Global Packaging Machinery market research 2024, Forecast To 2033

The packaging machinery market has demonstrated robust growth, increasing from $43.76 billion in 2023 to $46.59 billion in 2024, with a compound annual growth rate (CAGR) of 6.5%. The substantial growth in the historic period is attributed to factors such as the rise in global population and consumer demand, growth in the food and beverage industry, expansion of e-commerce and retail packaging, emphasis on automation and efficiency in packaging processes, and the increasing demand for sustainable and eco-friendly packaging solutions. Anticipating continued strong growth in the next few years, the market is projected to reach $59.19 billion in 2028, reflecting a CAGR of 6.2%. The expected growth is driven by factors such as the adoption of smart and IoT-enabled packaging machinery, expansion of the personal care and cosmetics packaging market, ongoing research and development in flexible and sustainable packaging technologies, the need for customized and specialized packaging solutions, and a focus on packaging machinery for pet food and animal care products. Major trends in the forecast period include the implementation of robotic packaging automation, increased emphasis on sustainable packaging solutions, advancements in labeling and printing equipment, the application of packaging machinery in e-commerce and parcel services, and the adoption of aseptic packaging technology.