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The packaging machinery market is set for growth, from $43.76 billion in 2023 to $46.59 billion in 2024, reflecting a CAGR of 6.5%. Drivers include the growing global population, rising consumer demand, the food and beverage industry's expansion, the e-commerce boom, and the shift towards automation and sustainable packaging.
How Big Is the Global Packaging Machinery Market Expected to Grow, and What Is Its Annual Growth Rate?
The market is anticipated to grow significantly, reaching $59.19 billion by 2028 at a CAGR of 6.2%. Growth drivers include smart, IoT-enabled machinery, R&D in sustainable packaging technologies, and the expansion of personal care and cosmetics packaging. Trends in this space include robotic automation, advanced labeling, sustainable packaging, and solutions for e-commerce and parcel services.
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What Is Driving the Growth of the Packaging Machinery Market?
The growing demand for packaged food and beverages is driving the market. The increasing preference for processed and convenience foods, particularly in emerging countries and post-COVID-19, is contributing to this trend. Bizom data shows a 95% year-on-year growth in packaged food sales in 2021, highlighting the rise in demand for packaging machinery.
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Which Leading Companies Are Driving The Growth Of The Packaging Machinery Market Share?
Major companies operating in the market include Aetna Group S.p.A., B&H Manufacturing Company Inc., Barry-Wehmiller Companies Inc., CKD Corporation, Coesia S.p.A., Bosch Packaging Technology (part of Robert Bosch GmbH), Krones Group, Marchesini Group S.p.A., Berhalter AG, Adelphi Group of Companies, Fuji Machinery Co. Ltd., Great Pack Co. Ltd., Ishida Co. Ltd., Sanko Machinery Co. Ltd., Pro Mach Inc., Multivac Group, Tetra Laval International S.A., Robert Bosch GmbH, IMA Group S.p.A., Duravant LLC, Oystar Holding GmbH, Accraply Inc., KHS GmbH, Langley Holdings plc, PMI Cartoning Inc., Bradman Lake Group Ltd., ADCO Manufacturing, Schneider Packaging Equipment Co. Inc., Omori Machinery Co. Ltd., Rovema GmbH, Smurfit Kappa Group, Hangzhou Youngsun Intelligent Equipment Co. Ltd.
What Are The Key Trends Driving The Growth Of The Packaging Machinery Market Size?
Companies in the market are introducing automated packaging solutions to drive revenue and serve larger customer bases. These systems automate packaging tasks such as sorting, filling, sealing, and labeling. In September 2022, Ranpak Holdings Corp., a US-based packaging machinery company, launched Cut'it! EVO. This automated packaging solution boosts output, lowers operational costs, and promotes sustainability. It automatically adjusts box size and affixes lids, reducing labor and shipping volume by 25%, making it ideal for end-of-line packaging.
How Is the Global Packaging Machinery Market Segmented?
The packaging machinery market covered in this report is segmented –
1) By Machine Type: Filling, Labeling, Form-Fill-Seal, Cartoning, Wrapping, Palletizing, Bottling Line
2) By Technology: General Packaging, Modified Atmosphere Packaging, Vacuum Packaging
3) By Business: OEM, Aftermarket
4) By End-Use: Beverages, Food, Chemicals, Personal Care, Pharmaceuticals
Asia-Pacific: The Leading Region in the Packaging Machinery Market
Asia-Pacific was the largest region in the market in 2023. The regions covered in the market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What Is the Packaging Machinery Market?
Packaging machinery refers to the machines used for packaging items or components to provide physical or barrier protection. The machinery includes equipment that forms, seals, fills, cleans, wraps and packages at different levels of industrialization. It also includes related machinery for sorting, counting, and accumulating.
The Packaging Machinery Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Packaging Machinery Market Report: Trends, Opportunities, Strategies, and More
The Packaging Machinery Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into packaging machinery market size, packaging machinery market drivers and trends, packaging machinery market major players, packaging machinery competitors' revenues, packaging machinery market positioning, and packaging machinery market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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