Excelent expectations of market increase
Based on one of the latest studies appeared, Allied Market Research, Global Packaging Machinery market, valued aprox at 43.52 Mio$ in 2020, is projected to reach almost 70 Mio$ by 2030, with a CAGR of 4,7% forecasted (2020/2030).
Covid-19 has affected the growth of the market due to lockdown measures and delays in manufacturing and production, but less than other manufacturing business around the world.
Driving Key Facts
This market is keeping its positive trend due to the increase of applications in a wide range of industries, like Food&Beverage, Healthcare, Cosmetics, as well as Industrial sectors where the packaging has become essential.
The market increase is driven by:
• Increase of consumer goods demand
• Adoption of automated packaging machines, that reduces the whole production process time
• Development of energy efficient machines
• Increasing demand for packaging robots
Concerning the type of Machinery, this market is categorized into Filling Machines, Form, Fill and Seal machines (FFS), Cartonining, Palletinzing, labelling, wrapping and Cleaning and Sterilizing.
This last one, Cleaning and Sterilizing have one of the biggest CAGR, for sure this is related with the pandemic effects in the Pharma industries, among others.
End-User segmention includes Food&Beverage, Pharmaceuticals, Chemicals, Cosmetics, and Others.
Food & Beverage segment holds its important position in 2020.
By region, Packaging Machinery market is divided by regional markets as by North Amercia (US, Canada and Mexico), Europe (Germany, UK, France, Italy and rest of Europe), Asia-Pacific (China, India, Japan, Australia and rest of Asi-Pacific) and LAMEA (Latin America, Middle East and Africa).
The fastest growing regional market of Packaging Machinery is this last group, Latin America, Middle East and Africa, due to increase in personal disposable income in Argentina, Colombia and Nigeria. Increase in urbanization and e-commerce are also drivers.