Global Packaging Machinery Market Size, Share, Growth Analysis, By Type(Filling Machines, and Labeling and Coding Machines), By End-User(Food and Beverage, Pharmaceuticals) - Industry Forecast 2024-2031

Global Packaging Machinery Market size was valued at USD 44.80 billion in 2022 and is poised to grow from USD 46.82 billion in 2023 to USD 66.58 billion by 2031, growing at a CAGR of 4.50% during the forecast period (2024-2031).

The global packaging machinery market is experiencing significant growth due to several key factors. One of the main drivers is the high demand for packaged foods and beverages, along with the increasing consumer spending on pharmaceuticals and personal care products. Packaged food and beverages offer convenience, ease, and time efficiency, which strongly influence consumer purchasing behavior. As a result, consumers are more inclined to invest in these products. Moreover, the rising proportion of millennials and Gen-Z consumers in the market is expected to further drive the demand for convenience products. In addition, the market growth is fueled by continuous innovations and technological advancements. Automation, robots, and other cutting-edge technologies are enhancing the penetration of packaging machinery across various sectors. Automated and semi-automated packaging machines enable end-user industries to scale up their operations effectively while maintaining cost control. Another significant factor contributing to market growth is the increasing popularity of e-commerce and online shopping worldwide. With the widespread availability of internet connections and the rise of online retailers, e-commerce is gaining momentum. This trend creates a higher demand for packaging equipment in logistics organizations to wrap and package products before shipping. Furthermore, the market is supported by the development of efficient packaging equipment and the adoption of vacuum packaging techniques. These advancements encourage established end-user industries to embrace innovative solutions for optimal business expansion, thus fostering market growth. Lastly, stringent government regulations imposed by industrialized nations promoting environmental packaging play a crucial role in driving industry growth. These regulations create a demand for sustainable packaging solutions, leading to increased market opportunities for packaging machinery manufacturers.