machines offer real-time production efficiency and enhanced output, and companies are shifting towards the installation of multihead weighers in their manufacturing facilities. These machines integrate well with existing packaging machines and are the most ideal solution for F&B processing companies. Owing to the higher production output, multihead weighing machines are also increasingly being adopted in the FMCG industry for automatic weighing solutions.
High Costs of Installation and Machinery Maintenance Coupled with Market Consolidation to Dampen Sales Revenue of Small-scale Producers
Sophisticated multihead weighing machines with more than 10 to 20 heads are manufactured by a limited number of big manufacturers in the global market. Customized multihead weighing solutions to suit specific end-use applications tend to push up the costs significantly, posing challenges to small-scale manufacturers. Also, some of the machine parts are not available in certain countries, owing to which machine owners have no choice but to import parts from other countries. This pushes up the cost factor significantly, challenging adoption by some of the small and medium sized end-use companies.
The global market for multihead weighing machines is highly consolidated, with just a handful of top players such as Ishida, Yamato Scale, Ilpak, and MBP S.r.l. holding a major share (close to 50%) of the global market. Ishida is the leading player in this market, as the company pioneered the multihead weighing machinery concept way back in 1970. In Japan, Ishida holds a very high market share of around 60%. This consolidation has weakened the bargaining power of buyers, as they are forced to buy from the top market companies, who sell their products at a significantly higher price. Market consolidation has further made it difficult for small-scale players to compete in the global market, as the market giants come with extended R&D capabilities resulting in more innovative products offering enhanced levels of output and operational efficiency. Future Market Insights predicts that the aforementioned factors may dampen global revenue growth of the multihead weighing machines market in the coming years.