Packaging Machinery Market Growth Expected
Released last month, the Packaging Machinery Global Market Report 2022 indicated that growth is expected to increase significantly over the next four years. According to the report, the packaging machinery market could reach $50.7 billion (USD) in 2026 at a CAGR of 5.45%. This follows figures from 2021when the market value reached $39.23 billion. It is expected to top almost $41 billion in 2022, with a CAGR of 4.49%.
As packaging machine manufacturers for more than a century, we take a closer look at some of the driving trends propelling the expected growth and opportunity across the sector.
Trends driving increases in demand for packaging machinery
Across the world, packaged food and beverages are experiencing one of the biggest surges in consumer demand. As eCommerce is also growing significantly, it highlights changing consumer lifestyle and shopping habits following the restrictions created by the Covid-19 pandemic.
Food and drink sector propelling growth
It is predicted that increasing demand for processed packaged food and drink will be the catalyst for propelling growth of the packaging machinery market. This is based largely on recent data that showed a 95% increase (year-on-year – July 2021) which highlighted the shift in consumer purchasing habits. Even with lessening pressure from lifted lockdown restrictions last year, we can see that consumer attitudes and behaviours have changed – perhaps for the long term.
New products and packaging materials fuelling development
Another key trend driving packaging machine development is the introduction of new products and packaging mediums. This is resulting in the introduction of newer, advanced technologies in packaging machinery, which is in turn leading to greater efficiency, increased output and a reduction in the reliance on resources.
Creating a circular economic effect, the development of automatic packaging machinery and the additional capabilities are driving the introduction of new products too. This is a knock-on effect that is widely recognised, and as packaging materials develop further, growth may experience another surge.
Future proofing and scalability
Packaging businesses across the globe are increasingly putting scalability at the forefront of operations, having learned from the experiences of the past few years. With workforce restrictions, changing regulations, safety measures and compliance and soaring energy costs posing big challenges for operators, it comes as little surprise.
Scalability is more easily achieved through automation and future proofing in this way is likely to drive the sector significantly over the next four years. Automatic packaging machinery provides a ‘hands-off’ approach to both packaging and maintenance, dramatically reducing human intervention. This means that resources usage can be fully scalable – from extending shift patterns during peak or seasonal demand to increasing quality control at other times, for instance.
When costs and resources can be scalable, it gives operators greater access to a wider range of opportunities, further driving growth across all manufacturing sectors.
Can we help future proof your packaging line?
Jacob White has been building and developing packaging machinery for more than one hundred years. We understand how the challenges of the past few years have put pressure on businesses of all sizes and now is the time for future proofing.
Working closely with our clients is the key to ensuring the right solutions to give them the flexibility and vital scalability they need. If you’ve been encouraged by the opportunities, but wondering how you can meet demand, talk to us and let us guide you through.
