Demand for packaging is set for a major increase if the latest statistics on the market for packaging machinery is anything to go by.
Whether it’s plastic or paper carrier bags, pouches or cotton carrier bags, the variety and demand for packaging has never been higher than it is today. This has helped to drive growth in packaging machinery which according to the latest research is set to grow globally by 4.9% a year for the next three years.
According to a study by the packing machinery industry, the packaging machine industry will be worth 40.3 billion by 2018. Most of this growth will come from Asia, Africa and Oceania which will see a 7.1% increase in demand, compared to 3% growth in the EU.
Industry sectors seeing the biggest increase in demand for packaging are cosmetics (6.6%), chemicals (5.4%) and food packaging which is expected to grow by 5.2%. The latter continues to account for more than 30% of packaging demand next to beverages at 31.5%.
In terms of machine types wrapping machines will see the biggest growth in the next 3 years (+5.6%), followed by filling machines (+5.2%) and labelling machines (+5.0%).
These figures make encouraging reading for the packaging industry overall.