PACKAGING MACHINERY MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)
The packaging machinery market is estimated to be valued at USD 58.32 Bn in 2024 and is expected to reach USD 87.43 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.9% from 2024 to 2031. Packaging machinery includes various machines and technologies used for packaging products across different industries such as food and beverages, pharmaceuticals, consumer goods, and others. Growing demand for packaged food and beverages, along with stringent government regulations regarding food safety, and quality are some of the key factors driving growth in the packaging machinery industry. Additionally, innovations in terms of material handling, automation, robotics, and digitization are further augmenting demand. However, high initial investments required for setting up packaging lines pose a challenge for manufacturers. Overall, the packaging machinery market is expected to continue its growth trajectory over the coming years.
Market Dynamics:
The global packaging machinery market growth is primarily driven by growing demand for packaged food and consumer goods across the world. Rapid urbanization, rising affordability, and changing lifestyles have fueled the demand for packaged goods. Additionally, stringent government regulations regarding food safety, quality and hygiene have compelled companies to invest heavily in advanced packaging machinery. Moreover, increasing automation and adoption of digital technologies such as IoT, big data analytics, and robotics across end-use industries are presenting lucrative opportunities for manufacturers of packaging solutions. However, high costs associated with automation technologies and initial set up of packaging lines are restricting wider adoption. Fluctuations in raw material prices also remain a key challenge. Going forward, innovations in robotics, multimodal packaging, and material handling are likely to open new avenues for growth in the market.
Key Features of the Study:
- This report provides in-depth analysis of the global packaging machinery market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global packaging machinery market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Langley Holding plc, Maillis Group, Rovema GmbH, Douglas Machine Inc., KHS Group, SIG, Tetra Laval International S.A., Krones AG, ProMach, GEA Group Aktiengesellschaf, Sacmi, Coesia S.p.A., and Duravant
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global packaging machinery market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global packaging machinery market
Market Segmentation
Market Segmentation
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