Packaging Machinery Market size was over USD 47.85 billion in 2023 and is poised to reach USD 81.69 billion by the end of 2036, growing at around 4.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of packaging machinery is assessed at USD 49.46 billion.
Machines are preferred over manual packaging as it is time saving, cost effective, and more hygienic. Moreover, machine packed products are more uniform in terms of quantity, size, and form. In addition to that, the wastage of packaging materials is minimum in machine packaging, which reduces the material cost along with reducing the labor expenses. Such features of packaging machinery are expected to boost the market growth throughout the forecast period. Furthermore, growing consumption of consumer goods and advancement in packaging technology is forecasted to further promote the market growth. Growing demand for sustainable packaging methods, to reduce single-use plastic waste is also anticipated to promote the market growth. In 2018, the United States, alone generated more than 14,500 thousand tons of plastic as municipal solid waste. Out of this, only a small amount of around 1800 thousand tons of this waste was recycled. On the other hand, in the same year, more than 40,000 thousand tons of paper and cardboard packaging waste was generated, out of which, 33,500 thousand tons waste was recycled.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
4.2% |
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Base Year Market Size (2023) |
USD 47.85 billion |
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Forecast Year Market Size (2036) |
USD 81.69 billion |
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Regional Scope |
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The global packaging machinery market is segmented on the basis of type into automatic, semi-automatic, and manual, out of which, the automatic segment is anticipated to hold a major market share during the forecast period on the back of rising inclination towards application n of computer operated machines. Automatic machines offer the benefit of uniform packaging of product, along with employing less labor force, which is likely to reduce the production cost for the major market players, which, in turn, is estimated to boost the segment growth. On the basis of end-user, the market is segmented into food & beverages, pharmaceuticals, personal care & cosmetics, and others, among which, the food & beverages segment is foreseen to garner the highest market share over the forecast period owing to the vast application for packaging machinery in the food and beverages industry. This include various forms of products, such as, powdered (spices, salt, powdered milk, and others), liquid (juice, milk, soda, soft drinks, and others), semi-solid (yoghurt, salad dressings, jam, mayonnaise, and others) and solid products (fruits and vegetables, grains, ready-to-eat food, poultry and meat, nuts, and others), which requires efficient packaging techniques, which are hard to acquire manually. This, in turn, raises the demand for packaging machinery.
Our in-depth analysis of the global packaging machinery market includes the following segments
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By Type |
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By Product Type |
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By Organization Size
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By End-User
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On the basis of regional analysis, the global packaging machinery market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.
Asia Pacific industry is likely to hold largest revenue share by 2036, driven by rising demand for packaging machineries by the major food & beverages manufacturers present in the region. Moreover, increasing government investment in the manufacturing industries in developing countries, such as, China and India, along with the availability of a large consumer base, is anticipated to drive the market growth.
North America Market Analysis
The packaging machinery market in the North America is projected to hold a significant share throughout the forecast period owing to the presence of leading market players in the region backed by the growing manufacturing sector. Moreover, the market in countries, such as, USA, and Canada are export-oriented, which magnifies the need for proper packaging of the products in order to minimize the damage that may occur during transportation. According to the World Bank, the goods and services export in the U.S. valued USD 3.068 trillion, in the year 2019. Moreover, due to lack of cheap labor in the region, consumer goods manufacturers prefer packaging machinery to reduce total production cost, which is estimated to boost the market growth.
Author Credits: Abhishek Anil
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