The packaging equipment global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Packaging Equipment Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The packaging equipment market size has grown strongly in recent years. It will grow from $42.1 billion in 2023 to $44.52 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to focus on efficiency, healthcare and pharmaceutical requirements, urbanization and consumer demand, advancements in smart packaging, stringent regulations..
The packaging equipment market size is expected to see strong growth in the next few years. It will grow to $60.73 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to cost-efficiency and performance, healthcare and pharmaceutical growth, rise of smart packaging, rapid urbanization, food safety and hygiene, customization and flexibility.. Major trends in the forecast period include automation and industry 4.0 integration, sustainability initiatives, customization and flexibility, smart packaging technologies, consumer safety and hygiene standards..
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Scope Of Packaging Equipment Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Packaging Equipment Market Overview
Market Drivers –
The growing need for flexible and integrated packaging machinery is expected to propel the growth of the packaging equipment market going forward. Flexible and integrated packaging machinery refers to equipment that processes a film to produce filled bags, sticks, pouches, and others. It is a coordinated system of preparing goods for safe, economical, and efficient movement throughout the entire supply chain, ultimately leading to the maximization of consumer value, sales, and consequently profits, thus, also creating significant demand for packaging equipment. For instance, in October 2022, according to a report published by The Association for Packaging and Processing Technologies (PMMI), a US-based packaging industry association, there was an 11.2% increase in domestic shipments of packaging machinery, resulting in a total category value of $10.5 billion. Converting machinery also experienced growth in the preceding year, with a 9.5% rise in domestic shipments, reaching $1.1 billion. Therefore, the growing need for flexible and integrated packaging machinery is driving the growth of the packaging equipment market.
Market Trends –
Technological advancements are a key trend gaining popularity in the packaging equipment market. Major players are concentrating their efforts on creating innovative technologies to sustain their position in the packaging equipment market. For instance, in 2022, Viking Masek Packaging Technologies, a US-based manufacturer of high-performance automated packaging systems, launched the 4SC-235, a new automated pouch packaging machine developed with small businesses in mind. Viking Masek has helped an entirely new client market with the invention of the 4SC-235 prefabricated pouch machine. It also provides existing brand-loyal customers with a small, highly productive, premade pouch packaging solution.
The packaging equipment market covered in this report is segmented –
1) By Product: Fillers, Form Fill Seal, Lapping, Labelling, Coding, Bottling line
2) By Technology: General Packaging, Modified Atmosphere Packaging, Vacuum Packaging
3) By Application: Food & Beverage, Pharmaceuticals, Chemicals, Personal Care
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Regional Insights –
Asia-Pacific was the largest region in the packaging equipment market in 2023. The regions covered in the packaging equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the packaging equipment market report are Barry-Wehmiller Companies Inc., Coesia S.p.A., Krones AG, Robert Bosch Packaging Technology GmbH, Douglas Machine Inc., Dover Corporation, Illinois Tool Works Inc., Amcor plc, Bemis Company Inc., GEA Group AG, Graphic Packaging Holding Company, Duravant LLC, Sacmi Imola S.C., Marchesini Group S.p.A., Garvey Corporation, Accutek Packaging Equipment Companies Inc., Adelphi Group Ltd., Arpac LLC, Oystar Holding GmbH, Berhalter AG, Multivac Inc., Nichrome India Ltd., Cougar Packaging Solutions Inc., Duravant LLC, Fuji Machinery Co. Ltd., Omori Machinery Co. Ltd., Harland Machine Systems Ltd., IMA S.p.A., Ishida Co. Ltd., KHS GmbH, Kyana Packaging & Industrial Supply Inc., Practical Packaging Solutions, R.A Jones & Co. Inc. .
Table of Contents
1. Executive Summary
2. Packaging Equipment Market Report Structure
3. Packaging Equipment Market Trends And Strategies
4. Packaging Equipment Market – Macro Economic Scenario
5. Packaging Equipment Market Size And Growth
…..
27. Packaging Equipment Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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