Packaging Machinery Market size is growing at CAGR of 6.7% to reach $62,063 million by 2023. Packaging machinery market has witnessed increased adaptability of the factors like applications of packaging machinery in a wide range of industries across food and drink, healthcare, cosmetics, and other consumer goods as well as a range of other industrial sectors where packaging has become essential to attract the consumers from all segments of the market.

The global packaging machinery industry is segmented based on machine types, end-user industries, and geographies. Based on machine type, the packaging machinery market is classified into filling machines, FFS (form, fill and seal) machines, cartoning machines, palletizing machines, labeling machines, wrapping machines, and cleaning & sterilizing machines. Filling machines are the most dominant machine type accounting for about 37% of the overall market. Based on end-user industries, the global packaging machinery market has been classified into food & beverage, pharmaceuticals, chemicals, cosmetics, and others. The food & beverage segment dominated the packaging industry previously accounting for $24,980 million USD and is expected to grow at an average CAGR of 6.6% in the upcoming years.