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Packaging Equipment Global market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033
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LONDON, GREATER LONDON , UNITED KINGDOM, September 25, 2024 /EINPresswire / -- The packaging equipment market has experienced robust growth in recent years, expanding from $42.1 billion in 2023 to $44.52 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to focus on efficiency, healthcare and pharmaceutical requirements, urbanization and consumer demand, advancements in smart packaging, stringent regulations.
What Is The Estimated Market Size Of The Global Packaging Equipment Market And Its Annual Growth Rate?
The packaging equipment market is projected to continue its strong growth, reaching $60.73 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to cost-efficiency and performance, healthcare and pharmaceutical growth, rise of smart packaging, rapid urbanization, food safety and hygiene, customization and flexibility.
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Growth Driver Of The 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.
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Which Market Players Are Steering The Packaging Equipment Market Growth?
Key players in the market include 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.
What Are The Key Trends That Influence Packaging Equipment Market Share And Analysis?
Major companies operating in the market are focused on developing automated machines such as automated in-line packing machines to improve packaging efficiency. Automated in-line packing machines are a type of packaging machinery used in the end-of-line packing process.
How Is The Global Packaging Equipment Market Segmented?
1) By Product: Fillers, Form Fill Seal, Lapping, Labeling, Coding, Bottling line
2) By Technology: General Packaging, Modified Atmosphere Packaging, Vacuum Packaging
3) By Application: Food & Beverage, Pharmaceuticals, Chemicals, Personal Care
Geographical Insights: Asia-Pacific Leading The Packaging Equipment Market
Asia-Pacific was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Packaging Equipment Market Definition
Packaging equipment offers producers and packers effective ways to package and safeguard goods for sale and transportation. Machines that are correctly calibrated and supported can reduce the number of packaging materials used and increase packing speeds.
The main products of package equipment are fillers, form fill seals, lapping, labeling, coding, and bottling lines. Filler is a chemical used to patch up gaps or fractures, particularly in wood, vehicle bodywork, and walls. The technologies included are general packaging, modified atmosphere packaging, and vacuum packaging used for various applications including food & beverage, pharmaceuticals, chemicals, and personal care.
Packaging Equipment Global Market Report 2024 from TBRC covers the following information:
.Market size data for the forecast period: Historical and Future
.Macroeconomic factors affecting the market in the short and long run
.Analysis of the macro and micro economic factors that have affected the market in the past five years
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global packaging equipment market report covering trends, opportunities, strategies, and more
The Packaging Equipment Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on packaging equipment market size, packaging equipment market drivers and trends, packaging equipment market major players and packaging equipment market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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The Business Research Company
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