The growth of the global packaging machinery market is driven by surge in usage of automation for packaging consumer goods, the development of innovative and energy-efficient packaging machinery, and rise in consumption of consumer goods. On the basis of region, Asia-Pacific dominated with the highest market share in terms of revenue in 2020.
Wilmington, Delaware, Nov. 10, 2023 (GLOBE NEWSWIRE) — As per the report published by Allied Market Research, the global packaging machinery market garnered $43.52 billion in 2020, and is projected to hit $69.21 billion by 2030, registering a CAGR of 4.7% from 2021 to 2030. The report offers a comprehensive study focusing on factors including top segments, value chain, changing market trends, key investment pockets, regional scenario, and competitive landscape.
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The growth of the global packaging machinery market is driven by surge in usage of automation for packaging consumer goods, the development of innovative and energy-efficient packaging machinery, and rise in consumption of consumer goods. In addition, the growth in the e-commerce and retail industry creates lucrative opportunities in the coming years. However, strict government regulations and Eurozone economic uncertainty hamper the market growth.
The report provides a detailed segmentation of the global packaging machinery market based on business, type, end user, and region.
Report Coverage & Details:
|Forecast Period||2020 – 2030|
|Market Size in 2020||$43,520.0 million|
|Market Size in 2032||$69,218.0 million|
|No. of Pages in Report||325|
|Segments Covered||Product Type, Technology, End User, and Region|
|Drivers||rise in demand for packaged food & beverages fuels the packaging machinery market growth.|
|Increase in urbanization and e-retailing further drive the market for packaging machinery.|
|End User||Food & Beverages Pharmaceuticals Chemicals Cosmetics|
On the basis of type, the filling machines segment held the highest market share in 2020, accounting for nearly two-fifths of the total share, and is projected to dominate during the forecast period. However, the cleaning and sterilizing machines segment is expected to show the fastest CAGR of 6.7% from 2021 to 2030.
On the basis of end user, the food and beverages segment contributed to the highest share in 2020, accounting for nearly two-thirds of the global packaging machinery market, and is expected to continue its leadership status during the forecast period. Moreover, the same segment is anticipated to grow at the largest CAGR of 5.1% from 2021 to 2030.
On the basis of region, Asia-Pacific dominated with the highest market share in terms of revenue in 2020, accounting for more than one-third of the total market share, and is expected to continue its dominant share by 2030. Moreover, the same region is projected to witness the highest CAGR of 5.3% during the forecast period.
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Leading players of the global packaging machinery market analyzed in the research include B&H Manufacturing Company, Inc., Coesia S.p.A., Langley Holdings plc, Aetna Group S.p.A., Barry-Wehmiller Companies, Inc., CKD Corporation, Fuji Machinery Co., Ltd., Duravant LLC, Robert Bosch GmbH, and The Adelphi Group of Companies.
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