The Global Market for Packaging Machinery is Projected to Reach US$52.3 Billion by 2024

New Packaging Formats and Technology Innovations Drive the Global Packaging Machinery Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market size, share and demand forecasts on the global Packaging Machinery market. The global market for Packaging Machinery is projected to reach US$52.3 billion by 2024, driven by the growing demand for processed and packaged foods and beverages, new packaging formats, technology innovations aimed at improving efficiency, sustainability, flexibility and performance of packaging machines.

Packaging is considered a critical component of marketing because of its strong impact on purchasing decisions of customers. Packaging machinery is extensively used for filling, coding, labeling, and wrapping products. Product and technological innovations, rising equipment standardization, and mounting packaging concerns are characteristic of new trends in the industry.  Demand for new packaging machinery is led by use of packaging as a marketing tool, and growing consumer preferences for package convenience and product information. Several factors, including increasing technological advancements within the modular packaging machines market, increasing availability of packaged food products, for packaging materials, which enhance the safety of packaged products and increase their shelf life, multipacks and growing automation of multiple sectors, are driving the growth of the worldwide packaging machinery market.

Over the last few years, the packaging industry has witnessed an increased shift towards machines that offer improved efficiency, sustainability, flexibility and superior performance. Increasing trends of online purchases and emergence of discount retailing megastores and superstores are creating demand for packaging that is light-weight, more condensed, and less expensive. These trends are encouraging companies to upgrade production equipment with flexible and more productive machinery. Value-added packaging is an important trend driving demand for new and efficient packaging machinery from a wide group of customer industries. Integrated system solutions are increasingly becoming customary because of escalating customer specifications, concerns for enhanced product quality, and mounting issues of equipment standardization. As a result, intra- and inter-value chain technological alliances are on the upswing, to devise completely customized automation solutions. With integrated machinery technology and digital information flow playing a critical role in modern factories, most packaging machinery companies are engaged in developing products suitable for Industry 4.0.

The food service sector is expected to remain the most compelling end-user industry for packaging machinery. Demand for pharmaceutical packaging machinery is also expected to witness amplified gains because of increase in drug manufacturing capacity. With shortened innovation cycles and heightened competition, these sectors are expected to invest massive amounts in innovative packaging technologies, concepts, and machinery. Enhanced automation, integration, faster changeover, versatility and shorter turnaround times are key determinants of market growth. Proliferation of supermarkets and in-store brands are likely to fuel growth for wrapping machinery, particularly the Individual Wrapping Machinery segment. Internet has emerged as a platform for business-to-business procurement and sale of packaging machinery.

As stated by the new market research report on Packaging Machinery, Asia-Pacific represents the largest and the fastest growing market worldwide. The region is forecast to register a CAGR of 3.7% over the analysis period led by factors such as growing middle class population, surging exports, continued growth in manufacturing output as well as a favorable environment for investments in fixed assets.

Major players in the market include Adelphi Packaging Machinery, Barry-Wehmiller Companies Inc., Bosch Packaging Technology, The Bradman Lake Group Ltd., B & H Labeling Systems, CKD Corporation, Coesia SpA, EDL Packaging Engineers Inc., Harland Machine Systems Ltd., Herma UK Ltd., Industria Macchine Automatiche (I.M.A) SpA, Krones AG, Lantech, Molins PLC, Newman Labeling Systems Inc., Norden Machinery AB, Orion Packaging Systems, Salzgitter AG, Scandia Packaging Machinery Co., SIG Combibloc, Strapack Corp., Tetra Laval International S.A, Uhlmann Pac-Systeme GmbH & Co. KG., and Winpak Ltd., among others

The research report titled “Packaging Machinery: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, and strategic industry activities of market participants. The report provides market estimates and projections for major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, South Korea and Rest of Asia-Pacific), Middle East & Africa, and Latin America. Product segments analyzed in the report include Bottling Line Machinery, Case Forming & Sealing Machinery, Form-Fill-Seal Machinery, Coding/Marking/Labeling Machinery, Filling & Dosing Machinery, Cartoning Machinery, Wrapping/Bundling Machinery, Palletizing Machinery, and Others.

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