Dallas, Texas, United states, Oct. 25, 2021 (GLOBE NEWSWIRE) -- Global Packaging Machinery Market was valued at USD 42.8 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.1% from 2021 to 2027.
The packaging machinery is used for several functions such as container cleaning, filling, and forming, canning, sealing, and lidding, bagging, packing, bottling, unpacking, wrapping, shrink film, and heat sealing, inspection and check weighing, palletizing and depalletizing, case forming, labeling, encoding and many other applications.
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Impact of the COVID-19
The COVID 19 pandemic has impacted the growth of the packaging machinery industry owing to the lockdown measure in the countries and delay in manufacturing and production of packaging machinery which are used in wide range of industries for packaging.
Regional Analysis
Asia Pacific led the market and accounted major share of the global revenue in 2020. The growing manufacturing of the consumer electronics like phones, tablets, and other gadgets need packaging cartons which contribute significantly to demand for packaging machinery in the APAC region. North America is likely to expand the market in forecast period.
Key Development
In May 2019, Sealed Air Corp. declared an agreement to acquire Automated Packaging Systems, Inc. (APS), a leading manufacturer of high-reliability, automated bagging systems, for a purchase price of $510 million on a cash and debt-free basis. Sealed Air will benefit from cross-selling opportunities enabling additional growth in key markets.
October 2019 krones AG partnered with Stadler anlagenbau GmbH to develop recycling technology, which will help in the reduction and improvement of interfaces.
Key Players
The key market players in the packaging machinery market are Aetna Group S.p.A., B&H Manufacturing Company, Barry-Wehmiller Companies, CKD Corporation, Coesia S.p.A., Duravant LLC, Fuji Machinery Co.Ltd., Langley Holdings plc, Robert Bosch GmbH, and The Adelphi Group of Companies.
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Packaging Machinery Market Segmentation
By Type
- Filling Machines
- Form, Fill and Seal (FFS) Machines
- Cartoning Machines
- Palletizing Machines
- Labelling Machines
- Wrapping Machines
- Cleaning & Sterilizing Machines
By Business
- OEM
- Aftermarket
By End-user
- Food and Beverages
- Chemical
- Cosmetics
- Pharmaceuticals
- Others
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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