Categories: Food & Beverages

Global Packaging Machinery Market Size, Share, Growth

The Packaging Machinery Global Market Report 2023 by The Business Research Company, provides packaging machinery market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Packaging Machinery Global Market Report 2023, the market size is expected to grow from$41.23 billion in 2022 to $43.54 billion in 2023 at a compound annual growth rate (CAGR) of 5.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, causing inflation across goods and services and affecting many markets across the globe. The market size of the packaging machinery market size is expected to grow to $54.43 billion in 2027 at a CAGR of 5.7%.

The increasing demand for packaged food and beverages is expected to propel the growth of the packaging machinery market going forward. The changing lifestyles of consumers have led to high demand for processed and convenience food and beverage products. In emerging countries, the expanding working population has a greater need for processed foods and higher consumption of convenience foods.

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The packaging machinery market is segmented:

1) By Machine Type: Filling, Labeling, Form-Fill-Seal, Cartoning, Wrapping, Palletizing, Bottling Line

2) By Technology: General Packaging, Modified Atmosphere Packaging, Vacuum Packaging

3) By Business: OEM, Aftermarket

4) By End-Use: Beverages, Food, Chemicals, Personal Care, Pharmaceuticals

The introduction of new products has emerged as a key trend in packaging machinery. The demand for more packaged products is increasing in various fields, such as the food and beverage industry, resulting in more efficient and productive packaging machinery. Therefore, companies are launching newly enhanced products to meet the demand. For instance, in June 2021, Syntegon, a machine industry company, introduced a new pick-and-place platform for product handling, feeding, and loading using a strong combination of industrial competence, control, and robotics technology. With this Syntegon RPP, the firm establishes a new benchmark in packing line automation.

The packaging machinery market report table of contents includes: