The packaging machinery market is expected to grow with a healthy CAGR of USD 49,055.20 million by 5.90% during forecast 2021-2030. The research report includes a brief overview of the impact of COVID-19 on the current and future market conditions. The report describes some of the major market factors that will influence the growth of the industry such as market share, key region and major players.
Packaging machines are used for many functions such as cleaning, filling and forming containers, canning, sealing and capping, bagging, packaging, bottling, unwrapping, packaging, shrink wrap and heat sealing, inspection and checkweighing, palletizing and depalletizing, case forming, labeling, coding and many other applications.
Market dynamics
The Global packaging machinery market is highly competitive and is expected to grow substantially over the forecast period. The global packaging machinery market is driven by growing demand from various industries, such as food, beverage, pharmaceutical, personal care, and others. There has been a heavy reliance on ready-to-eat products. This is supported by an increase in population, automation, and investment by packaging companies, which has contributed to the growth of the packaging machinery industry. Increased demand for packaging robots from various end-user industries is also expected to drive the market growth over the forecast period.
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Other factors responsible for the development of the packaging machinery market are increasing use of automation in the packaging industry, increase in consumption of consumer goods, development of machinery technology energy-efficient packaging solutions, the increasing use of vacuum packaging machines and the introduction of strict government regulations to encourage environmentally friendly packaging.
Key players
Industry giants in the global packaging machinery market are Barry-Wehmiller (USA), Illinois Tool Works Inc. (USA), Krones AG (Germany), Bosch Packaging Technology (USA) , GEA Group AG (Germany), Automated Packaging Systems (USA), Dover Corporation (USA), Graphic Packaging Holding (USA), Mamata Enterprises (India), MULTIVAC Group (USA), Nordson Corporation (USA), Pro Mach, Inc. (USA), Sato Holdings Corporation (Japan), Tetra Level International (Switzerland), Reynolds Group Holdings (New Zealand) among others.
Market segmentation
The global packaging machinery market has been segmented into type and end user.
Based on type, global packaging machinery has been segmented into form, filling, sealing, labeling & coding, closing & sealing, wrapping & binding, etc.
On the basis of end users, global packaging machinery has been segmented into food and beverage, pharmaceutical, personal care, and others. Among all end-users, the food and beverage segment is expected to grow at the highest level of CAGR. Packaging is essential to protect food products and plays an important role in the marketing mix of products. Hence, the food and beverage industry is expected to contribute the most to the packaging machinery market growth.
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Regional analysis
Regionally, the global packaging machinery market has been segmented into Asia-Pacific, North America, Europe, and Rest of the World.
The Asia-Pacific region is expected to drive the global packaging machinery market. The growth of the market can be attributed to the existence of a large number of food and beverage manufacturers and personal care manufacturers in the region. The North American region is also expected to grow significantly in the global packaging machinery market due to the presence of a large number of players in the market including Bosch Packaging Technology, Dover Corporation, and Nordson Corporation.
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