Global Packaging Machinery Market to Surpass 60.98 Billion by 2030 Driven by Increasing Demand for Packaged Foods and Beverages
SkyQuest projects that the global packaging machinery market will attain a value of USD 60.98 billion by 2030, with a CAGR of 4.5% during the forecast period (2023-2030). The global packaging machinery market is growing remarkably, driven by several influential factors. Among these, a primary driver is the burgeoning demand for packaged foods and beverages, reflecting changing consumer lifestyles and preferences for convenience.
Westford, USA, Jan. 15, 2024 (GLOBE NEWSWIRE) — According to SkyQuest, the increasing presence of millennial and Gen-Z consumers is anticipated to be a significant catalyst for the growing demand for convenience products. These younger generations, known for their fast-paced lifestyles and affinity for digital technology, prioritize products that offer convenience and efficiency in the global packaging machinery market.
Browse in-depth TOC on the “Packaging Machinery Market”
- Pages – 157
- Tables – 63
- Figures – 75
There is a noticeable uptick in consumer expenditurespending on pharmaceuticals and personal care products, fueled by a growing global population and increasing health consciousness in the global packaging machinery market.
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Prominent Players in Global Packaging Machinery Market
- Bosch Packaging Technology
- Tetra Pak International S.A.
- IMA Group
- Krones AG
- ProMach
- Marchesini Group S.p.A.
- Barry-Wehmiller Companies
- Ishida Co., Ltd.
- Coesia S.p.A.
- Multivac Group
- Robert Bosch GmbH
- Sidel Group
- Shibuya Corporation
- Duravant LLC
- KHS GmbH
- Uhlmann Pac-Systeme GmbH & Co. KG
- Arpac LLC
- Mespack SL
Filling Machines Segment to Dominate Market due to Rising Need for Filling Equipment
Filling machines category stands out as the dominant force in the global packaging machinery market and is expected to maintain its position with the largest market share throughout the forecast period. This prominence is attributed to two key factors driving the expansion of this market segment. The continued demand for packaged foods and beverages across the globe necessitates efficient and precise filling equipment to ensure product quality and consistency.
The market in North America has asserted its dominance in the global packaging machinery market for several compelling reasons. The region boasts a well-established and highly advanced packaging industry underpinned by major industry players and a rich history of technological advancements.
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Labeling and Coding Machines Segment is Expected to Witness Significant Growth due to Increasing Demand for these Machines
Labeling and coding machines segment is emerging as the fastest-growing category within the global packaging machinery market. This remarkable growth is fueled by the rising demand for these machines across diverse end-user industries, such as including food and beverage, pharmaceuticals, personal care, and cosmetics.
Regional market in Asia-Pacific has emerged as the fastest-growing global packaging machinery market globally. Rapid industrialization and urbanization in numerous countries across the region have substantially increased manufacturing activities and the establishment of modern production facilities.
A comprehensive analysis of the major players in the global packaging machinery market has been recently conducted in this report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
Key Developments in Global Packaging Machinery Market
- In 2023, the renowned German packaging machinery manufacturer Krones made a significant stride in the packaging industry by introducing an innovative range of filling and labeling machines explicitly tailored for the beverage industry. This launch represents Krones’ commitment to staying at the forefront of technological advancements, offering enhanced solutions that cater to the evolving needs of the beverage sector, which demands precision and efficiency in packaging processes.
- In 2023, the Japanese packaging machinery manufacturer Ishida forged a strategic partnership with the Dutch company Solidus Solutions to jointly develop sustainable packaging solutions for the food industry. This collaboration underscores the industry’s growing emphasis on sustainability and eco-friendly packaging materials.
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Key Questions Answered in the Global Packaging Machinery Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
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