NEWARK, Del, Oct. 17, 2023 (GLOBE NEWSWIRE) -- The packaging machinery market is estimated to be worth US$ 59.3 billion in 2023 and projected to be valued at US$ 92.0 billion in 2033. Between 2023 and 2033, the market is expected to register a growth rate of 4.5%.
The thriving e-commerce industry is boosting packaging machinery sales as there is a high need for packaging machines at all stages of e-commerce manufacturing processes. These processes include primary and secondary packaging, labeling, and product tagging and marking.
The growing consumer demand for packaging that offers convenience features like resealable packaging, portion control, and easy-open solutions is driving innovation in packaging machinery.
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Increased global trade and the export of packaged goods necessitate efficient and standardized packaging solutions, boosting the demand for advanced packaging machinery. The increasing technological advances in packaging are increasing the demand for packaging machinery operating on IoT and smart embedded technologies.
The stringent regulations and quality requirements in the pharmaceutical driving the demand for global pharmaceutical packaging machinery. The increasing demand for advanced packaging machinery increases the opportunity in the pharmaceutical packaging industry.
The rise of beverages and packaged food has boosted the demand for packaging machinery. The developing processed food industry is predicted to be a key driver for the market.
A few other factors promoting market growth include expanding urbanization, rising household spending power, a developing e-commerce industry, and solid government policies promoting energy conservation and technological and equipment upgrades.
Key Takeaways
- From 2018 to 2022, the packaging machinery market demand expanded at a CAGR of 4.0%
- Based on machine type, the filling & dosing segment is expected to account for a CAGR of 4.4% during the forecast period.
- Global packaging machinery demand in Germany is predicted to develop at a CAGR of 4.2% from 2023 to 2033.
- In the United States, the market is expected to reach US$ 42.1 billion between 2023 and 2033.
- A growth rate of 4.3% is estimated for the food segment over the forecast period.
- China is projected to expand by 4.2% between 2023 and 2033.
- By 2033, the packaging machinery market in India is anticipated to record a CAGR of 4.0% during the forecast period.
“The packaging machinery demand is likely to grow with the increasing demand for packed goods and the rising importance of functional and healthy food. Increasing usage of packaging machinery in pharmaceuticals and personal care is anticipated to support the growth of the market during the forecast period." says Ismail Sutaria, Principal Consultant at Future Market Insights
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Competitive Landscape
The market players invest in research and development, sustainability initiatives, and digitalization to stay competitive and provide innovative packaging solutions to a wide range of industries. Some of the recent developments in the market are discussed below.
- Bosch Packaging Technology is a well-known name in the packaging machinery industry, offering a wide range of packaging solutions. The company has focused on sustainability and eco-friendly packaging solutions to meet the growing demand for environmentally conscious packaging. Bosch has also invested in automation and Industry 4.0 technologies to enhance the efficiency and flexibility of its packaging machinery.
- Barry-Wehmiller Companies is known for its diverse range of packaging machinery and services. The company has a strong focus on customer-centric solutions and has been working on tailor-made packaging solutions for various industries. Barry-Wehmiller has also been integrating digital technologies into its packaging machinery to improve efficiency and traceability.
Report Scope-
| Attributes | Details | |||
| Estimated Market Size in 2023 | US$ 59.3 billion | |||
| Projected Market Valuation in 2033 | US$ 92.0 billion | |||
| Value-based CAGR 2023 to 2033 | 4.5% | |||
| Forecast Period | 2023 to 2033 | |||
| Historical Data Available for | 2018 to 2022 | |||
| Market Analysis | Value in US$ billion | |||
| Key Regions Covered |
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| Key Market Segments Covered |
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| Key Countries Profiled |
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| Key Companies Profiled |
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Key Segmentations-
By Machine Type:
- Filling & Dosing
- Labelling, Deco., and Coding
- Form, Fill, & Seal
- Cartoning Machines
- Case Handling
- Closing
- Wrapping & Bundling
- Palletizing & Depalletizing
- Bottling Line
- Conveying Machines
- Other
By Packaging Technology:
- Automatic
- Manual
- Semi-automatic
By End-use:
- Beverages
- Food
- Chemicals
- Homecare & Personal Care
- Pharmaceuticals
- Others
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show - Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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