Packaging Equipment Market 2024 - Share, Ongoing Trends, Size, Growth Rate And Key Players

The new report published by The Business Research Company, titled ""Packaging Equipment Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the packaging equipment market size has grown strongly in recent years. It will grow from $42.1 billion in 2023 to $44.52 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The packaging equipment market size is expected to see strong growth in the next few years. It will grow to $60.73 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%.

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Rising Demand For Versatile And Integrated Packaging Machinery Drives Packaging Equipment Market
The growing need for flexible and integrated packaging machinery is expected to propel the growth of the packaging equipment market going forward. Flexible and integrated packaging machinery refers to equipment that processes a film to produce filled bags, sticks, pouches, and others. It is a coordinated system of preparing goods for safe, economical, and efficient movement throughout the entire supply chain, ultimately leading to the maximization of consumer value, sales, and consequently profits, thus, also creating significant demand for packaging equipment. For instance, in October 2022, according to a report published by The Association for Packaging and Processing Technologies (PMMI), a US-based packaging industry association, there was an 11.2% increase in domestic shipments of packaging machinery, resulting in a total category value of $10.5 billion. Converting machinery also experienced growth in the preceding year, with a 9.5% rise in domestic shipments, reaching $1.1 billion. Therefore, the growing need for flexible and integrated packaging machinery is driving the growth of the packaging equipment market.

Technologies Drive Advancements In The Packaging Equipment Market
Technological advancements are a key trend gaining popularity in the packaging equipment market. Major players are concentrating their efforts on creating innovative technologies to sustain their position in the packaging equipment market. For instance, in 2022, Viking Masek Packaging Technologies, a US-based manufacturer of high-performance automated packaging systems, launched the 4SC-235, a new automated pouch packaging machine developed with small businesses in mind. Viking Masek has helped an entirely new client market with the invention of the 4SC-235 prefabricated pouch machine. It also provides existing brand-loyal customers with a small, highly productive, premade pouch packaging solution.

The packaging equipment market covered in this report is segmented -

1) By Product: Fillers, Form Fill Seal, Lapping, Labelling, Coding, Bottling line
2) By Technology: General Packaging, Modified Atmosphere Packaging, Vacuum Packaging
3) By Application: Food & Beverage, Pharmaceuticals, Chemicals, Personal Care

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Major companies operating in the packaging equipment market report are Barry-Wehmiller Companies Inc., Coesia S.p.A., Krones AG, Robert Bosch Packaging Technology GmbH, Douglas Machine Inc., Dover Corporation, Illinois Tool Works Inc., Amcor plc, Bemis Company Inc., GEA Group AG, Graphic Packaging Holding Company, Duravant LLC, Sacmi Imola S.C., Marchesini Group S.p.A., Garvey Corporation, Accutek Packaging Equipment Companies Inc., Adelphi Group Ltd., Arpac LLC, Oystar Holding GmbH, Berhalter AG, Multivac Inc., Nichrome India Ltd., Cougar Packaging Solutions Inc., Duravant LLC, Fuji Machinery Co. Ltd., Omori Machinery Co. Ltd., Harland Machine Systems Ltd., IMA S.p.A., Ishida Co. Ltd., KHS GmbH, Kyana Packaging & Industrial Supply Inc., Practical Packaging Solutions, R.A Jones & Co. Inc. .

Contents of the report:
1. Executive Summary
2. Packaging Equipment Market Report Structure
3. Packaging Equipment Market Trends And Strategies
4. Packaging Equipment Market - Macro Economic Scenario
5. Packaging Equipment Market Size And Growth
…..
27. Packaging Equipment Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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