Market Research Future has published a cooked research report on the Global Packaging machinery market, 2022–2028. The global packaging machinery market is projected to exhibit a CAGR of 5.9% during the forecast period of 2022-2030.
Market Research Future has recognized the following companies as the key players in the global packaging machinery market: Barry-Wehmiller, Illinois Tool Works Inc, Krones AG, Bosch Packaging Technology (Syntegon Technology GmbH), GEA Group AG, Automated Packaging Systems, Graphic Packaging Holding, MULTIVAC Group, Optima, Pro Mach, Inc, and Tetra Level International (Sidel).
The global packaging machinery market is projected to be valued at USD 72,624.7 million by 2030, recording a CAGR of 5.9% during the forecast period. The global packaging machinery market is rapidly growing due to the modernization of the industry to accelerate the market growth substantially. Design-level innovation in packaging machinery is gaining significant traction in the market. However, the market's growth is hampered by high maintenance and installation cost coupled with suitability for high volume packaging limits market growth. Growing demand for packaging from the end-use industry is an opportunity to grow the global packaging machinery market.
The global packaging machinery market has been segmented based on machine type, application, end use and region.
Based on machine type the global packaging machinery market has been segmented into filling machines, wrapping machines, shrink machines, palletizing machines,form fill seal machines, cartooning machines, labelling machines, bottling machines and others . The others segment accounted for the largest market share of 21.2% in 2021. The others segment includes closing machine, washing machine, case handling, and inspection machines. Inspection machines include manual, mechanical, and computerized electronic systems which inspect products, packages, or packaging components to ensure that they conform to specifications. For example, color, size, mass, the presence of foreign bodies in a product or package, pack integrity, missing labels, and items. Any items which fall outside the pre-set values are rejected. Packaging machines that seal or close filled packages are known as closing machines. The machine used for washing bottles and other industrial products is called a washing machine. Case handling machinery helps protect items through distribution, storage, sale, and usage of products. The packaging machinery market is driven by the need to automate production and remove time-consuming manual tasks.
Based on application, the global packaging machinery market has been segmented into primary packaging, secondary packaging and end of line packaging. The primary packaging segment accounted for a larger market share of 41.8% in 2021. Primary packaging is mostly referred to as consumer packaging, or retail packaging, this type of packaging is in direct contact with the consumer product. The primary packaging is used to increase the product's shelf life and inform the end user of its uses and other valid details. There are various types of primary packaging used in different industries. The type of packaging depends on the company's product. There are multiple functional purposes of primary packaging, the packaging defense against contaminants and harmful elements that may damage the product. There are various examples of primary packaging, such as metal cans and plastic bottles that hold soft drinks, shrink wrap that covers meats and vegetables at the grocery store, and blister packs containing medications.
Based on end use, the global packaging machinery market has been segmented into food, beverage, pharmaceuticals, personal care, chemical and others. The food segment accounted for a larger market share of 34.5% in 2021. Packaging machinery is substantially used in the food industry to package, store, and ship a range of items such as meat, seafood, bakery, confectionery, ready-to-eat meals, fruits and vegetables, dairy products, and others. Packaging is the best way to safely control and protect food against physical, chemical, biological, and environmental factors. Regarding demand and usage of packaging machinery, the food segment is one of the leading industries. The increasing consumption of pre-packaged food among the younger generation is one of the major factors driving the market growth. Labeling machines, filler machines, and cartoning machines are a few machines widely used in the food industry. Packaging machinery is widely used to maintain freshness, extend the shelf life, and reduce spoilage and wastage of products used in the food industry.
On the basis of region, the packaging machinery market has been categorized as North America, South America, Europe, Asia-Pacific and Middle East and Africa. As per MRFR analysis, Asia-Pacific accounted market share of 33.3% of the global packaging machinery market in terms of value in 2021 growing at a CAGR of 6.9% during the forecast period. The Asia-Pacific packaging machinery market region includes India, China, Japan, South Korea, Thailand, Indonesia and others. These countries have set several regulations to monitor the quality and safety of packaging. The advent of the highly competitive e-commerce sector is driving the demand for innovative packaging solutions to meet customers growing demand for sophisticated packaging machinery products. Additionally, with the recent surge in demand for consumer products, efficient and reliable packaging solutions are in urgent demand. Packaging machinery provides high-speed and high-performance packaging solutions designed to develop a variety of packaging in different sizes, shapes, and materials according to product requirements. Moreover, in this region, outlets such as supermarkets, convenience stores, and supercenters are rapidly expanding in the current retail environment, opening up new opportunities and fueling the growth of the packaging machinery market.Europe dominates the packaging machinery market with a market share of 30.7% with a CAGR of 5.3% during the forecast period 2022-2030. In Europe, the increase in the production of medicinal and personal care items has raised the need to manufacture packaging machinery for the protection of material from further spoilage. Moreover, higher operability, flexibility, and increased output rate are some of the attributes driving the packaging machinery market in Europe. The growing sectors in the countries of Europe raise the need for packaging products with good quality material, which further leads to an increased demand for packaging machinery solutions. A diversified product portfolio is offered by companies such as Reynolds Group Holdings, Graphic Packaging Holding, and Nordson Corporation. These players develop attractive packaging machinery that provides safe handling during transportation and maintains the superior quality of packaged items, leading to an increase in demand for packaging machinery. North America holds a market share of 21.8% of the global packaging machinery market in 2021, growing at a CAGR of 4.8% during the forecast period. North America is one of the prominent regional markets for packaging machinery. The growth in this region is augmented by factors like the growing culture of e-commerce and packaging in the food industry of North America. Additionally, companies in this region are now adopting advanced machinery, which is coupled with the rise in the need for supply chain integration. This is driving the manufacturers towards packaging automation solutions because of their ability to interact with the stakeholders and the optimization of complicated logistics schedules. A successful track record of developing new products by companies such as Barry-Wehmiller, Krones AG, Bosch Packaging Technology, and Dover Corporation is driving the growth of the packaging machinery market in North America. Middle East & Africa holds a market share of 7.9% of the global packaging machinery market in 2021, growing at a CAGR of 6.5% during the forecast period. The opportunities for packaging machinery companies in developing regions like the Middle East & Africa are impressive. The growth of the packaging machinery market in the Middle East & Africa is attributed to the inclination towards case-ready packaging products, the rising need for packaging machinery for longer shelf-life, growing consumer concerns for food wastage reduction, and growing demand from the meat industry. The region packaging machinery industry is rapidly shifting towards advanced technology to develop innovative solutions for future-ready packaging and advanced processing, manufacturing, and supply chain models. Various companies are also concentrating on expanding their business across the regions and improving their product portfolio.South America holds a market share of 6.3% of the global packaging machinery market in 2021, growing at a CAGR of 6.0% during the forecast period. The South America packaging machinery market is derived from some key factors: increasing demand for efficient packaging in the beverage and chemical sector, changing lifestyles among the working population, rising demand for convenient packaging solutions, and others. Moreover, an increase in economic growth and inclining personal disposable incomes are expected to intensify the market growth of the packaging machinery market in this region. The South America region includes emerging economies such as Brazil, Argentina, Bolivia, and Peru. Additionally, Brazil, Mexico, and Argentina are the main drivers for the region, equipped with packaging machinery such as filling machines, labeling machines, palletizing machines, and others. Various food, pharmaceutical, personal care, beverage, and even warehouse businesses increasingly use these packaging machinery to optimize business processes and reduce operating costs. Growth in the transport industry, technological advancements, rapid development & urbanization in these emerging economies will drive the packaging machinery market in the year to come. Furthermore, the pharmaceutical sector is a key player in the packaging machinery market. Mexico and Brazil are the largest pharmaceutical producers in Latin America. Thus, favorable capital investment projects and the growing pharmaceutical sector will further boost the packaging machinery market in the target region.
Key Findings of the Study: