Global Packaging Equipment Sales To Grow Nearly 3% By 2021

|
EmailFacebookTwitter

Reston, VA — Sales for packaging machinery are anticipated to increase 2.8 percent by 2021, reaching $42.2 billion, according to PMMI.

Factors driving growth include increasing populations, heightened sustainability concerns, growing spending power in developing markets, growing popularity for flexible packaging and developments in smart packaging, according to the trade organization.

While food manufacturers accounted for the biggest market share, at 40 percent, the pharmaceutical industry is projected to have the fastest growth during the period at 4.1 percent, according to PMMI.

Machine types expected to have the fastest growth during the forecast period are horizontal form, fill, seal equipment; fill and seal machines and labeling; decorating and coding equipment, according to the trade organization.

Infograph on sales projections for packaging machinery.