Packaging Machinery Market Share

APAC Market Statistics

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.