Market Highlights

The global packaging equipment market is expected to grow from USD 48.78 billion in 2023 to USD 75.29 billion by 2033 at a CAGR of 4.44%.

Packaging Equipment Market CAGR

2023-2033

CAGR OF

4.44%

Packaging Equipment Market

The overall market is dynamic and is likely to witness high growth in compliance with the growing trends in healthcare industries, food & beverage industries, cosmetic industries, and other consumer goods sectors. The global packaging market has broad applications such as container cleaning, filling, and forming, canning, sealing, and lidding, and many others to generate a billion-dollar opportunity for companies engaged in the packaging industry.
This market research report provides an in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the overall market. The historic years considered for the study are 2018-2021, the base year is 2022, the estimated year is 2023, and the forecast period is 2023-2033.

Packaging Equipment Market: Market Dynamics

The packaging is an essential part of a product that increases efficiency and maintains a proper workflow from one process to another thereby increasing the efficacy. Increasing awareness about the quality of the product and sustainable packaging has encouraged companies to work towards maintaining the quality of the product.
The advancement in energy-efficient packaging technology, an increase in the use of vacuum packaging, the introduction of government regulation for environment-friendly packaging is the factors driving the overall market. The rise in consumer goods demand, adoption of automated packaging machines, rise in demand for flexible packaging, and robotic packaging to fuel the market.
However, stringent government rules for safety and packaging, the oscillating price for raw materials, increased choice for revamped packaging equipment are some factors that restraint the overall market.

Packaging Equipment Market: Segmental Analysis

Packaging Equipment Market

By Machine Type

Filling

FFS

Cartoning

Palletizing

The Market will Grow

At the CAGR of:

4.44%

The Forecast Market

Size for 2033 in USD:

$75.29B

Global packaging equipment market is classified into machine type, packaging technology, end-user, and region.
Based on machine type, the market is segmented into filling, FFS (Form, Fill, and Seal), cartoning, palletizing, labelling, wrapping, and cleaning & sterilizing. The form-fill-seal machine segment is anticipated to witness robust growth during the forecast period globally, due to their wide usage in end-use industries such as food, beverages, pharmaceuticals, and others.

Packaging Equipment Market

By Packaging Technology

XX%

General

Modified Atmosphere

Vacuum

48.78

Total Market Size

USD (Billion), 2023

4.44%

CAGR

2023 - 2033

Moreover, the wrapping machine is likely to expand at the fastest CAGR during the forecast period.
Based on end-user, the market can be segregated into food & beverages, pharmaceutical, personal care, chemicals, and others. The food industry segment accounts for the largest share during the forecast period due to an increase in demand for ready-to-eat and convenience food items along with single-serve bag sizes.

Packaging Equipment Market: Regional Analysis

Packaging Equipment Market

By Region

The Market will Grow

At the CAGR of:

4.44%

The Forecast Market

Size for 2033 in USD:

$75.29B

Geographically, the market is classified into North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.
North America is anticipated to account for the highest revenue share in the market over the forecast period, globally due to escalated disposable income in the region.
Asia-Pacific is anticipated to dominate the market during the forecast period with China holding the largest regional market share. The rise in pharmaceutical companies, booming e-commerce industries, and others are anticipated to boost the growth of the packaging market.

Packaging Equipment Market: Competition Scenario

Key players of global packaging equipment market are Barry Whemiller, Coesia, Krones, Mamata, Nordson, Pro Mach, Automated Packaging Systems, Dover, GEA Group, Graphic Packaging Holding, Illinois Tool Works, Multivac, and others.

Critical Questions Answered in the Report

•    What are the key trends in the market?
•    How the market (and its various subsegments) has grown in the last four years and what would be the growth rate in the next five years?
•    What are the key strategies adopted by the major vendors to lead in the market?
•    What is the market share of the top players?

Research Methodology

The research study extensively uses both secondary and primary research methodologies. More than 200 industry leaders from various phases of the value chain (demand side, supply side, resellers/distributors, and other independent consultants) were interviewed to gain crucial insights about this market and validate the research findings. Secondary sources referred for the research study include company websites, annual reports, paid database tools, investor presentations, webinars, blogs, news/journals, whitepapers, survey papers, associations, and government websites. All the collected data and insights were then processed using our proprietary data mining software that executes various algorithms to make projections for the forecast period.

Packaging Equipment Market Scope: