The North America packaging machinery market is predicted to grow at a moderate rate of 3.65%. The Asia Pacific region will continue to dominate the global packaging machinery market with an overall share that was valued at $23.8 billion in 2022
NEWARK, Del, July 14, 2022 (GLOBE NEWSWIRE) -- The global packaging machinery market is set to witness an impressive growth rate of 4.5% over the forecasted years of 2022 to 2032. The packaging machinery market size is anticipated to reach a valuation of around US$ 88.25 Billion by the end of year 2032 from the current valuation of US$ 56.87 Billion in 2022.
The expanding conventional food & beverages intake, shifting consumer preferences toward organic and functional drinks, and a rise in the diversity of snacks and packaged products are all expected to have a positive impact on the sales of packaging machinery in the coming years. During the upcoming years, packaging machinery market expansion is predicted to be aided by expanding personal hygiene and health awareness along with steadily increasing expenditure on pharmaceutical products.
The need for highly complex packaging equipment for pharmaceutical items is expected to be increasing in the coming days, thus favoring the packaging machinery market opportunities in the future.
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Key Takeaways from Market Study
The overall growth of the global packaging machinery market is estimated to be around US$ 31.38 Billion over the forecast decade covering the years 2022 to 2032, by following the average CAGR of 4.5%.
The filling and dosing packaging machinery type is the highest selling product segment contributing for more than 16% of the revenue share.
The form, fill and seal product segment is the most secretive product segment owing to getting increasingly adopted by the pharmaceutical industries.
The food &beverages segment is the largest end user segment of the global packaging machinery market that is worth about US$ 48 billion in the year 2022.
The pharmaceutical and healthcare end use segment is anticipated to experience the highest growth rate during the projection period at around 4.8%.
Asia Pacific is the dominant region for the global packaging machinery market with an overall share of more than 45% that was valued at US$ 23.8 Billion in the year 2022.
The North America packaging machinery market is predicted to grow at a moderate rate of 3.65% as the market is mostly saturated owing to very early adoption of the product by the end use verticals.
Some of the well-known packaging machinery market players are KHS Group, SIG Combibloc Group Ltd., Tetra Laval International S.A., Krones AG, I.M.A. Industrial Macchine, Automatiche S.p.A., Syntegon Technology GmbH, ProMach, GEA Group Aktiengesellschaft, Sacmi, Bradman Lake Ltd., ROVEMA GmbH, Douglas Machine Inc., Coesia S.p.A, Maillis Group, and Duravant, among others.
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Recent Developments in the Global Packaging Machinery Market:
At Pack Expo 2019 in Las Vegas in August 2019, Syntegon Technology GmbH unveiled the Pack 403, a fully automated horizontal flow wrapper. a Paloma pick-and-place robot was used in its construction for its application in difficult environments,
Similar to this, Robopac Ibérica, an Aetna group S.p.A. Company, has constructed a facility in Vinaros (Castellón) for the purpose of providing commercial and technical assistance operations for the important markets in Europe
Packaging Machinery Market by Segmentation
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2.2. Market Definition / Scope / Limitations
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.4. Product Life Cycle Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.8. PESTLE and Porter’s Analysis
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Global Packaging Machinery Market Analysis 2017-2021 and Forecast, 2022-2032
4.1. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis, 2017-2021
4.2. Current and Future Market Size Value (US$ Mn) & Volume (Units) Projections, 2022-2032
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
Have a Look at Related Research Reports of Packaging Market Insights Landscape
FMCG Packaging Market: The global FMCG packaging market is expected to reach US$ 418.8 Bn in 2022, with sales growing at a CAGR of 5.7% through 2032.
Beverage Packaging Market: The global beverage packaging market is estimated at USD 104.8 Bn in 2022 and is projected to reach USD 128.2 Bn by 2027, at a CAGR of 4.1% from 2022 to 2027.
Flexible Packaging Paper Market: The flexible packaging paper market is on track to grow at an estimated CAGR of 4% during 2022-2032.
Biodegradable Packaging Market: A mounting number of manufacturers in the packaging industry are making a move towards the use of unique biodegradable materials in their packaging solutions.
Cast Stretch Films Market: The cast stretch films market is projected to register a CAGR of 4.7% during the forecast period, up from US$ 2.45 Bn in 2021 to reach a valuation of US$ 4 Bn by 2032.
Specimen Transport Bags Market Trend: The specimen transport bags market is expected to record a CAGR of 9.8% during the forecast period 2022-2032, up from US$ 244.7 Million in the year 2022 to reach a valuation of US$ 623.24 Million by 2032.
Plastic Sterilization Trays Market Analysis: The plastic sterilization trays market is likely to record a strong CAGR of 7.7% during the forecast period. The plastic sterilization trays market is currently valued at US$ 14.86 Bn in 2022 and is likely to reach US$ 31.20 Bn by 2032.
Sterilization Box Market Growth: The sterilization box market is likely to record a CAGR of 7.5% during the forecast period, up from US$ 14.84 Bn in 2022 to reach a valuation of US$ 30.58 Bn by 2032.
Corrugated Open-head Drums Market Forecast: The corrugated open head drums market is likely to record a strong CAGR of 8% during the forecast period. The corrugated open head drums market is currently valued at US$ 12 Bn in 2022 and is likely to reach US$ 28 Bn by 2032.
Commercial Paper Bags Market Volume: The global commercial paper bags market size is likely to reach US$ 11.2 Billion in 2032 and exhibit growth at a CAGR of 7.5% in the forecast period from 2022 to 2032.
Download complimentary copy of Future Market Insights White Paper on Intelligent Packaging for Circular Economy published in collaboration with Graham Packaging and Avery Dennison
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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