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Posted by freeamfva on July 9, 2024 at 11:20pm 0 Comments 0 Likes
The global Packaging Machinery Market size is expected to reach USD 59.24 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.1% from 2021 to 2028. KHS Group, SIG Combibloc Group Ltd., Tetra Laval International S.A., Krones AG, I.M.A. Industria Macchine Automatiche S.p.A., Syntegon Technology GmbH, ProMach are some of the key players in this industry. The rising demand for packaged food and beverages, coupled with the growing pharmaceutical and personal care industries, is expected to drive the demand for packaging machinery over the forecast period.
The growing popularity of single-serve bag sizes and smaller portions has increased the demand for high-speed and efficient packaging machines. Moreover, with the consumer-driven demand for a wide range of products in different packaging sizes and shapes, there is an increasing demand for flexible packaging machines that can adapt to different products and pack styles.
Consumers and retailers are increasingly demanding sustainable packaging styles resulting in the machine manufacturers requiring to work closely with material suppliers to test new materials and make necessary modifications to the machine. Moreover, with the rapid developments in retail packaging formats, the demand for faster and more flexible machines has increased.
The market is expected to witness growth in the years to come on account of the rising demand for personal care and medical products, such as hand sanitizers, soaps, face masks, and gloves, despite the supply chain disruptions caused due to the COVID-19 pandemic. In addition, lockdowns and movement restrictions have further increased the demand for packaged food.
Related Press Release@ Packaging Machinery Market Report
Packaging Machinery Market Report Highlights
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