Redding, California, April 12, 2023 (GLOBE NEWSWIRE) -- According to a new market 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, 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.
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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.
Increase in the Manufacturing of Goods across Industries Support the Growth of the Packaging Machinery Market
In recent years, there has been steady and consistent growth in pharmaceutical, food & beverage, and consumer electronics, among other industries that are major end users of packaging machinery. These industries are scaling up manufacturing activities due to increased consumption, driving the utilization of packaging machinery. These industries are also witnessing an influx of investments that are driving the utilization of modern technologies and systems. For instance, from April to September 2022, Foreign Direct Investment (FDI) in the food processing sector reached USD 410.6 million, an increase of 86% over the same period in 2021. Also, according to the EY FICCI report (2022), the pharmaceutical market in India is projected to reach USD 130 billion in value by the end of 2030 due to the development of new innovative therapies.
The global pharmaceutical market is expected to cross USD 1 trillion in 2023. Such high growth in manufacturing is expected to increase the adoption of packaging machinery, driving the packaging machinery market. Several countries, including Spain, Germany, Italy, and Switzerland, are witnessing growth in food processing and goods manufacturing activities, which is expected to drive the demand for packaging machinery.
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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.
Carded packaging machines are often used in high-volume production environments where efficiency and consistency are critical. They can help reduce labor costs and increase production throughput while providing high precision and accuracy in packaging.
However, the shrink wrapping machines segment is projected to register the highest CAGR during the forecast period. The growth of this segment is attributed to growing exports and imports worldwide and the benefits of shrinking packaging.
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. One of the main advantages of multi-function packaging machinery is its ability to reduce the need for multiple machines and operators, which can help to reduce production costs and increase efficiency. These machines can also improve product quality and consistency by providing precise and accurate packaging.
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. Automatic packing machines come in various configurations, depending on the specific needs of the packaging operation. Common automatic packing machines include vertical form fill and seal machines, horizontal flow wrap machines, and cartoning machines.
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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. Using packaging machinery in the F&B industry can help improve efficiency, reduce labor costs, and maintain product quality and safety by automating the packaging process. Manufacturers can also increase their production throughput and ensure consistency in the packaging of their products. However, the healthcare & pharmaceuticals segment is projected to register the highest CAGR during the forecast period.
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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Scope of the Report
Packaging Machinery Market, by Type
- Carded Packaging Machines
- Blister Packaging Machines
- Clamshell Packaging Machines
- Skin Packaging Machines
- Cartoning Machines
- Horizontal Cartoning Machines
- Vertical Cartoning Machines
- Case Erectors
- Filling Machines
- Agitator Fillers
- Flow Fillers
- Vertical Form-fill-seal Machines
- Other Filling Machines
- Stretch Wrappers
- Orbital Wrappers
- Ring Straddle Wrappers
- Straddle Wrappers
- Turntable Wrappers
- Shrink Wrapping Machines
- Case Packers
- Labelling Machines
- Bottle Packaging Machines
- Other Packaging Machines
Packaging Machinery Market, by Function
- Single Function
- Multi-function
Packaging Machinery Market, by Automation Mode
- Automatic Packing Machines
- Semi-automatic Packing Machines
Packaging Machinery Market, by End-use Industry
- Food & Beverages
- Dairy
- Beverages
- Alcoholic Beverages
- Non-alcoholic Beverages
- Snack Foods
- Chips
- Nuts and Seeds
- Other Snacks
- Meat, Poultry, and Seafood
- Other Products
- Healthcare & Pharmaceuticals
- Dietary Supplements
- Functional foods
- Medicine
- Pills & Capsules
- Medical Devices and Supplies
- Medical Testing Kits
- Agriculture
- Fertilizers
- Seeds
- Pesticides
- Chemicals
- Powders
- Liquid
- Granules
- Personal Care
- Fragrances
- Decorative Cosmetics
- Body Care
- Hair Care
- Consumer Electronics
- Apparel & Footwear
- Other End-use Industries
Packaging Machinery market, by Geography
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia & New Zealand
- Rest of Asia-Pacific
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Denmark
- Netherlands
- Rest of Europe
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- UAE
- Israel
- Saudi Arabia
- Rest of MEA
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