World demand for packaging machinery to reach $41.8 billion in 2017
Growth in worldwide demand for packaging machinery is expected to climb at a 4.6% annual pace through 2017 to $41.8 billion. An improved business climate -- which will be reflected in expanding fixed investment spending, manufacturing output, and packaging demand -- will drive increases in equipment sales through 2017. These and other trends are presented in World Packaging Machinery, a new study from The Freedonia Group, Inc. (www.freedoniagroup.com), a Cleveland-based industry market research firm.
Machines used in the packaging of chemicals, pharmaceuticals, and personal care products will post the fastest sales gains in percentage terms. Purchases of packaged pharmaceuticals and consumer goods -- and associated equipment demand -- will be boosted by rising living standards in developing nations. Food manufacturing will remain the largest market for packaging equipment, accounting for about 40% of total sales.