The global market for packaging machinery is projected to reach $52.9bn by the year 2018, according to a new report by Global Industry Analysts (GIA).
The worldwide economic uncertainty notwithstanding, the high-performance packaging machinery market continues to expand, driven by the need for better packaging solutions, the report adds.
Major growth is expected from sectors such as food & beverage, pharmaceuticals, personal care products, printers, converters, among others.
The concentrated areas are Sustainable Packaging technology/practices, Packaging Machinery Flexible Packaging Machinery, Aseptic Packaging Machinery.
BRIC economies of China, India, Brazil, and Russia will fuel growth in the future with their increasing production capacity and robust growth.
Global Industry Analysts (GIA) is a leading publisher of off-the-shelf market research founded in 1987.