Growth of the Packaging Machinery Market to be driven by High Demand from CPG Manufacturers and Need for Industrial Automation: TMR

The growing need for increasing production output, particularly in rapidly developing countries like India and China, is expected to foster development of the global packaging machinery market over the forecast timeline, from 2019 to 2026. Rising demand for a wide variety of products has led to need for different packaging sizes, which is likely to augur well for the market in the near future. In addition, thriving e-commerce industry is estimated to play a significant role in driving the demand for packaging machinery in the years to come.

Manufacturers of consumer packaged goods (CPG) generate large requirements for flexible packaging machinery due to growing demand for a wider range of products and greater product diversity. These manufacturers demand for machinery that would ensure overall effectiveness with easy maintenance, operation, integration, and low rejection rate. These factors are expected to drive the demand in the market over the projection period.Besides, rising demand for small portions and single serve bag sizesis expected to trigger growth of the global packaging machinery market in the near future.

High demand for processed and packaged food products is likely to generate growth avenues for the global packaging machinery market. Clocking ~6% CAGR, the global packaging machinery marketis expected to observe healthy growth over the tenure of assessment, from 2019 to 2026.