Packaging machinery market to reach USD 69.21 Bn, registering a CAGR of 4.7%

global packaging machinery market generated $43.52 billion in 2020, and is estimated to reach $69.21 billion by 2030, witnessing a CAGR of 4.7% from 2021 to 2030. The report provides a detailed analysis of changing market trends, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.

Development of innovative and energy-efficient packaging machinery, surge in usage of automation for packaging consumer goods, and increase in consumption of consumer goods drive the growth of the global packaging machinery market. However, Eurozone economic uncertainty and strict government regulations hinder the market growth. On the other hand, the growth in the e-commerce and retail industry presents new opportunities in the coming years.

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Covid-19 Scenario:

Owing to lockdown measures taken place in the countries, there has been a delay in the production of packaging machinery. Moreover, supply chain disruptions and raw material shortages are other factors that led to a decline in production volumes.

The demand from end-users such as cosmetics, chemicals, and food & beverages decreased due to disruptions in daily activities. However, the demand is expected to recover during the post-lockdown.

However, the demand from the pharmaceutical sector increased during the Covid-19 pandemic to serve the sudden rise in demand for pharmaceuticals.

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The report offers detailed segmentation of the global packaging machinery market based on type, business, end user, and region.

Based on type, the filling machines segment accounted for the largest share in 2020, contributing to nearly two-fifths of the total share, and is expected to maintain its lead position during the forecast period. However, the cleaning and sterilizing machines segment is projected to portray the fastest CAGR of 6.7% from 2021 to 2030.

Based on end user, the food and beverages segment held the highest share in 2020, accounting for nearly two-thirds of the global packaging machinery market, and is projected to continue its leadership status during the forecast period. Moreover, this segment is estimated to register the largest CAGR of 5.1% from 2021 to 2030.

Based on region, Asia-Pacific contributed to the highest share in terms of revenue in 2020, holding more than one-third of the total market share, and is projected to continue its dominant share by 2030. Moreover, this region is estimated to manifest the highest CAGR of 5.3% during the forecast period. The research also analyzes regions including North America, Europe, and LAMEA.

Leading Players:

Leading players of the global packaging machinery market analyzed in the research include Aetna Group S.p.A., Barry-Wehmiller Companies, Inc., B&H Manufacturing Company, Inc., Coesia S.p.A., CKD Corporation, Fuji Machinery Co., Ltd., Duravant LLC, Robert Bosch GmbH, Langley Holdings plc, and The Adelphi Group of Companies.

For More Information: https://finance.yahoo.com/news/global-packaging-machinery-market-reach-135800899.html

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