Packaging Machinery Market is Likely To Touch $66.14 Billion by 2030: Grand View Research Inc.

 

Packaging Machinery Market Growth & Trends

The global packaging machinery market size is expected to reach USD 66.14 billion by 2030, according to a new report by Grand View Research, Inc, expanding at a CAGR of 4.6% over the forecast period. A significant increase in the demand for convenience food products is driving industry growth. Convenience food includes all types of packaged food products. The demand for packaged food is mainly contributed by the millennial and gen-z customers who are more inclined towards ease and convenience. The industry growth is also attributed to the rising need for differentiation in retail shops since customers are demanding greater product diversity and a wider range of products.

Packaging differentiation calls for the attention of the customer by using unique sizes, shapes, and materials. This subsequently leads to an increasing inclination of manufacturers toward unique packaging styles and drives product growth. Packaging equipment is used in the pharmaceutical industry for packaging medicines and drugs in a safe environment. The pharma industry has witnessed significant growth over the last decade owing to the increased demand for pharmaceutical drugs in BRICS and MIST countries. The development of new generic drugs and medicines has also fueled the pharma industry's growth. The growing e-commerce industry across the world, rising internet penetration & number of e-commerce players, changing lifestyles, and developments in logistics are facilitating the growth of e-commerce shopping.

Packaging equipment is required throughout the e-commerce supply chain stages. Therefore, a rise in the e-commerce industry is expected to propel the packaging equipment industry growth over the forecast period. The market experienced a setback during the COVID-19 pandemic. As a result of supply chain disruption and lack of workforce availability, product demand was impacted. A high number of COVID-19 cases across the globe affected consumer shopping at retail shops and convenience stores. Key companies are actively focusing on strategies, such as technological developments, joint ventures, mergers, and acquisitions, to strive in the competitive industry. In Feb 2022, SIG Combibloc Group Ltd. acquired packaging company, Scholle IPN. It enables SIG to offer sustainable low-carbon packaging solutions across various product types and sizes.

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Packaging Machinery Market Report Highlights

• The form-fill-seal segment is expected to register the fastest CAGR during the forecast period. Many businesses prefer to use FFS systems as they provide additional advantages, such as versatility and speed
• The need to store a variety of clinical products has resulted in high demand for carton machines from the healthcare sector, which is expected to generate profitable growth opportunities for this industry
• The food end-use segment held the largest revenue share in 2021 owing to the increased demand for packaged food products brought on by improving standards of lifestyle, rising disposable income, and a growing middle-class population
• Asia Pacific is estimated to be the largest as well as the fastest-growing regional market due to the rising need for highly integrated & automated equipment and favorable packaging & labeling laws in the region
• In September 2020, Krones AG, in partnership with Innocent (Fresh Trading Ltd.), built a new CO2-neutral bottling plant in the Port of Rotterdam. Innocent has invested around USD 250 million in the bottling plant

Access Press Release@ https://www.grandviewresearch.com/press-release/global-packaging-machine-market

Packaging Machinery Market Segmentation

Grand View Research has segmented the global packaging machinery market on the basis of machine-type, end-use, and region:

Packaging Machinery Machine-type Outlook (Revenue, USD Billion, 2017 - 2030)

• Filling
• Labeling
• Form-Fill-Seal
• Cartoning
• Wrapping
• Palletizing
• Bottling Line
• Others

Packaging Machinery End-use Outlook (Revenue, USD Billion, 2017 - 2030)

• Beverages
• Food
• Chemicals
• Personal Care
• Pharmaceuticals
• Others

Packaging Machinery Regional Outlook (Revenue, USD Billion, 2017 - 2030)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK.
  • Spain
  • Italy
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
• Central & South America
  • Brazil
• Middle East & Africa
  • Saudi Arabia
  • UAE

List of Key Players of Packaging Machinery Market

• Langley Holding plc
• Maillis Group
• Rovema GmbH
• Douglas Machine Inc.
• KHS Group
• SIG
• Tetra Laval International S.A.
• Krones AG
• M.A. Industria Macchine Automatiche S.p.A.
• Syntegon Technology GmbH
• ProMach
• GEA Group Aktiengesellschaf
• Sacmi
• Coesia S.p.A.
• Duravant

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.