Packaging Equipment Market to reach $47bn by 2024 Packaging Equipment Market

Packaging Equipment Market to grow at 3% CAGR
from 2018 to 2024: Global Market Insights Inc.
Packaging Equipment Market to exceed USD 47 billion by 2024; driven by growing
focus on labeling and serialization for anti-counterfeiting of drugs. Increasing
adoption of automation in several industrial sectors has significantly pushed the
worldwide packaging equipment industry growth. Another pivotal factor that has had
a significant impact is the escalating demand for packaging robots that ensure
efficient time management and product safety across the value chain.
As per the report, the F&B sector accounted for 55% of the packaging equipment
market share in 2017. Massive product demand due to substantial increase in
spending on a range of ready-to-eat & processed food products will further support
the segment growth.
Packaging Equipment Market
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