Packaging Machinery Market to Reach a Valuation of ~US$ 76.9 Bn by 2026

The packaging machinery market is expected to grow at a CAGR of ~6% during the forecast period. Technological innovations are likely to boost market growth. However, challenges of floorspace and accuracy of machines act as a barrier for packaging companies, especially in the pharmaceutical landscape. Hence, companies are introducing new liquid unit-dosing cup machines that ensure accuracy in packaging of controlled substance without sacrificing the floorspace. These novel machines are being manufactured to target small pharmaceutical manufacturers and contract development & manufacturing organizations (CDMOs).

Since the beverage end use segment is anticipated to account for a significant share of the packaging machinery market, companies are increasing their production capacities to manufacture coffee capsule packaging machine. They are aiming to transform the operational procedures by introducing virtual operation in the machines. Multilane sachet packaging systems are growing popular in the market for packaging machinery. Companies are increasing the availability of end-to-end automated packaging solutions using the vertical form-fill-seal technology. On the basis of this technology, companies in the market for packaging machinery are making it possible to group and package sachets in tamper evident cartons.

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Technological Advancements Lead to Introduction of Cost-efficient Automated Packaging Solutions

The ever-growing packaging machinery market is undergoing a change with the introduction of software-controlled pick & place case packing solutions. For instance, Blueprint Automation-a provider of innovative packaging automation solutions, has gained expertise in vision-guided robotic case and tray loading. Companies in the packaging machinery market are leveraging these robotic machines with cameras that are used as sensors to handle packages of any dimension. This attribute of robotic machines has helped stakeholders in the value chain to reach high production levels. Thus, stakeholders are receiving value for money, as these automatic systems are highly adaptive in functionality.

Likewise, companies in the market for packaging machinery are increasing R&D in cost-efficient automated box packaging technology. Multiple functions in a single system, such as opening, folding the flaps, and sealing in one go are gaining the attention of stakeholders in various end markets. This novel technology is acquiring popularity, since it helps to save secondary packaging time and efforts, especially for shipping large volume of goods.