A new study from Transparency Market Research says high demand for processed and packaged food products and packaging sizes, increased production output in developing countries like India and China and the e-commerce industry is expected to generate growth for the packaging machinery market from 2019 to 2026, with a CAGR of 6%.
The report finds CPG manufacturers that require flexible packaging machinery with easy maintenance, operation, integration and low rejection rate, demand for a wider range of products and product diversity, along with rising demand for small portions and single serve bag sizes are influencing growth in the global packaging machinery market.
Key Findings of the Packaging Machinery Market Study
Increased Consumption of Packaged and Processed Food
The study finds population growth, especially in Asia Pacific, the Middle East and Africa, is one major factor driving the demand for processed and packaged food items. The flourishing food and beverage industry and rise in disposable income of consumers, especially in the Asia Pacific region, along with the emerging trend of snacking has also led to augmented demand for packaged and processed food items, contributing to substantial growth in the global packaging machinery market.
Integration of Advanced Technologies and Automation
The study finds the growing trends of automating production processes, combining different systems into one single system and lessening the number of workers to reduce cost in the packaging machinery industry. Companies are optimizing the packaging processes and smart maintenance services in their product lines. Introduction of internet of things (IoT), information technology (IT) and automation are helping in the simplification of inventory management systems. Product efficiency has increased with the advent of end-to-end information exchange systems, which reduces complications in the production processes and is likely to fuel growth of the global packaging machinery market. Integration of advanced technologies to improve production process is expected to have a positive impact on the market.
Global Packaging Machinery Market: Growth Drivers
- Increased consumption of packaged and processed food
- Manufacturers of consumer packaged products
- Automation of production processes
The study analyzes the global packaging machinery market growth in 30+ countries including U.S., Canada, Germany, UK, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India and South Korea.
Visit www.transparencymarketresearch.com for more information and to request a sample of the report.