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Rising Demand for Efficient Packaging Equipment: Insights into Market Size, Key Players, and Emerging Trends
Rising Demand for Efficient Packaging Equipment
Accelerating at a Compound Annual Growth Rate (CAGR) of 5.5% and 9.6% respectively, the global packaging equipment market is projected to grow from $44.17 billion in 2024 to $67.2 billion in 2029.
What Is The Projected Market Size Of The Global Packaging Equipment Market And Its Growth Rate?
• Market size in 2024: $44.17 billion
• Market size in 2025: $46.59 billion (CAGR of 5.5%)
• Market size in 2029: $67.2 billion (CAGR of 9.6%)
The growth is attributed to factors such as efficiency, healthcare and pharmaceutical requirements, urbanization and consumer demand, advancements in smart packaging, and stringent regulations.
What Is Driving The Growth In The Packaging Equipment Market?
The packaging equipment market is experiencing robust growth due to the surging demand for flexible and integrated packaging machinery. This type of machinery can effectively process diverse packaging materials into various types of packaging including filled bags, sticks, and pouches. The increasing demand for packaging equipment arises from trends such as maximizing consumer value, improving sales, and enhancing the efficiency of the entire supply chain. As an example, a report by The Association for Packaging and Processing Technologies (PMMI) in October 2022 stated that domestic shipments of packaging machinery increased by 11.2%-reaching a total category value of $10.5 billion.
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Who Are the Key Players Driving Packaging Equipment Market Growth?
• 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
• 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.
• 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.
What Are The Key Trends In The Packaging Equipment Market?
• Automation and industry 4.0 integration
• Sustainability initiatives
• Customization and flexibility
• Smart packaging technologies
• Consumer safety and hygiene standards
What Are The Segments Of The Global Packaging Equipment Market?
• Product: Fillers, Form Fill Seal, Lapping, Labeling, Coding, Bottling line
• Technology: General Packaging, Modified Atmosphere Packaging, Vacuum Packaging
• Application: Food And Beverage, Pharmaceuticals, Chemicals, Personal Care
Which Region Leads The Packaging Equipment Market?
The Asia-Pacific region was the largest market for packaging equipment in 2024. The regions covered in this market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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What Is Covered In The Packaging Equipment Market Global Market Report?
- Market Size Analysis: Analyze the Packaging Equipment Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Packaging Equipment Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Packaging Equipment Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Packaging Equipment Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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