Asia Pacific was the largest market for packaging machinery at 36.3 percent ($13.4 billion) of global revenues in 2016. This market is forecast to grow at a compound annual growth rate (CAGR) of 3.0 percent to $15.5 billion in 2021.
Europe, the Middle East and Africa (EMEA) was the second largest packaging machinery market in 2016, accounting for 33.2 percent ($12.2 billion). The EMEA market is forecast to grow at a CAGR of 2.9 percent to $14.9 billion in 2021.
The smallest market for packaging machinery in 2016 was the Americas, accounting for 30.5 percent ($11.2 billion) of global revenues. It is forecast to grow at a CAGR of 2.4 percent to $12.6 billion in 2021.
The two largest sub-regional markets in 2016 were:
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