The Future Of The Packaging Machinery Market: Insights And Projections

Packaging Machinery Industry Overview

The global packaging machinery market size was estimated at USD 44.17 billion in 2021 and is anticipated to grow at a compound annual growth rate (CAGR) of 4.6% from 2022 to 2030. The key factors propelling the industry growth include the high demand for packaged foods & beverages and rising consumer spending on pharmaceuticals & personal care products. The COVID-19 pandemic had a significant impact on the global industry. The high number of COVID-19 cases across the globe affected consumer shopping at retail shops and convenience stores. Also, disruption of the supply chain and lack of availability of the workforce negatively impacted the industry growth. However, over the forecast period, the industry is expected to recover swiftly.

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Packaged food and beverages offer convenience, ease, and time efficiency. These aspects of packaged foods and beverages are the factors encouraging consumers to spend on such products. Over the forecast period, an increasing share of millennials and Gen-Z in consumer profiles is likely to boost the demand for convenience products. Furthermore, the growth is driven by growing innovations and technology improvement. Advancements, such as automation, robots, and other technologies, are improving product penetration in various industries. Automated and semi-automated packaging machines are helping the end-user industries to scale up effectively while controlling the costs of operations.

Packaging equipment is required by various logistics organizations to wrap and package their products before shipping. E-commerce is gaining momentum across the world facilitated by the rising penetration of internet connections and online retailers. Thus, the rising popularity of e-commerce and online shopping is also expected to drive the industry growth over the forecast period. Developed efficient packaging equipment and vacuum packaging techniques to encourage the established end-user industries to adopt solutions for optimal business expansion, thereby supporting growth. Furthermore, the demand for environmental packaging is being encouraged by the strict laws imposed by the governments of industrialized nations; this, in turn, is boosting industry growth.

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Key Companies profiled:

• Langley Holding plc

• Maillis Group

• Rovema GmbH

• Douglas Machine Inc.

• KHS Group

• SIG

• Tetra Laval International S.A.

• Krones AG

• I.M.A. Industria Macchine Automatiche S.p.A.

• Syntegon Technology GmbH

• ProMach

• GEA Group Aktiengesellschaf

• Sacmi

• Coesia S.p.A.

• Duravant