Packaging Machinery Global Market Report 2024 Global Market Analysis, Trends, Growth, Research And Forecast 2033

The Business Research Company recently released a comprehensive report on the Global Packaging Machinery Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The packaging machinery market size has grown strongly in recent years. It will grow from $43.76 billion in 2023 to $46.59 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to increased global population and consumer demand, growth in food and beverage industry, expansion of e-commerce and retail packaging, emphasis on automation and efficiency in packaging, demand for sustainable and eco-friendly packaging solutions.

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Market Drivers and Trends:

The growing e-commerce industry is expected to boost the growth of the packaging machinery market going forward. E-commerce, refers to the buying and selling of goods and services over the internet or other electronic networks. E-commerce businesses deal with a wide range of product sizes and shapes, necessitating flexible and adaptable packaging machinery to accommodate these variations. For instance, in October 2021, according to a report published by the International Trade Administration, a US-based agency, it is expected that e-commerce for consumer goods would account for about 22% of all retail sales worldwide, growing at an average rate of over 1% by 2024. Retail e-commerce sales also point to a consistent, long-term increase of 8% in all global retail e-commerce sales through 2024. Therefore, the growing e-commerce industry is driving the growth of the packaging machinery market.

Major companies operating in the packaging machinery market are developing innovative products such as automated packaging solutions to meet larger customer bases, more sales, and increase revenue. An automated packaging solution refers to a comprehensive system or process in which packaging tasks, such as product sorting, filling, sealing, labeling, and palletizing, are executed with minimal human intervention. For instance, in September 2022, Ranpak Holdings Corp., a US-based packaging machinery manufacturer, launched Cut'it! EVO. One of the standout attributes of this product is its capacity to significantly increase packaging output, lower operational expenses, and promote sustainability within customers' operations. Furthermore, this innovative solution effectively reduces the need for temporary labor and, on average, trims down the dimensional volume to be shipped by 25%. It seamlessly integrates into a standard end-of-line setup in a packing operation. Once the products are securely packed, Cut'it! EVO performs a series of tasks. It first identifies the carton's highest filling point, eliminating excess cardboard and neatly folding it to reduce the package's overall height. Subsequently, the system automatically affixes a glued lid to the box, preparing it for the subsequent stages of palletizing and shipping.

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Major Key Players of the Market:

Aetna Group S.p.A.; B&H Manufacturing Company Inc.; Barry-Wehmiller Companies Inc.; CKD Corporation; Coesia S.p.A.; Bosch Packaging Technology (part of Robert Bosch GmbH); Krones Group; Marchesini Group S.p.A.; Berhalter AG; Adelphi Group of Companies; Fuji Machinery Co. Ltd.; Great Pack Co. Ltd.; Ishida Co. Ltd.; Sanko Machinery Co. Ltd.; Pro Mach Inc.; Multivac Group; Tetra Laval International S.A.; Robert Bosch GmbH; IMA Group S.p.A.; Duravant LLC; Oystar Holding GmbH; Accraply Inc.; KHS GmbH; Langley Holdings plc; PMI Cartoning Inc.; Bradman Lake Group Ltd.; ADCO Manufacturing; Schneider Packaging Equipment Co. Inc.; Omori Machinery Co. Ltd.; Rovema GmbH; Smurfit Kappa Group; Hangzhou Youngsun Intelligent Equipment Co. Ltd.

Packaging Machinery Market 2024 Key Insights:

• The packaging machinery market size is expected to grow to $59.19 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%.
• E-Commerce Expansion Fuels Growth In The Packaging Machinery Market
• Solutions Transform The Packaging Machinery Market
• Asia-Pacific was the largest region in the packaging machinery market in 2023.

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