SAN FRANCISCO, Oct. 20, 2021 /PRNewswire/ -- The global packaging machinery market size is expected to reach USD 59.24 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.1% from 2021 to 2028. The rising demand for packaged food and beverages, coupled with the growing pharmaceutical and personal care industries, is expected to drive the demand for packaging machinery over the forecast period.
The growing popularity of single-serve bag sizes and smaller portions has increased the demand for high-speed and efficient packaging machines. Moreover, with the consumer-driven demand for a wide range of products in different packaging sizes and shapes, there is an increasing demand for flexible packaging machines that can adapt to different products and pack styles.
Key Insights & Findings:
By machine type, the form-fill-seal segment is anticipated to expand at the fastest CAGR of 5.2% over the forecast period on account of the increasing popularity of flexible packaging, coupled with the rising demand for single-serve and small portion packs
The food end-use segment accounted for the largest share of over 35.0% in 2020 owing to the increasing demand for packaged food products attributed to the changing lifestyles, increasing disposable income, and the growing middle-class population
The North American market is likely to expand at a CAGR of 3.2% from 2021 to 2028 due to the increasing demand for highly automated and integrated machines, coupled with the favorable packaging and labeling regulations in the region
The market in China is anticipated to expand at a CAGR of 5.3% over the forecast period owing to the growing focus on improving productivity, coupled with the favorable government policies focusing on technology and machinery 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 cater to the demand for e-commerce packaging.
Read 167 page market research report, "Packaging Machinery Market Size, Share & Trends Analysis Report By Machine Type (Filling, Labeling, Form-Fill-Seal), By End-use (Food, Beverage, Pharmaceuticals), By Region, And Segment Forecasts, 2021 - 2028", by Grand View Research
Consumers and retailers are increasingly demanding sustainable packaging styles resulting in the machine manufacturers requiring to work closely with material suppliers to test new materials and make necessary modifications to the machine. Moreover, with the rapid developments in retail packaging formats, the demand for faster and more flexible machines has increased.
The market is expected to witness growth in the years to come on account of the rising demand for personal care and medical products, such as hand sanitizers, soaps, face masks, and gloves, despite the supply chain disruptions caused due to the COVID-19 pandemic. In addition, lockdowns and movement restrictions have further increased the 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 Machine Type Outlook (Revenue, USD Billion, 2017 - 2028)
Packaging Machinery End-use Outlook (Revenue, USD Billion, 2017 - 2028)
Packaging Machinery Regional Outlook (Revenue, USD Billion, 2017 - 2028)
List of Key Players of Packaging Machinery Market
SIG Combibloc Group Ltd.
Tetra Laval International S.A.
I.M.A. Industria Macchine Automatiche S.p.A.
Syntegon Technology GmbH
GEA Group Aktiengesellschaft
Bradman Lake Ltd.
Douglas Machine Inc.
Check out more studies related to packaging machinery & material, conducted by Grand View Research:
Stretch And Shrink Film Market – The global stretch and shrink film market size was estimated at USD 14.27 billion in 2019 and is projected to register a 5.5% CAGR. Burgeoning food processing industry is expected to drive the growth.
Cosmetics And Personal Care Packaging Equipment Market – The global cosmetics and personal care packaging equipment market size was estimated at USD 3.86 billion in 2018 and is expected to register a CAGR of 5.4% over the forecast period.
Beverage Carton Packaging Machinery Market – The global beverage carton packaging machinery market size was valued at USD 988.7 million in 2019 and is anticipated to grow at a CAGR of 4.9% from 2020 to 2027. The overall growing beverage industry across the globe is further anticipated to drive the demand
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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