SAN FRANCISCO, 20 October 2021 / PRNewswire / – Global Packaging Machinery Market Size Expected to reach $ 59.24 billion by 2028, according to a new report from Grand View Research, Inc. The market is expected increase at a CAGR of 4.1% from 2021 to 2028. Rising demand for packaged food and beverage, coupled with the growth of pharmaceutical and personal care industries, is expected to drive the demand for packaging machinery during the forecast period.
The growing popularity of single-serve and smaller-portion bag formats has increased the demand for high-speed and efficient packaging machines. Moreover, with the consumer induced demand for a wide range of products in different packaging sizes and shapes, there is an increasing demand for flexible packaging machines capable of adapting to different packaging products and styles.
Main lessons and findings:
- By machine type, form-fill-seal segment is expected to grow at the fastest CAGR of 5.2% during the forecast period owing to the increasing popularity of flexible packaging coupled with the growing demand for packaging. in individual portions and in small portions.
- The food end-use segment accounted for the largest share of over 35.0% in 2020 due to the growing demand for packaged food products attributed to changing lifestyles, increasing disposable income and the growth of the middle class population.
- The North American market is expected to grow at a CAGR of 3.2% from 2021 to 2028 owing to the growing demand for highly automated and integrated machinery, coupled with favorable packaging and labeling regulations in the region.
- The market in China is expected to increase at a CAGR of 5.3% over the forecast period due to the growing emphasis on improving productivity coupled with favorable government policies focused on technology and machine upgrades
- In june 2020, Hugo Beck Maschinen bau GmbH & Co. KG. launched two machines, namely PB 800 E-Com and flexo 700 E-Com, which are explicitly designed to meet the demand for packaging for e-commerce.
Read the 167-page market research report, “Packaging Machinery Market Size, Share and Trend Analysis Report by Machine Type (Filling, Labeling, Form-Fill-Seal), by End Use (Food, Beverage, Pharmaceuticals), by region and segment forecast, 2021-2028“, by Grand View Research
Consumers and retailers are increasingly demanding sustainable packaging styles, forcing machine manufacturers to work closely with material suppliers to test new materials and make necessary machine modifications. In addition, with the rapid evolution of retail packaging formats, the demand for faster and more flexible machines has increased.
The market is expected to grow in the coming years due to the increasing demand for personal and medical care products, such as hand sanitizers, soaps, face masks and gloves, despite the disruption in the supply chain. supply caused by COVID-19. pandemic. Additionally, closures and movement restrictions have further increased demand for packaged food.
Grand View Research has segmented the global packaging machinery market on the basis of machine type, end use, and region:
- Packaging Machinery Types Outlook (Revenue, USD Billion, 2017 – 2028)
- Bottling line
- Packaging Machinery End Use Outlook (Revenue, USD Billion, 2017 – 2028)
- Chemical products
- Personal care
- Regional Packaging Machinery Outlook (Revenue, USD Billion, 2017 – 2028)
- North America
- Asia Pacific
- South Korea
- Central & South America
- Middle East & Africa
List of key players in the packaging machinery market
- KHS Group
- SIG Combibloc SA Group
- Tetra Laval International SA
- Krones SA
- IMA Industria Macchine Automatiche SpA
- Syntegon Technology GmbH
- GEA Aktiengesellschaft Group
- Bradman Lake Ltd.
- ROVEMA GmbH
- Douglas Machine Inc.
- Coesia SpA
- Maillis Group
Check out other studies related to machinery and packaging materials, conducted by Grand View Research:
- Stretch and Shrink Film Market – The global stretch and shrink film market size has been estimated to be $ 14.27 billion in 2019 and is expected to register a CAGR of 5.5%. The booming food processing industry is expected to drive growth.
- Cosmetics and Personal Care Packaging Equipment Market – The global cosmetics and personal care packaging equipment market size has been estimated to be $ 3.86 billion in 2018 and is expected to register a CAGR of 5.4% during the forecast period.
- Beverage Carton Packaging Machinery Market – The global beverage carton packaging machinery market size was estimated to be $ 988.7 million in 2019 and is expected to grow at a CAGR of 4.9% from 2020 to 2027. The overall growth of the beverage industry across the world is further expected to drive demand
Browse Grand View Research’s coverage on Global Food Safety and Processing Industry.
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About Grand View Research
Grand View Research, a United States-based market research and consulting company, provides syndicated and personalized research reports and consulting services. Checked in California and headquartered at San Francisco, the company has more than 425 analysts and consultants, adding more than 1,200 market research reports to its extensive database each year. These reports provide in-depth analysis of 46 industries in 25 major countries around the world. Using an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and assess upcoming opportunities.
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