Global Packaging Machinery Market Size Set to Touch USD 60 Billion by 2030, Expanding Steadily at CAGR of 4.44% During 2023–2029

Published | 15 December 2023

Global Packaging Machinery Market is gaining traction because of the increasing demand for packaged food and beverage products and thriving e-commerce sector.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Global Packaging Machinery Market size at USD 46.21 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the Global Packaging Machinery Market size to grow at a CAGR of 4.44% reaching a value of USD 59.98 billion by 2029. High demand for packaged food and beverage items, as well as rising consumer spending on pharmaceuticals and personal care products, are major growth drivers for the Global Packaging Machinery Market. The thriving e-commerce sector across major regions is also expected to provide lucrative growth opportunities for companies in the Global Packaging Machinery Market.

Opportunity: Adoption of technological advancements & innovations in Packaging Machinery

The thriving manufacturing and e-commerce sectors are directly driving market demand for packaging machinery. As a result, industry players are significantly investing in innovations and launching new products to meet the packaging industry's demands. For instance, Harpak-Ulma Packaging LLC, a US-based packaging machinery company, announced the launch of FR 400 TWIN Flow Wrapper for high volume automated packaging operations. In another instance, Biopax Ltd, a UK-based printed carton and labels manufacturer, introduced a rotary flexographic paper wraps printing and packaging machine. Such developments and innovations are anticipated to boost the growth of Global Packaging Machinery Market during the period in analysis.

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Global Packaging Machinery Market – By End User

Based on end user, the Global Packaging Machinery Market is segmented into beverages, food, chemicals, personal care, pharmaceuticals, and others. The food segment holds the largest share of the Global Packaging Machinery Market. With changing lifestyles and an expanding workforce, the demand for packaged food is also surging at a high rate. The food industry is also offering a wide range of products in attractive packaging to address consumers’ changing needs and gain a competitive edge in the market. The pharmaceutical industry also holds a substantial market share owing to a high demand for pharmaceutical products, such as pills, tablets, and vaccines.

Impact of Escalating Geopolitical Tensions on the Global Packaging Machinery Market

The escalating geopolitical conflicts disrupted the growth of the global packaging machinery market. For instance, Russia’s unprovoked attack on Ukraine, which led to a full-fledged war between both countries, disrupted the production and supply chains of both the manufacturing and the packaging sector. The country’s manufacturing sector has been gaining momentum since 2017, with the rising output levels of certain commodities, such as rubber and plastic products and electronic and optical products. The war led to halt in the manufacturing sector and well as the international trade due to sanctions imposed by other countries on Russia. This led to significant decline in the production output, resulting in slower demand for packaging machinery.

The conflict between Israel and Palestine has also put a strain on the global packaging machinery market. Since 2022, Palestine's industrial production has also been growing rapidly. Palestine is well-known for its handicrafts such as glass, soap, and pottery, which are sold on the international market. However, as a result of Israel's attack on Palestine and the outbreak of war, the manufacturing sector has been shut down, affecting demand for packaging machinery in the region.

Competitive Landscape

Major players operating in the Global Packaging Machinery Market include KHS Group, SIG Combibloc Group, Tetra Laval Group, Barry-Wehmiller, Marchesini Group, Syntegon Technology GmbH, GEA Group, Sacmi, Coesia Group, and Maillis Group. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Don’t miss the business opportunity in the Global Packaging Machinery Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Global Packaging Machinery Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Global Packaging Machinery Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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