Packaging Machinery Global Market Report 2023: Sector to Reach $54.43 Billion by 2027 at a CAGR of 5.7% - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Packaging Machinery Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.

The global packaging machinery market grew from $41.23 billion in 2022 to $43.54 billion in 2023 at a compound annual growth rate (CAGR) of 5.6%. The packaging machinery market is expected to grow to $54.43 billion in 2027 at a CAGR of 5.7%.

Asia-Pacific was the largest region in the packaging machinery market in 2022. The regions covered in the packaging machinery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The increasing demand for packaged food and beverages is expected to propel the growth of the packaging machinery market going forward. The changing lifestyles of consumers have led to high demand for processed and convenience food and beverage products. In emerging countries, the expanding working population has a greater need for processed foods and higher consumption of convenience foods.

Also, due to COVID-19, eating preferences, consumers' attitudes, behaviors, and purchasing habits have changed, leading to the adoption of packaged food and beverages.

For instance, in July 2021, according to Bizom data, an end-to-end CPG sales and distribution analytics platform showed the demand for packaged food sales grew by 95% year on year, led by ready-to-eat products and soaring out-of-home consumption. Therefore, the increasing demand for packaged food and beverages is driving the growth of the packaging machinery market.

The introduction of new products has emerged as a key trend in packaging machinery. The demand for more packaged products is increasing in various fields, such as the food and beverage industry, resulting in more efficient and productive packaging machinery. Therefore, companies are launching newly enhanced products to meet the demand. For instance, in June 2021, Syntegon, a machine industry company, introduced a new pick-and-place platform for product handling, feeding, and loading using a strong combination of industrial competence, control, and robotics technology. With this Syntegon RPP, the firm establishes a new benchmark in packing line automation.

In June 2022, ProMach, a US-based packaging machinery company announced the acquisition of Reepack, for an undisclosed amount. Through this deal, ProMach aims to expand its portfolio in the food packaging space and further strengthen its position as a supplier of protein-packaging automation. Reepack is an Italy-based company operating in manufacturing packaging machinery and provides a range of technologies, including thermoformers, vacuum chambers, flow wrappers and tray sealers, for medical and food products, in addition to consumer goods and industrial components.

The countries covered in the packaging machinery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
• Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
• Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
• Measure the impact of high global inflation on market growth.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market shares.
• Benchmark performance against key competitors.
• Suitable for supporting your internal and external presentations with reliable high quality data and analysis

Scope

Markets Covered:

1) By Machine Type: Filling; Labeling; Form-Fill-Seal; Cartoning; Wrapping; Palletizing; Bottling Line

2) By Technology: General Packaging; Modified Atmosphere Packaging; Vacuum Packaging

3) By Business: OEM; Aftermarket

4) By End-Use: Beverages; Food; Chemicals; Personal Care; Pharmaceuticals

Key Topics Covered:

1. Executive Summary

2. Packaging Machinery Market Characteristics

3. Packaging Machinery Market Trends And Strategies

4. Packaging Machinery Market - Macro Economic Scenario

5. Packaging Machinery Market Size And Growth

6. Packaging Machinery Market Segmentation

7. Packaging Machinery Market Regional And Country Analysis

A selection of companies mentioned in this report includes

• Aetna Group S.p.A.
• B&H Manufacturing Company Inc.
• Barry-Wehmiller Companies Inc.
• CKD Corporation
• Coesia S.p.A.

For more information about this report visit https://www.researchandmarkets.com/r/7dy5n5

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