Packaging Machinery Market Outlook and Forecast Report, 2030 |...

Packaging Machinery Market Outlook and Forecast Report, 2030

Postado 2024-10-03 10:41:32

The global packaging machinery market size was estimated at USD 44.17 billion in 2021 and is anticipated to grow at a compound annual growth rate (CAGR) of 4.6% from 2022 to 2030.

The key factors propelling the industry growth include the high demand for packaged foods & beverages and rising consumer spending on pharmaceuticals & personal care products. The COVID-19 pandemic had a significant impact on the global industry. The high number of COVID-19 cases across the globe affected consumer shopping at retail shops and convenience stores. Also, disruption of the supply chain and lack of availability of the workforce negatively impacted the industry growth. However, over the forecast period, the industry is expected to recover swiftly.

Packaged food and beverages offer convenience, ease, and time efficiency. These aspects of packaged foods and beverages are the factors encouraging consumers to spend on such products. Over the forecast period, an increasing share of millennials and Gen-Z in consumer profiles is likely to boost the demand for convenience products. Furthermore, the growth is driven by growing innovations and technology improvement. Advancements, such as automation, robots, and other technologies, are improving product penetration in various industries. Automated and semi-automated packaging machines are helping the end-user industries to scale up effectively while controlling the costs of operations.

Gather more insights about the market drivers, restrains and growth of the Packaging Machinery Market

Packaging Machinery Market Report Highlights

• The form-fill-seal segment is expected to register the fastest CAGR during the forecast period. Many businesses prefer to use FFS systems as they provide additional advantages, such as versatility and speed

• The need to store a variety of clinical products has resulted in high demand for carton machines from the healthcare sector, which is expected to generate profitable growth opportunities for this industry

• The food end-use segment held the largest revenue share in 2021 owing to the increased demand for packaged food products brought on by improving standards of lifestyle, rising disposable income, and a growing middle-class population

• Asia Pacific is estimated to be the largest as well as the fastest-growing regional market due to the rising need for highly integrated & automated equipment and favorable packaging & labeling laws in the region

• In September 2020, Krones AG, in partnership with Innocent (Fresh Trading Ltd.), built a new CO2-neutral bottling plant in the Port of Rotterdam. Innocent has invested around USD 250 million in the bottling plant

Browse through Grand View Research's Food Safety & Processing Industry Research Reports.

• The global beverage cans market size was estimated at USD 41.14 billion in 2023 and is expected to expand at a CAGR of 5.5% from 2024 to 2030.

• The global beverage packaging market size was estimated at USD 157.73 billion in 2023 and is expected to grow at a CAGR of 5.0% from 2024 to 2030.