Published Date: 24-Nov-2021
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According to a new report Global Packaging Machinery Market, published by KBV research, The Global Packaging Machinery Market size is expected to reach $58.3 billion by 2027, rising at a market growth of 5.9% CAGR during the forecast period.
In 2020, the filling segment garnered the second-highest revenue share in the market. Filling machines helps in measuring the product by a fixed value, weight, volume, or count from a bulk supply, which is filled into several packaging formats. The simplest type of filling machine is operated manually as a single-head mounted device or complicated rotary fillers with various filler heads that are utilized to fill thousands of containers each minute.
The pharmaceuticals segment is estimated to witness the highest growth rate during the forecast period. Packaging machines are widely utilized for the packaging of various kinds of pharmaceutical products, like capsules, tablets, liquids, vaccines, and antiseptic creams. There is a need for highly advanced packaging machines to preserve various drugs and keep them free from contamination. The personal care segment is projected to record a significant growth rate over the forecast period. Rise in spending & buying power, shifting lifestyles, and high accessibility of many products that cater to the demand for every kind of consumers are some of factors boosting the growth of this segment. Therefore, the market growth is driven by the booming personal care sector.
The Asia Pacific emerged as the leading region in the packaging machinery market with the maximum revenue share in 2020. Factors like swiftly growing population, along with the rising household spending capacity, are anticipated to fuel the demand for packaged consumer products that would boost the growth of the regional market. The swift expansion of the e-commerce industry in China is estimated to fuel the demand for packaging machines in China during the forecast period. Additionally, the growth of regional market is anticipated to be propelled due to the easy to fulfill regulations and requirements of food processing, safety & packaging technologies, and the supportive government steps towards energy savings and technology & equipment upgrades.
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of KHS Group (Salzgitter Klöckner-Werke GmbH), Tetra Laval International S.A., Barry-Wehmiller Companies, Inc., CKD Corporation, Coesia S.p.A., Duravant LLC, Fuji Machinery Co., Ltd., Langley Holdings plc, Syntegon Technology GmbH, and The Adelphi Group of Companies.
By End Use
By Machine Type
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