PACKAGING PROTECTS BOTH PRODUCTS AND BUSINESS
In 2018 total value of the global packaging industry is expected to reach USD 876 billion, with constant growth driving this value past $1 trillion in 2023. Meanwhile, global packaging machinery market is forecasted to grow at a CAGR of 5.15% during the period 2018-2022.
Asia Pacific held 36% of the market share of packaging machinery in 2017 and will likely sustain the largest market position in the future as a large number of food and drink and personal care manufacturers operate in this region. Asia Pacific is also expected to have the highest growth rate in the near future with its growing economy and higher demand.
Packaging machinery and technology is key for manufacturers looking to increase profits and respond to consumer demands and trends. Don’t miss our dedicated zone in ProPak Asia: PackagingTechAsia, a complete showcase on packaging solutions for the food and drink industry featuring key international suppliers from around the world.