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Where Does Your Industry Stack Up in Packaging Machinery Market Growth?

Factors like changing consumer preferences and sustainability initiatives are driving packaging machinery market growth across major sectors.

The food industry represented more than 40% of the packaging machinery market in 2023.
The food industry represented more than 40% of the packaging machinery market in 2023.
Monty Rakusen via Getty Images

It’s a good time to be in packaging, with a bright outlook for packaging machinery markets across all major industry sectors. But which sector comes out on top, and how do the others stack up?

PMMI Business Intelligence’s 2023 World Packaging Machinery report answers that question, sharing that the top three industries for packaging machinery market growth are food, beverages, and pharmaceuticals.

Food industry transformation

The global market for packaging machinery by industry. ($M)The global market for packaging machinery by industry. ($M)PMMI Business Intelligence: 2023 World Packaging Machinery ReportThe food industry is the leading user of packaging machinery, representing more than 40% of the packaging machinery market in 2023.

Currently sitting around $20 billion, the market is expected to reach almost $25 billion by 2027, driven by factors such as sustainable packaging and circularity.

Sustainable packaging will remain a leading trend in the food industry with food producers developing eco-friendly packaging options that reduce waste, minimize the use of non-renewable resources, and lower the carbon footprint of their products.

The food industry is undergoing substantial transformation in response to changing consumer purchasing patterns. Factors such as food safety, shelf life, and convenience have for some time emerged as pivotal factors influencing consumer choice, driving technological advancements, and new packaging trends.

The rising consumer preference for sustainable packaging has spurred businesses to explore inventive approaches, incorporating biodegradable and compostable materials into their offerings.

Innovations spur beverage industry

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