Global Packaging Machines Market to Reach New Heights
According to industry figures and predictions, the global packaging machines market is continuing its upward trend at a faster pace than expected. Driven in part by consumer preferences and increasing expenditure in specific sectors, the positive impact is creating a swathe of opportunities for manufacturers of all sizes.
We take a closer look at how and why the market is reaching new heights and how manufacturers are harnessing the opportunities.
Growth rapidly accelerating over the next decade
When we compare previous market value expectations, there is a growing gap on the positive side. At the start of 2021, industry expectations were high for the following year, predicting a market value of $41 billion for 2022.
According to leading market analysts, this rose to almost $57 billion (USD), with a CAGR of 4.5%. Using this model, it is anticipated that the market value could reach $88.25 billion by the close of 2032.
The key drivers
Across the world, the packaging machinery market is largely being driven by the consumer. Over the past handful of years, there has been a broad shift in consumer behaviour. This has resulted in access to a much wider and more varied range of goods.
With demand increasing, particularly in the food and beverage sectors, sales of automated packaging lines have been climbing alongside (food packaging machines accounted for over 65% of the market share).
Packaging machine technology has accelerated with rising demand. Today, as ever friendlier packaging materials are developed, manufacturers are finding demand rising for machinery that can handle lighter weights and more complex packaging designs.
Rising regulation, environmental awareness, sustainability and the need for diversity are also driving the uptake of automated packaging machinery. At a time when scalability and flexibility are needed the most, automation is ready to provide the solution.
Packaging into the future with Jacob White
Automating packaging lines is the key to managing the predicted demands, while maintaining a flexible, scalable approach. This type of future proofing is fast becoming a high priority as automation demonstrates the ability to overcome the typical challenges of the traditional shop floor.
For 113 years, Jacob White has been designing and building some of the most innovative, ground-breaking packaging machines in the industry. Find out more about our semi- and fully automated packaging machines or contact us to arrange a consultation.