Press release
Packaging Equipment Global Market 2024 - Industry Analysis, Future Trends, Segmentation, and Key Players
Packaging Equipment Global Market
The packaging equipment market size is expected to see strong growth in the next few years. It will grow to $60.73 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to cost-efficiency and performance, healthcare and pharmaceutical growth, rise of smart packaging, rapid urbanization, food safety and hygiene, customization and flexibility.. Major trends in the forecast period include automation and industry 4.0 integration, sustainability initiatives, customization and flexibility, smart packaging technologies, consumer safety and hygiene standards..
Market Overview -
Packaging equipment offers producers and packers effective ways to package and safeguard goods for sale and transportation. Machines that are correctly calibrated and supported can reduce the number of packaging materials used and increase packing speeds.
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Rising Demand For Versatile And Integrated Packaging Machinery Drives Packaging Equipment Market
The growing need for flexible and integrated packaging machinery is expected to propel the growth of the packaging equipment market going forward. Flexible and integrated packaging machinery refers to equipment that processes a film to produce filled bags, sticks, pouches, and others. It is a coordinated system of preparing goods for safe, economical, and efficient movement throughout the entire supply chain, ultimately leading to the maximization of consumer value, sales, and consequently profits, thus, also creating significant demand for packaging equipment. For instance, in October 2022, according to a report published by The Association for Packaging and Processing Technologies (PMMI), a US-based packaging industry association, there was an 11.2% increase in domestic shipments of packaging machinery, resulting in a total category value of $10.5 billion. Converting machinery also experienced growth in the preceding year, with a 9.5% rise in domestic shipments, reaching $1.1 billion. Therefore, the growing need for flexible and integrated packaging machinery is driving the growth of the packaging equipment market.
Competitive Landscape -
Major companies operating in the packaging equipment market report are Barry-Wehmiller Companies Inc., Coesia S.p.A., Krones AG, Robert Bosch Packaging Technology GmbH, Douglas Machine Inc., Dover Corporation, Illinois Tool Works Inc., Amcor plc, Bemis Company Inc., GEA Group AG, Graphic Packaging Holding Company, Duravant LLC, Sacmi Imola S.C., Marchesini Group S.p.A., Garvey Corporation, Accutek Packaging Equipment Companies Inc., Adelphi Group Ltd., Arpac LLC, Oystar Holding GmbH, Berhalter AG, Multivac Inc., Nichrome India Ltd., Cougar Packaging Solutions Inc., Duravant LLC, Fuji Machinery Co. Ltd., Omori Machinery Co. Ltd., Harland Machine Systems Ltd., IMA S.p.A., Ishida Co. Ltd., KHS GmbH, Kyana Packaging & Industrial Supply Inc., Practical Packaging Solutions, R.A Jones & Co. Inc. .
Technologies Drive Advancements In The Packaging Equipment Market
Technological advancements are a key trend gaining popularity in the packaging equipment market. Major players are concentrating their efforts on creating innovative technologies to sustain their position in the packaging equipment market. For instance, in 2022, Viking Masek Packaging Technologies, a US-based manufacturer of high-performance automated packaging systems, launched the 4SC-235, a new automated pouch packaging machine developed with small businesses in mind. Viking Masek has helped an entirely new client market with the invention of the 4SC-235 prefabricated pouch machine. It also provides existing brand-loyal customers with a small, highly productive, premade pouch packaging solution.
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Key Segments -
The packaging equipment market covered in this report is segmented -
1) By Product: Fillers, Form Fill Seal, Lapping, Labelling, Coding, Bottling line
2) By Technology: General Packaging, Modified Atmosphere Packaging, Vacuum Packaging
3) By Application: Food & Beverage, Pharmaceuticals, Chemicals, Personal Care
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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