Global packaging machinery market projected to reach US$40 Billion in 2012: report
The global packaging machinery market is projected to reach US$40.3 billion by 2012, according to a new report by m...
April 21, 2008 by Canadian Plastics
The global packaging machinery market is projected to reach US$40.3 billion by 2012, according to a new report by market research firm Global Industry Analysts Inc.
The “Packaging Machinery: A Global Strategic Business Report” presents market analysis for major geographic markets such as United States, Japan, France, Germany, the UK, Italy, Spain, Asia, Latin America and the Middle East.
“Growth in the packaging of consumer goods, pharmaceuticals and cosmetic products is expected to be robust due to the aging population in industrialized countries and increasing affluence of developing economies in Eastern Europe, Asia-Pacific and Latin America,” the report said.
The report estimates the current European market for packaging machinery at US$12.7 billion; the United States and Europe collectively account for nearly 60 per cent of the global packaging machinery market.
The report also noted that value-added packaging is the most predominant global market trend that is driving demand for new and efficient machinery. “The advent of new technologies, development of complex packaging materials, trends in food consumption and preparation, and design, shape, reusability, size and convenience of packages have a profound impact on the structure and performance of the machinery market,” the report said. “Integration, automation, standardization, environmental safety, versatility, shorter turnaround times and faster changeover continue to be the key growth drivers in the global packaging machinery market.”
For more information about the report, visit http://www.strategyr.com/Packaging_Machinery_Market_Report.asp