Packaging Machinery Market to Reach $62.43 Billion by 2030
Added: (Tue Nov 07 2023)
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Meticulous Research®—a leading global market research company, published a research report titled, ‘Packaging Machinery Market by Type (Carded Packaging Machines, Filling Machines, Labelling Machines), by Function, Automation (Automatic, Semi-automatic), End-use (Food & Beverages, Healthcare & Pharmaceuticals,) and Geography - Global Forecasts to 2030.’
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By value, the global packaging machinery market is projected to reach $ 62.43 billion by 2030, at a CAGR of 5.4% from 2023 to 2030. By volume, the global packaging machinery market is projected to reach 13,603 thousand units by 2030, at a CAGR of 6.2% from 2023 to 2030.
The growth of this market is driven by the increase in goods manufacturing across industries, favorable government regulations for product safety, and technological advancements in fill-finish manufacturing processes. However, high initial costs associated with installing packaging machinery and stringent regulations to limit plastic usage restrain the growth of the global packaging machinery market. The rising foodborne diseases and increasing demand for processed and packaged products are expected to create growth opportunities for the players operating in this market. However, the lack of skilled operators is a major challenge for market growth.
The global packaging machinery market is segmented by type, function, automation mode, end-use industry, and geography. The study also evaluates industry competitors and analyses the country and regional-level markets.
Based on type, the global packaging machinery market is segmented into carded packaging machines, cartoning machines, case erectors, filling machines, stretch wrappers, shrink wrapping machines, case packers, labeling machines, bottle packaging machines, and other packaging machines. In 2023, the carded packaging machines segment is expected to account for the largest share of the packaging machinery market. This segment’s large market share is mainly attributed to the increasing use of carded packaging for pharmaceutical and consumer electronic products to ensure product safety.
Based on function, the global packaging machinery market is segmented into single function and multi-function. In 2023, the multi-function segment is expected to account for the largest share of the global packaging machinery market. The segment’s large market share is mainly attributed to the capabilities of machines to perform various tasks such as vertical form-filling-sealing, horizontal packing, bag placing, and rotary packing. Some key features of multi-function packaging machinery include automated controls, high-speed operation, and easy-to-use interfaces that allow operators to quickly and efficiently set up and run the machine.
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Based on automation mode, the global packaging machinery market is segmented into automatic and semi-automatic packing machines. In 2023, the automatic packing machines segment is expected to account for the largest share of the global packaging machinery market. The large market share of this segment is attributed to the benefits offered by automatic packing machines, such as increased efficiency, reduced costs, and improved product quality & safety. Automatic packing machines can pack products faster and more efficiently than manual labor, allowing businesses to increase production output and meet growing demand.
Based on end-use industry, the global packaging machinery market is segmented into food & beverages, healthcare & pharmaceuticals, agriculture, chemicals, personal care, consumer electronics, apparel & footwear, and other end-use industries. In 2023, the food & beverages segment is expected to account for the largest share of the global packaging machinery market. The large market share of this segment is attributed to the shifting consumer tastes, intensifying competition in the packaged food market, and a surge in demand for packaged food.
Based on geography, the packaging machinery market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa (MEA). In 2023, Asia-Pacific is expected to account for the largest share of the global packaging machinery market, followed by Europe, North America, Latin America, and the Middle East & Africa. The large share of this market is mainly attributed to several factors, including governmental initiatives to promote the adoption of environmentally sustainable packaging, consistent advancements in packaging technology by industry leaders, and expansion in the food sector.
The key players operating in the global packaging machinery market are Krones AG (Germany), TETRA PAK INTERNATIONAL S.A. (Switzerland), Adelphi Group of Companies (U.K.), FUJI MACHINERY CO., LTD. (Japan), Syntegon Technology GmbH (Germany), SIG Group AG (Switzerland), Barry-Wehmiller Group, Inc. (U.S.), COESIA S.P.A. (Italy), Marchesini Group S.p.A. (Italy), KHS GmbH (Italy), GEA Group Aktiengesellschaft (Germany), MULTIVAC Sepp Haggenmüller SE & Co. KG (Germany), OPTIMA Packaging Group GmbH (Germany), ISHIDA CO., LTD. (Japan), Omori Machinery Co., Ltd. (Japan), and TNA Australia Pty Limited (Australia).
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Key Questions Answered in the Report:
Which are the high-growth market segments in terms of type, function, automation mode, end-use industry and geography?
What is the historical market size for packaging machinery across the globe?
What are the market forecasts and estimates for the period 2023–2030?
What are the major drivers, restraints, opportunities, and challenges in the global packaging machinery market?
Who are the major players in the market, and what are their market shares?
How is the competitive landscape for the global packaging machinery market?
What are the recent developments in the global packaging machinery market?
What are the different strategies adopted by the major players in the market?
What are the key geographic trends, and which are the high-growth countries?
Who are the local emerging players in the global packaging machinery market, and how do they compete with other players?
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