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SAN FRANCISCO , Oct. 20, 2021 /PRNewswire/ -- 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. 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.
Read 167 page market research report, "Packaging Machinery Market Size, Share & Trends Analysis Report By Machine Type (Filling, Labeling, Form-Fill-Seal), By End-use (Food, Beverage, Pharmaceuticals), By Region, And Segment Forecasts, 2021 - 2028", by Grand View Research
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.
Grand View Research has segmented the global packaging machinery market on the basis of machine type, end-use, and region:
List of Key Players of Packaging Machinery Market
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco , the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact: Sherry James Corporate Sales Specialist, USA Grand View Research, Inc. Phone: 1-415-349-0058 Toll Free: 1-888-202-9519 Email: [email protected] Web: https://www.grandviewresearch.com Follow Us: LinkedIn | Twitter
SOURCE Grand View Research, Inc.
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