Packaging Machinery Market : Latest Trends, Demand and Analysis 2017 - 2023

The demand for packaging machinery is largely driven by the increasing demand for consumer goods, increasing adoption of automated packaging machines, and the development of energy-efficient machines. Modern automated packaging machines are used in different stages of packaging and ensure that the stages are completed in minutes rather than hours compared to the older versions.

Packaging Machinery Market Report, published by Allied Market Research, projects that the global market size was valued at $39,647 million in 2016 and is projected to reach $62,063 million by 2023, growing at a CAGR of 6.7% from 2017 to 2023.

The end user industries are increasingly shifting towards sophisticated, integrated, and standardized equipment to comply with environmental standards and reduce packaging waste. The global food & beverage industry is expected to grow at a notable rate over the forecast period. Majority of this demand is expected from emerging countries due to the rise in consumer income, demand for ready-to-eat packaged food, and improvement in living standards.

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Packaging machinery is used in packaging medical products and helps in maintaining the stability of drugs and maintains their shelf life. IMA S.p.A. and Robert Bosch GmbH are the major manufacturers of pharmaceutical packaging equipment. Blister packaging machines, counting machines, tube filling & sealing machines, carton machines, case packaging machines, and labeling machines are the major machinery used in the pharmaceutical packaging market.

Asia-Pacific accounted for the highest share in the global packaging machinery industry in 2016, and is expected to maintain its dominance throughout the forecast period, owing to existence of wide array of food & beverage and personal care product manufacturers in the region. The region is anticipated to grow at the highest rate in the near future, owing to high economic growth rate and high demand in emerging markets of China and India.

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Wrapping machines are the second-fastest-growing segment in the global packaging machinery industry. The majority of the growth in the market is expected to be witnessed from the emerging regions of Asia-Pacific and Africa. Factors such as an increase in demand for fresh food & beverages, home & personal care goods, and pharmaceutical industries; and growth of the retail industry have driven the global wrapping packaging machineries market

The key players focus on expanding their business operations in the emerging countries by adopting various strategies, such as acquisitions and contracts/agreements. The major players profiled in this report include Adelphi Packaging Machinery, Aetna Group, B&H Labelling Systems, Barry-Wehmiller Companies, Inc., Bosch Packaging Machinery, Bradman Lake Group, CKD Group, Coesia SpA, Fuji Machinery Company, and Harland Machine Systems Ltd.

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