Globally, the demand for packaging various products such as food, beverage, personal care and other products exist in the international market. The market for packaging equipment is getting increasingly high as the demand for packaging requirements are increasing with the shipment of the products, whether domestically or internationally to other countries.
Several predictions have been made for the global market trend on the packaging industry as a whole, from its machinery to materials. The forecast period from 2021 to 2025 reveals that the global packaging market will grow by $170.6 billion, with a projected growth of 4% CAGR. Top importing and exporting countries are listed below, along with top countries’ trade values. The shown datasets are segregated into two categories – machinery used and material utilized.
Packaging Machinery Imports and Exports
The top importing countries for packaging machinery are listed below in the shown import-export data with their corresponding trade values. Product’s HS-Code classification is on the basis of Subheading 842230 to represent the import-export countries and top country’s data.
During the pandemic of COVID-19, these countries imported and exported the highest values of packaging machinery – the USA as the highest importing country and Germany as the exporting, with the highest import and export values of $1.41 billion and $2.87 billion respectively. Look at the figures of other countries to determine the highest potential markets for packaging machinery.
As we can see in the data above, the USA is the highest importing country for packaging machinery. Shown below is the USA import data, featuring monthly trade values of packaging machinery imports for 2021. The shown data is retrieved from Market Inside’s trade intelligence 2021 and shows the share value of the product in overall imports for the same period.
As seen above, Germany is the highest exporting country for packaging machinery in 2020. Represented below is Germany export data retrieved from Market Inside’s world trade database, for the period from January 2020 to September 2021. The shown dataset features Germany’s packaging machinery’s exports for the mentioned period on a quarterly basis.
Plastic Films/Sheets Importing and Exporting Countries
The material used in packaging food products, personal care products and others is plastic, which is most commonly used. Shown import-export data 2020 features top importing and exporting countries for the imports and exports of plastic sheets/films and other formats, combined with the HS-Code classification for the product in Heading 3921.
The top importing countries for plastic sheets & films are Germany at the top and China at second position with import values of $3.4 billion $2.9 billion respectively. On the other hand, the top exporting countries for plastic sheets & films are the USA at the top, followed by Germany at the second place with export values of $2.5 billion and $1.8 billion respectively.
According to a 2019 study from Smithers, the global packaging market will grow with surges of 2.8%, reaching $1.05 trillion in 2024. This study was conducted before the COVID-19 pandemic, implying that growth values might be more than what was forecasted in Smithers’s study. As per our trade data experts, the rising demand for plastic in Germany shows the packaging demand rising, however, the downfall in machinery trade in the US indicates otherwise.