That’s a compound annual growth rate of 4.3%. Developing regions such as the Russian Federation, Eastern Europe, and the Middle East & Africa are expected to register the strongest growth, with annual rates of nearly 10%. Rapid developments within these regions and increasing consumer incomes mean that the populations are demanding more processed foods and beverages, and this will have a beneficial impact on the packaging machinery market.
IMS Research senior analyst and report author Tim Dawson says this: “Reducing machine downtime and maximizing the number of products that can be packaged in a single line is having a positive effect on this market as end-users purchase new machinery that is more versatile to package new products and increase productivity.”
