The global packaging machinery market size was valued at USD 42.8 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.1% from 2021 to 2028. The increasing demand for packaged food and beverages, coupled with the flourishing e-commerce industry, is expected to drive the demand for packaging machinery. The rising awareness regarding personal health and hygiene, coupled with the increased spending on pharmaceutical products, is anticipated to favor the market growth over the coming years.
The market for packaging machinery is customer-oriented and driven by the increased demand for a variety of products in different types and sizes of packages. Manufacturers in the end-use industries are adopting modular packaging machines that offer flexibility and quickly adapt to the changing packaging formats, along with complete packaging lines that incorporate multiple functions, such as filling, labeling, and closing from a single source.
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The U.S. economy was severely hit due to the COVID-19 pandemic in 2020, thereby negatively impacting the growth of various industries, such as chemicals, petrochemicals, oil and gas, and automobile. However, surging demand for hand sanitizers, pharmaceutical & medical products, and packaged food and beverage products in the country during the pandemic period augmented the demand for packaging machinery.
Key Player Mentioned:
- KHS Group
- SIG Combibloc Group Ltd.
- Tetra Laval International S.A.
- Krones AG
- M.A. Industria Macchine Automatiche S.p.A.
- Syntegon Technology GmbH
- ProMach
- GEA Group Aktiengesellschaft
- Sacmi
- Bradman Lake Ltd.
- ROVEMA GmbH
Product Segment Analysis:
- Filling
- Labeling
- Form-Fill-Seal
- Cartoning
- Wrapping
- Palletizing
- Bottling Line
Regional Segment Analysis: North America, Europe, Asia Pacific, Latin America, and Mideast and Africa.
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Automation within the packaging equipment offers various benefits, such as increased operability and flexibility of the equipment, coupled with a higher throughput rate. In line with the automation trend, the use of robotics offers many benefits, including a high throughput rate, better precision, consistency, and minimal scrap/waste. Thus, the incorporation of robotics has increased over the past decade and is expanding in various end-of-line processes, such as wrapping and palletizing.
Sustainability and rising environmental concerns have increased the demand for lightweight and thin-walled packaging to reduce the amount of material used for packaging. Thus, to facilitate these requirements, equipment manufacturers focus on the development of machines with improved functionality to maximize production speeds while accommodating more fragile and thinner packaging materials.
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