Packaging machinery market is anticipated to grow at a considerable CAGR of 6.5% during the forecast period (2024-2031). The demand for packaged goods is driven by consumer preferences, e-commerce growth, technological advancements, sustainability, regulatory compliance, and rising disposable incomes. Advanced packaging machinery improves production speed, reduces errors, and meets standards. Therefore, the growing demand for packaging machinery is driving the global packaging machinery market.
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Market Dynamics
The demand for packaged goods, especially in the food and beverage industries, is rising significantly owing to the growing global population and changing customer preferences. According to the World Population Data Sheet, in December 2023 the global population is expected to reach its highest point at approximately 10.4 billion people by 2086. This year's update adjusts the peak to 2084, with the population reaching just under 10.3 billion.
Technological Advancements and Automation
Automation and smart packaging technologies are enhancing efficiency, productivity, and quality in packaging operations, reducing labor costs, and increasing production speeds. Thus, the ongoing technological advancements are creating a huge demand for packaging machinery globally. For instance, in July 2024, Cama Group launched a new top-loading packaging machine, aiming to increase productivity and reduce machinery footprint in the multipack market. The machine, designed by an Italian secondary-packaging machine company producer, is designed to meet the increasing demand for efficient multipack packaging. The machine is designed to fit seamlessly into production lines. Further, in February 2024, Ranpak launched the Cut'it! EVO automated in-line packaging machine for end-of-line packaging applications. The machine aims to pack materials using minimal volume and minimize void fill, supporting the EU Packaging Directive's maximum 40% void target. it additionally offers digital tools such as Precube'it! and DecisionTower.
Market Segmentation
Based on the machine type, the market is segmented into filling and dosing, form-fill-seal (FFS), labeling and coding, closing and sealing, wrapping and bundling, and others (palletizing and de-palletizing machines and cartoning machines).
Based on the end-user, the market is segmented into food and beverage, personal care, pharmaceutical, chemical, and others (electronics and industrial).
Food and Beverage is Projected to Hold the Largest Segment
The expansion of the beverage sector, especially in emerging markets, requires innovative packaging solutions to satisfy the rising consumer demand. For instance, in January 2024, Sidel launched EvoFILL PET, a new filler for beverage packaging, aimed at improving hygiene and efficiency in the growing water industry in China, India, and Turkey. Its reduced filler enclosure ensures flowmeter contactless filling and bottle integrity. Further, in October 2022, R.A Jones introduced the Orbi-Trak TC-6 speed-up kit for its Meridian XR machines, enabling beverage and food manufacturers to run canned product configurations at 345 cartons per minute. This innovative carton feed technology approaches the industry standard speed of 300 cartons per minute. The kit, featuring six spindle locations, boosts overall production rates.
Filling and Dosing Segment to Hold a Considerable Market Share
Efficiently satisfying the growing production demands requires high-speed packing capabilities. For instance, in July 2024, Jochamp introduced the JCZ-250 series of shisha dosing packaging machines, designed to address issues like tobacco extrusion and weight inaccuracy owing to viscosity in shisha packaging. These machines offer flexible packaging, weight accuracy, and high packaging speeds, with integrated HMI systems.
The major companies serving the packaging machinery market include Barry-Wehmiller Group, Inc., Coesia S.p.A., Illinois Tool Works Inc., Krones AG, MARCHESINI GROUP S.p.A., and Tetra Pak International S.A. among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers and acquisitions to stay competitive in the market.
Recent Developments
In March 2024, Ishida acquired South African packaging equipment manufacturer National Packaging Systems (NPS), offering entry-level weighing and packing systems for start-up operations. The partnership provided high levels of support, localized service, and spare parts supply, enabling customers to automate processes and benefit from a wide range of products.
In May 2023, Amcor acquired Moda Systems, a New Zealand-based company that designs and manufactures high-performance modular vacuum packaging solutions for the meat, poultry, and dairy industries.
The Report Covers
Market value data analysis of 2023 and forecast to 2031.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the packaging machinery market. Based on the availability of data, information related to new products, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying ‘who-stands-where’ in the market.
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