by Corinne Gangloff
February 26, 2020
A new Freedonia Group analysis projects healthy 4.5% annual growth for the global packaging machinery market through 2023, driven by global increases in manufacturing activity, rising mechanization in developing countries, and high-value sales of state-of-the-art equipment in affluent markets. In particular, trends in the dominant food and beverage market and in the leading regional market, the Asia/Pacific, will continue to be major influences on global sales.
Manufacturers of food and beverage products are among the most intensive users of both packaging materials and associated machinery. Accordingly, these markets will account for 56% of all new packaging machinery demand through 2023, as:
The Asia/Pacific region, led by China, will account for a majority of new product sales through 2023. In part, the robust annual growth projected for the region will be driven by fast expected gains in countries outside of China, such as Indonesia, India, and Thailand, as manufacturing activity and mechanization rates increase. Furthermore:
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Global Packaging Machinery is now available from The Freedonia Group. This study analyzes global supply and demand for packaging machinery by product, market, region, and country. Historical data for 2008, 2013, and 2018, and forecasts for 2023 and 2028 are provided for shipments, demand by product type, and net exports of new packaging machinery on a country-by-country basis, valued in millions of current US dollars, including inflation.
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