DUBLIN, October 28, 2021--(BUSINESS WIRE)--The "Packaging Machinery Market Size, Share & Trends Analysis Report By Machine Type (Filling, Labeling, Form-Fill-Seal), By End-use (Food, Beverage, Pharmaceuticals), By Region, and Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The global packaging machinery market size is expected to reach USD 59.24 billion by 2028 and is expected to expand at a CAGR of 4.1% from 2021 to 2028.
The rising demand for packaged food and beverages, coupled with the growing pharmaceutical and personal care industries, is expected to drive the demand for packaging machinery over the forecast period.
The growing popularity of single-serve bag sizes and smaller portions has increased the demand for high-speed and efficient packaging machines. Moreover, with the consumer-driven demand for a wide range of products in different packaging sizes and shapes, there is an increasing demand for flexible packaging machines that can adapt to different products and pack styles.
Consumers and retailers are increasingly demanding sustainable packaging styles resulting in the machine manufacturers requiring to work closely with material suppliers to test new materials and make necessary modifications to the machine. Moreover, with the rapid developments in retail packaging formats, the demand for faster and more flexible machines has increased.
The market is expected to witness growth in the years to come on account of the rising demand for personal care and medical products, such as hand sanitizers, soaps, face masks, and gloves, despite the supply chain disruptions caused due to the COVID-19 pandemic. In addition, lockdowns and movement restrictions have further increased the demand for packaged food.
Packaging Machinery Market Report Highlights
By machine type, the form-fill-seal segment is anticipated to expand at the fastest CAGR of 5.2% over the forecast period on account of the increasing popularity of flexible packaging, coupled with the rising demand for single-serve and small portion packs.
The food end-use segment accounted for the largest share of over 35.0% in 2020 owing to the increasing demand for packaged food products attributed to the changing lifestyles, increasing disposable income, and the growing middle-class population.
The North American market is likely to expand at a CAGR of 3.2% from 2021 to 2028 due to the increasing demand for highly automated and integrated machines, coupled with the favorable packaging and labeling regulations in the region.
The market in China is anticipated to expand at a CAGR of 5.3% over the forecast period owing to the growing focus on improving productivity, coupled with the favorable government policies focusing on technology and machinery upgrades.
In June 2020, Hugo Beck Maschinen bau GmbH & Co. KG. launched two machines, namely PB 800 E-Com and flexo 700 E-Com, which are explicitly designed to cater to the demand for e-commerce packaging.
SIG Combibloc Group Ltd.
Tetra Laval International S.A.
I.M.A. Industria Macchine Automatiche S.p.A.
Syntegon Technology GmbH
GEA Group Aktiengesellschaft
Bradman Lake Ltd.
Douglas Machine Inc.
For more information about this report visit https://www.researchandmarkets.com/r/panj5m
View source version on businesswire.com: https://www.businesswire.com/news/home/20211028005975/en/
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