Packaging Machinery Market

Packaging Machinery Market Size, Share, Growth(2023-2028)

Packaging Machinery Market is Projected to grow with a CAGR of 6.7% and reach around USD 62.34 Billion by 2028 during the forecast period 2023-2028

Packaging is of prime importance across a range of end-use sectors, including food and beverage, chemicals, personal care, and medical. Packaging plays an important role in shielding the consumer from external factors, including heat, humidity, biological contaminants, and physical damage.

Packaging Machinery Market Drivers & Restraints

Increasing demand for packaged food & beverages is expected to drive overall growth in packaging equipment in the coming years due to the rise in urbanization and the middle-class population base. Increasing awareness of product quality preservation and sustainable packaging leads to the growth of market demand for packaging machinery. The expectations of the packaged food & beverage industry motivated companies to adopt such approaches in order to maintain their products ' value. Rapid technological advances and spending on human resources are the major challenges in the packaging machinery Market. Automation, however, slowly penetrates the packaging equipment market and thereafter minimizes human resources costs. In turn, the manufacturers adapt to the new developments in order to maintain their market share.The beverage industry has experienced a growing demand for rigid packaging solutions like filling and palletizing machines to assist in hard plastics or bottles of packaging beverages. Increasing awareness of food brands as a result of marketing by international companies and a growth in demand for ready-to-eat food in accordance with the liberalization of trade in food and agriculture are to provide lucrative opportunities for growth of the market for packaging machinery.

Report Coverage:

Packaging Machinery Market Segmentation:

By Machine Type

• Filling

• Labeling

• Form-Fill-Seal

• Cartooning

• Wrapping

• Palletizing

• Bottling Line

By End-User

• Food

• Beverages

• Chemicals

• Personal Care

• Pharmaceuticals

By Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East & Africa

North America has accounted for approximately 25 percent of the market share for packaging equipment in recent years and is rising at a rapid pace due to the rise of smart packaging solutions in several industrial sectors. Manufacturers integrate many advanced technologies into these devices to provide remote monitoring and control, phone access, and other smart features. With automation enhancing its foothold in the packaging machinery market in North America, food & beverage and drug manufacturers focus on integrating advanced software to reduce human intervention.

It is projected that the Asia Pacific will lead with China holding the largest regional market share throughout the forecast period. Increasing disposable income and rising population are the main factors bolstering the demand of the market in this region. In addition, it is expected that the policies of the Chinese government to promote domestic consumption, energy-saving, and environmental friendliness coupled with technology and equipment upgrades would boost market growth. In addition, demand for both primary and secondary packaging has increased further in the booming e-commerce industry.

Europe is made up of major nations including Russia, Spain, Germany, Italy, and the United Kingdom, along with the countries of Eastern and Central Europe. In terms of value, Europe was the second most important region in 2020, owing to the high demand for fully automated, flexible and efficient packaging machines from several major end-users, including food, drinks, chemicals, personal care, pharmaceuticals, and many others.

Packaging Machinery Keyplayers:

1. Robert Bosch GmbH

2. Salzgitter AG

3. Krones AG

4. Coesia S.p.A

5. Tetra Laval International S.A, and I.M.A

6. Industria Macchine Automatiche S.p.A