Global Packaging Machinery Market to experience an Upward Trend with the Adoption of Advanced Packaging Solutions, Future Market Insights, Inc.
Future Market Insights Global and Consulting Pvt. Ltd.
7 min read
Future Market Insights Global and Consulting Pvt. Ltd.
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.
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.
Competitive Landscape
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.
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
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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.
