Global Packaging Machines Industry: Market Size, Share and Forecast
Packaging is of prime importance to a number of industries including pharmaceuticals, food & beverage, chemicals, personal care and other cosmetics. It is a no brainer that packaging protects various products from external elements such as moisture, physical damage, contamination and light to name a few. Packaging not only plays a pivotal role in keeping the product integrity intact throughout various stages such as manufacturing, storage, transportation and consumption, but also to provide necessary information to the customer. That’s not it! Packaging is also important to attract new customers. Packaging machinery has always been important for packaging purposes as they are indispensable to a variety of industries. This market has grown at an exponential pace and the future seems even brighter. Let’s take a quick look at the global packaging machine industry, its market size and how the market looks like in the coming years.
The Global Packaging Machinery Market by 2025
The global packaging machinery market was estimated at about US $43.46 bn in 2018 and it is forecasted to grow at a whopping 5.2% of CAGR by 2025. There are several factors fueling this growth such as increased demand for a whole array of products apart from packaging sizes. As we all know that the ecommerce industry is flourishing at a phenomenal pace. There has been an increased demand for single serve bag sizes as well as small portions. We are all aware of the increasing demand from CPG manufacturers for high-end machines. The demand for these high-end machines is because of the effectiveness they offer. There is a low rejection rate, ease of functioning and the highest level of flexibility. There is a low carbon footprint which all companies across the required to be careful about.
The impact of regulations outlined by CEN and ANSI
The European Committee for Standardization (CEN) and American National Standards Institute among some others have in place certain standards for the safety standards of the packaging machines apart from the packaging and labeling requirements. This will have a positive impact on the global packaging machinery industry.
Various machine types and their future
As far as the machine type is concerned, the market is categorized into filling, labeling, wrapping, cartoning and palletizing. Form fill seal machine type was estimated about USD 7.11 bn in year 2018 which is expected to grow in the coming years. Similarly, wrapping machine type was estimated about USD 2.5 bn in 2018 and the demand for this machine type is expected to grow at the fastest CAGR by 2025. These machines are used for wrapping flexible packaging material inclusive of paper, aluminum, and plastic films among others.
End Use Industries over the Forecast Period
When it comes to the end use industries, the market is classified into chemicals, food & beverage, pharmaceuticals and personal care among others. The food end use industry is forecasted to reach USD 13.9 bn by the year 2025.
Hope you found the post useful. Stay tuned for more!