Market Size of Global Packaging Machinery Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.82 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Packaging Machinery Market Analysis
The Global packaging machinery market is expected to grow at a CAGR of 4.82% during the forecast period, 2022-2027. The ongoing technological advancement and government-led rules and regulations for safety standards are driving the packaging machinery market. Further, the increasing demand for packaged food and beverages is also expected to drive the market studied.
- Packaging machinery is the machines that are used for performing packaging operations. These machines are used throughout all packaging operations involving primary packages to distribution packs. The packaging process includes fabrication, cleaning, filling, sealing, labeling, wrapping, etc.
- The packaging machinery market is customer-oriented and is driven by increased demand for various products in different shapes and sizes. Multiple manufacturers in the end-user industries adopt packaging machines that offer flexibility and quickly adapt to changing packaging formats.
- Sustainability and rising environmental concerns have increased the demand for thin and lightweight packaging to reduce the amount of material used for packaging. Thus to adapt to these requirements, manufacturers focus on developing machines with improved functionality to maximize production speeds while accomodating more fragile and thinner packaging materials.
- The growing aseptic packaging industry also drives the market due to the potential of packaging to cater to the need for high and uniform product quality, the need for higher nutrient retention, and to avoid the bisphenol A (BPA) controversy.
- The COVID-19 pandemic boosted market growth, particularly for the food and beverage and pharmaceutical packaging machinery suppliers. This is due to a surge in online and offline demand for various food goods and pharmaceuticals. People buy in bulk to avoid numerous visits and store up on supplies in case of an extended quarantine. Therefore, packaging companies work around the clock to meet the increased demand.
