The packaging machinery market has witnessed significant growth over the past decade, owing to the rise in investment in various end-user industries such as pharmaceuticals, healthcare, chemicals, and others. A number of players are expanding their business around the globe, owing to increased customer base, enhanced effective operations, developed product portfolios, and expanded geographical reach. This is anticipated to fuel the demand for the packaging machinery
global packaging machinery market size was valued at $43,520.0 million in 2020, and is projected to reach $69,218.0 million by 2030, registering a CAGR of 4.7% from 2021 to 2030
The development of packaging technology has witnessed significant growth over the last decade. Packaging has become one of the essential processes before offering the final product to consumers. The primary applications of packaging machinery are in a wide range of industries across food & drink, healthcare, cosmetics, and other consumer goods as well as a range of industrial sectors where packaging has become essential, with its usage increasing broadly in line with the global economy.
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Filling machines used in end-user industries vary upon the specific needs of the industry as there is no single type of filling machine available to fill different types of liquid, solid, or powder. Cleaning & sterilizing machine is expected to be the fastest growing machine type segment, growing at a CAGR of 7.3% by 2027. Cleaning machines are used to clean contaminants from bottles prior to the introduction of the product. These machines have wide applications in the food, beverages, and pharmaceutical industries.
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By end-user industries, the food & beverage segment dominated the packaging machinery market in 2020 owing to the growth in food & beverage industry during the forecast period. This growth is attributed to the increase in demand from emerging countries due to the rise in consumer income and improvement in living standards. The fastest growing end user for the packaging machinery market is the food & beverages segment, which is expected to grow at a CAGR of 5.1% by 2030. Packaging machinery manufacturers offer a wide range of automated solutions for the cosmetics industry, which offers best packaging solutions for a wide range of products. These packaging free solutions offer eco-friendly and contaminant free packaging. Filling machines used in the cosmetics industry offer a wide range of high quality packaging formats for different products like pouches, strips, tubes, and sachets.
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Key Findings Of The Study
- The report provides an extensive analysis of the current and emerging packaging machinery market trends and dynamics.
- By end user, the food & beverages segment dominated the packaging machinery market, in terms of revenue in 2020 and is projected to grow at a CAGR 5.1% during the forecast period.
- By type, the filling machines segment led the packaging machinery market in 2020.
- Asia-Pacific region is projected to register the highest growth rate in the coming years.
- The key players within the packaging machinery market are profiled in this report, and their strategies are analyzed thoroughly, which help understand the competitive outlook of the packaging machinery industry.
Aetna Group S.p.A., B&H Manufacturing Company, Inc., Barry-Wehmiller Companies, Inc., CKD Corporation, Coesia S.p.A., Duravant LLC, Fuji Machinery Co., Ltd., Langley Holdings, PLC, Robert Bosch GmbH, and The Adelphi Group of Companies.