CLEVELAND, April 20, 2022 /PRNewswire/ -- The Freedonia Group projects global demand for packaging machinery to expand 5.8% per year to $71.1 billion in 2026, driven by rising manufacturing output. The global food, beverage, and pharmaceutical and personal care product industries – which are the most intensive users of packaging materials and equipment – are expected to account for 71% of all new product demand during this time.
The food market alone is expected to account for nearly one-third of global packaging machinery gains as industry output grows and manufacturers invest in new production and packaging capacity:
Evolving consumer preferences and intensifying competition in the global food industry will also push operators to replace older machines with more capable models (e.g., those capable of shorter packaging runs or greater customization).
Growth will be aided by the strengthening of regulatory frameworks in developing nations (e.g., food safety standards, improved labeling) and the adoption of more demanding product, safety, and environmental standards in more established markets.
Pharmaceuticals & Personal Care Products Market to Grow at the Fastest Rate
The pharmaceutical and personal care product segment is forecast to expand at the fastest rate of any market through 2026. Spending on pharmaceuticals and personal care products around the world will continue to rise because of population growth, improving living standards, increasing lifespans, and product development. Pharmaceutical companies will be among the first adopters of advanced packaging technologies because they have significant financial resources and are required to comply with countless regulations.
Want to Learn More?
Global Packaging Machinery is now available from The Freedonia Group. This study provides historical data for 2011, 2016, and 2021, and forecasts for 2026 and 2031 for global packaging machinery shipments, demand by product type, and net exports on a country-by-country basis, valued in millions of current US dollars, including inflation.
case forming, packing, and sealing machinery
labeling and coding machinery
other types of packaging machinery
packaging machinery parts
Demand is also analyzed by the following markets:
pharmaceuticals and personal care products
About the Freedonia Group - The Freedonia Group, a division of MarketResearch.com, is the premier international industrial research company, providing our clients with product analyses, market forecasts, industry trends, and market share information. From one-person consulting firms to global conglomerates, our analysts provide companies with unbiased, reliable industry market research and analysis to help them make important business decisions. With over 100 studies published annually, we support over 90% of the industrial Fortune 500 companies. Find off-the-shelf studies at https://www.freedoniagroup.com/ or contact us for custom research: +1 440.842.2400.
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SOURCE The Freedonia Group