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Packaging Equipment Global Market Report 2023: Growing Need for Flexible and Integrated Packaging Machinery Fuels the Sector
Global Packaging Equipment Market
Dublin, May 23, 2023 (GLOBE NEWSWIRE) -- The "Packaging Equipment Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the market.
The global packaging equipment market is expected to grow from $39.93 billion in 2022 to $42.18 billion in 2023 at a compound annual growth rate (CAGR) of 5.6%. The packaging equipment market is expected to grow to $52.74 billion in 2027 at a CAGR of 5.7%.
Major players in the packaging equipment market are Barry Whemiller, Coesia S.p.A., Krones AG, Bosch Packaging Technology, Douglas Machine Inc., Dover Corporation, Illinois Tool Works, Amcor Plc., Bemis Company, GEA Group, Graphic Packaging Holding, Duravant LLC, Sacmi, Marchesini Group, and Garvey Corporation.
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Packaging equipment offers producers and packers effective ways to package and safeguard goods for sale and transportation. Machines that are correctly calibrated and supported can reduce the number of packaging materials used and increase packing speeds.
The main products of package equipment are fillers, form fill seals, lapping, labeling, coding, and bottling line. A filler is a chemical used to patch up gaps or fractures, particularly in wood, vehicle bodywork, and walls. The technologies included are general packaging, modified atmosphere packaging, and vacuum packaging used for various applications including food & beverage, pharmaceuticals, chemicals, and personal care.
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.
In July 2022, The Middleby Corporation, a US-based company that manufactures cooking, beverage, and refrigeration equipment for restaurants, retail customers, and residential consumers, acquired CP Packaging for an undisclosed amount. This acquisition greatly strengthens the packaging equipment options in CP Packaging's food processing portfolio while enhancing Middleby's ability to provide customers with integrated full-line solutions. CP Packaging is a US-based company that manufactures advanced high-speed vacuum packaging equipment.
Asia-Pacific was the largest region in the packaging equipment market in 2022. The regions covered in the packaging equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the packaging equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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, Yifeng Packaging Material Limited, a China-based packaging industry company reported that in 2021, there are more than 1,300 varieties of packaging machinery in China. In terms of manufacturing capacity, China had produced 263,400 pieces of special packaging equipment by 2020, an increase of 25.2% from the previous year. Therefore, the growing need for flexible and integrated packaging machinery is driving the growth of the packaging equipment market.
The packaging equipment market consists of sales of accumulating and collating machines, bottle caps equipment, sealing machines, and over-capping, lidding, closing, seaming and sealing machines. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Key Attributes:
Report Attribute | Details |
No. of Pages | 250 |
Forecast Period | 2023 - 2027 |
Estimated Market Value (USD) in 2023 | $42.18 billion |
Forecasted Market Value (USD) by 2027 | $52.74 billion |
Compound Annual Growth Rate | 5.7% |
Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Packaging Equipment Market Characteristics
3. Packaging Equipment Market Trends And Strategies
4. Packaging Equipment Market - Macro Economic Scenario
4.1. COVID-19 Impact On Packaging Equipment Market
4.2. Ukraine-Russia War Impact On Packaging Equipment Market
4.3. Impact Of High Inflation On Packaging Equipment Market
5. Packaging Equipment Market Size And Growth
5.1. Global Packaging Equipment Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Packaging Equipment Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Packaging Equipment Market Segmentation
6.1. Global Packaging Equipment Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Fillers
Form Fill Seal
Lapping
Labelling
Coding
Bottling Line
6.2. Global Packaging Equipment Market, Segmentation By Technology, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
General Packaging
Modified Atmosphere Packaging
Vacuum Packaging
6.3. Global Packaging Equipment Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Food And Beverage
Pharmaceuticals
Chemicals
Personal Care
7. Packaging Equipment Market Regional And Country Analysis
7.1. Global Packaging Equipment Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Packaging Equipment Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/ouqr3q
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