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The global packaging machinery market is set to witness an impressive growth rate of 4.5% over the forecasted years of 2022 to 2032. The packaging machinery market size is anticipated to reach a valuation of around US$ 88.25 Billion by the end of year 2032 from the current valuation of US$ 56.87 Billion in 2022.
The expanding conventional food & beverages intake, shifting consumer preferences toward organic and functional drinks, and a rise in the diversity of snacks and packaged products are all expected to have a positive impact on the sales of packaging machinery in the coming years. During the upcoming years, packaging machinery market expansion is predicted to be aided by expanding personal hygiene and health awareness along with steadily increasing expenditure on pharmaceutical products.
The need for highly complex packaging equipment for pharmaceutical items is expected to be increasing in the coming days, thus favoring the packaging machinery market opportunities in the future.
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Key Takeaways from Market Study
Some of the well-known packaging machinery market players are KHS Group, SIG Combibloc Group Ltd., Tetra Laval International S.A., Krones AG, I.M.A. Industrial Macchine, Automatiche S.p.A., Syntegon Technology GmbH, ProMach, GEA Group Aktiengesellschaft, Sacmi, Bradman Lake Ltd., ROVEMA GmbH, Douglas Machine Inc., Coesia S.p.A, Maillis Group, and Duravant, among others.
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Recent Developments in the Global Packaging Machinery Market:
Packaging Machinery Market by Segmentation
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4. Global Packaging Machinery Market Analysis 2017-2021 and Forecast, 2022-2032
4.1. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis, 2017-2021
4.2. Current and Future Market Size Value (US$ Mn) & Volume (Units) Projections, 2022-2032
Packaging machinery performs variety of functions that include canning; container cleaning, filling, and forming; bagging, packing, unpacking, bottling, sealing, and lidding; inspection and check weighing; wrapping, shrink film, and heat sealing; case forming, labeling, and encoding; palletizing and depalletizing; and related applications.
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