China & U.S. Continue to Dominate Global Packaging Machinery Market

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Apr 19, 2022, 16:36 ET

CLEVELAND, April 19, 2022 /PRNewswire/ -- Despite developed manufacturing industries, the US and China are expected to account for half of all packaging equipment sales growth through 2026, finds a new Freedonia Group analysis. Rising demand for more advanced equipment will be a key driver of growth in both countries:

In the US, increased spending on advanced packaging technologies will boost productivity, reduce labor costs, and allow for greater customization of packaging. Strong interest in providing packaging that is viewed as sustainable will also encourage companies to invest in new machines.
In China, greater mechanization of packaging processes and intensifying competition globally for a number of export-oriented industries will support sales of more advanced machinery.

Global Packaging Equipment Demand to Grow Nearly 6% Annually Through 2026

The Freedonia Group projects global demand for packaging equipment to increase 5.8% per year through 2026 to $71.1 billion. Multiple trends will drive market growth, including:

advances in world durable and nondurable goods production, as well as the associated construction of new factories and expansion of existing sites
the continuing shift away from manual packaging techniques by small- and mid-sized industrial enterprises around the world
the more intensive use of packaging materials in developing nations, particularly as they increasing export to other countries
rising demand for state-of-the-art packaging technologies in markets with established manufacturing industries because of concerns about workforce issues and the desire to reduce costs
the adoption of new product standards and health and safety regulations that will spur demand for new packaging materials and equipment
the growing use of green packaging materials – which often require operators to purchase new equipment – in light of mounting concerns about pollution and waste

Want to Learn More?

Global Packaging Machinery is now available from The Freedonia Group. This study provides historical data for 2011, 2016, and 2021, and forecasts for 2026 and 2031 for global packaging machinery shipments, demand by product type, and net exports on a country-by-country basis, valued in millions of current US dollars, including inflation.

Products:

filling equipment
case forming, packing, and sealing machinery
labeling and coding machinery
wrapping equipment
other types of packaging machinery
packaging machinery parts

Demand is also analyzed by the following markets:

food
beverage
pharmaceuticals and personal care products
chemicals
other markets

About the Freedonia Group - The Freedonia Group, a division of MarketResearch.com, is the premier international industrial research company, providing our clients with product analyses, market forecasts, industry trends, and market share information. From one-person consulting firms to global conglomerates, our analysts provide companies with unbiased, reliable industry market research and analysis to help them make important business decisions. With over 100 studies published annually, we support over 90% of the industrial Fortune 500 companies. Find off-the-shelf studies at https://www.freedoniagroup.com/ or contact us for custom research: +1 440.842.2400.

Press Contact:
Corinne Gangloff
+1 440.842.2400
[email protected]

SOURCE The Freedonia Group