Packaging machines are heavy-duty machines that pack goods, items, and other products. The machinery varies according to the functional requirement, such as filling and capping. Also, it performs other business-critical tasks such as item coding, labelling, and handling across various industries such as food and beverage, healthcare and pharmaceuticals, and cosmetics and personal care. It also performs several other tasks, such as filling, wrapping, sealing and packaging machinery to protect products from transportation and storage.
The global packaging machinery market is projected to reach USD 62.43 billion by 2030, at a CAGR of 5.4 percent from 2023 to 2030. Based on volume, the global packaging machinery market is projected to reach 13,603 thousand units by 2030, at a CAGR of 6.2 percent from 2023 to 2030 according to research and markets latest report.
The growth of this market is driven by the increase in goods manufacturing across industries, favourable government regulations for product safety, and technological advancements in fill-finish manufacturing processes. However, high initial costs associated with installing packaging machinery and stringent regulations to limit plastic usage restrain the growth of the global packaging machinery market. The rising foodborne diseases and increasing demand for processed and packaged products are expected to create growth opportunities for the players in this market. However, the lack of skilled operators is a significant challenge for market growth.
The global packaging machinery market is segmented into carded packaging machines, cartoning machines, case erectors, filling machines, stretch wrappers, shrink wrapping machines, case packers, labelling machines, bottle packaging machines, and other packaging machines. The shrink-wrapping machines segment is projected to register the highest CAGR during the forecast period. The growth of this segment is attributed to growing exports and imports worldwide and the benefits of shrinking packaging.
Global packaging machinery can be categorised as either single-function or multi-function. The multi-function segment is projected to register the highest CAGR during the forecast period due to the capabilities of machines to perform various tasks such as vertical form-filling-sealing, horizontal packing, bag placing, and rotary packing.
Finally, the automated category of packaging machinery, either automatic or semi-automatic, is projected to register the highest CAGR during the forecast period. Automatic packing machines help companies increase their volumes by automating the feeding and assembly of the products for packaging processes, reducing labour costs and minimising waste, leading to significant cost savings over time.
The global packaging machinery market is used in several markets, including food and beverages, healthcare and pharmaceuticals, agriculture, chemicals, personal care, consumer electronics, apparel and footwear, and other end-use industries. The healthcare and pharmaceuticals segment is projected to register the highest CAGR during the forecast period. The growth of this segment is attributed to the implementation of stringent regulations on product labelling and safety concerns.
Asia-Pacific is slated to register the highest CAGR during the forecast period. The growth of this market is attributed to several factors, including governmental initiatives to promote the adoption of environmentally sustainable packaging, consistent advancements in packaging technology by industry leaders, and expansion in the food sector.
