Pune, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Packaging Machinery Market Analysis:
“According to SNS Insider Research, The Packaging Machinery Market size was valued at USD 46.2 Billion in 2023 and is now anticipated to grow to USD 73.09 Billion by 2032, displaying a compound annual growth rate (CAGR) of 5.23% during the forecast period 2024-2032.”
Technological Advancements and Consumer Trends Drive Growth and Innovation
The market growth is mostly influenced by the growing demand for faster production, higher accuracy, and automation to satisfy the consumers need for packed food. Processed food is in high demand due to its convenience, simplicity, and time-saving abilities, which drives consumers to buy food and beverages. As millennials and Gen-Z become the major consumer of the products, most of the demands will be in more convenient products. Automation, robotics, and other devices are becoming an ever-increasing part of the industries. In Europe, the food was the leading market in 2023, and beverages were the second-largest.
In the U.S., the packaging machinery sector is predicted to be one of the major improvements over 60% of the machines are expected to be automated and IoT-equipped by 2030. The increase in production will also result in the growing demands for more effective production. The growth can also be seen due to the trend for sustainability, as the biodegradable and recyclable markets will expand. In addition, the customized and flexible wrap will become more popular, leading to the increases in overall purchasings.
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Key Players Listed in this Report are:
- Krones AG
- GEA Group
- M.A. Industria Macchine Automatiche S.p.A.
- Tetra Laval International S.A.
- ProMach
- Aktiengesellschaf
- Syntegon Technology GmbH
- Coesia S.p.A.
- Duravant
- Maillis Group
- Other Players
Packaging Machinery Market Report Scope:
| Report Attributes | Details |
| Market Size in 2024 | US$ 46.2 Billion |
| Market Size by 2032 | US$ 73.09 Billion |
| CAGR | CAGR of 5.23% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Key Growth Drivers | • Urbanization and rising incomes boost demand for convenient packaged goods, fueling the packaging machinery market across food, beverage, personal care, and pharmaceutical sectors. • Sustainability prioritizes eco-friendly materials and waste reduction, boosting demand for packaging machinery aligned with these goals. |
Segmentation Analysis
Form-Fill-Seal Machines Lead Packaging Equipment Market with 35.4% Share In 2023.
Based Type: Form-Fill-Seal (FFS) holds the largest market share at approximately 35.4%. The reason for this section's success lies in its ability to perform all packaging tasks in one go - from shaping to filling to sealing materials. FFS machines are extremely effective and commonly utilized in the food and beverage industry for mass production processes, including handling, packaging, and transportation of food products. This effectiveness results in savings in both time and cost, which is why FFS machines are a favored option among manufacturers.
By end user: the Food industry is at the forefront of the market, holding approximately 36.2% of the share. Growing demand for packaging equipment is being fueled by the growing desire for convenience in packaged food and the increasing popularity of organic food products that require unique packaging solutions. Automation and Industry 4.0 are increasing efficiency and safety, additionally driving growth in the packaging machinery market within the food industry.
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Asia-Pacific Dominated Packaging Machinery Market with 36.24% Share in 2023.
The Asia-Pacific region held the top position with a market share of approximately 36.24%. The reason for this dominance is the quick increase in population and increased buying ability of consumers in the area, leading to a high demand for packaged products. Moreover, the growth of the e-commerce sector is also fueling market expansion by elevating the demand for effective packaging options to cater to the requirements of online shopping.
Packaging Machinery Market Key Segmentation
By Technology
- General Packaging
- Modified Atmosphere Packaging
- Vacuum Packaging
By Type
- Filling
- Labeling
- Form-Fill-Seal
- Cartooning
- Wrapping
- Palletizing
- Bottling Line
- Others
By End Use
- Beverages
- Food
- Chemicals
- Personal Care
- Pharmaceuticals
- Others
Explosive Future Growth for Packaging Machinery Market Automation and Sustainability Drive Expansion Over the Next Decade
The Packaging Machinery Market is expected to witness considerable growth in the coming years. The increasing shift towards automation and technological development is expected to progress the market. Automation techs such as robotics and IoT to increase the efficiency and precision of the operations along with decreasing the labor costs. Inclinations of the consumer towards more sustainability practices are also influencing the market as demand for eco-friendly and recyclable packaging material is increasing which the industries need to adapt relative packaging technologies. The competitiveness of the current market will ensure the broader application and demand for advanced packaging techs which enable the companies to produce a higher variety of convenience-oriented products. The high rates e commerce adoption will put more pressure on companies to adapt themselves for high-scaling operation and packaging solutions for the delivery of the customers. Over times, new materials and technologies will emerge and progress the entire packaging machinery sector which will enable the growth and development.
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Key Takeaways
- Customers will achieve an advantage if they understand innovations in automation and technology that have been increasing production effectiveness and operation expenses of the packaging machinery industry.
- If the delivery provides information regarding current and future trends of the industry, and market revenue growth, customers will be able to make decisions regarding investment and packaging machinery strategy.
- The report should provide information about the innovations and development of new packaging machinery. This will focus customers’ attention on the most recent achievements and will contribute to competitiveness.
- If there is detailed regional analysis, customers may understand the area of a potential growth and adjust their strategies to corresponding markets.
- Customers demand information that shows how changes in demand affected packaging machinery. It will help the companies to adjust the product to customers’ needs and demands.
Table of Contents – Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Packaging Machinery Market Segmentation, by Technology
8. Packaging Machinery Market Segmentation, by Type
9. Packaging Machinery Market Segmentation, by End User
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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