Food Packaging Technology and Equipment Market Size Worth To Reach USD 76.56 Billion By 2028
October 13, 2021
Reports And Data
Major driving factors include Technological innovations, food & beverages demand, avoiding time-lag, receptive to the consumers changing demand, busy lifestyle.NEW YORK, NY, UNITED STATES, October 13, 2021 /EINPresswire.com/ -- Increased time period and food quality sustainability are the two essential benefits of food packaging, which points towards the rising demand for food packaging technology & equipment. Continuous development in packaging designs, standards, and raw materials concerning the environment by the manufacturers is one of the key factors promoting the market growth. However, the high initial investment for food packaging equipment is anticipated to restrain the growth of the world food packaging technology & equipment market to some extent. Since the beverage end-use segment is anticipated to account for the largest share of the packaging machinery market, organizations are increasing their production capacities to manufacture coffee capsule packaging machines. Sachet packaging systems are growing popularity within the marketplace for packaging machinery. Companies are increasing the provision of end-to-end automated packaging solutions using vertical form-fill-seal technology. On the idea of this technology, companies within the marketplace for packaging machinery are making it possible to group and package sachets in a tamper-evident carton.
The current analysis of Reports and Data, the global Food Packaging Technology and Equipment market size was valued at USD 46.76 Billion in 2020 and is expected to reach USD 76.56 Billion by the year 2028, at a CAGR of 6.3%. There’s a growing demand for food packaging technology in the marketplace for packaging machinery. Companies are increasing research to initiate versatility in these novel filling & dosing machines. Technological innovations are likely to spice up market growth. However, challenges of floor space and the accuracy of devices act as a barrier for packaging companies, especially within the pharmaceutical landscape. Hence, companies are introducing new liquid unit-dosing cup machines that ensure efficiency in packaging without cutting on the floor space. Food packaging technologies and equipment play an essential role attributable to its immediate contact with various food products and its direct consumption. Henceforth the packaging process includes multiple technologies for packaging, packaging equipment, and multiple applications. The technology segment for the global food packaging technology & equipment market is segmented into aseptic packaging, active packaging, advanced, intelligent packaging, and controlled technologies. Supported equipment, the market is categorized as case packaging, coding, form-fill-seal, and labeling.
The APAC segment in the food packaging technology & equipment market is predicted to grow at a rapid rate due to rising demand for processed food products in emerging countries like China, India, Thailand, and Indonesia. In North America market, the US market is anticipated to carry comparatively higher market share for food processing technology & equipment because of rising awareness regarding consumption of healthy food products, stringent regulations regarding the hygiene of the food, growing investment on R&D over food processing equipment, and continuous developments in technology.
Some of the key market players are:
Robert Bosch(Germany), GEA Group (Germany), IMA Group (Italy), COESIA Group (Italy), Ishida (Japan), ARPAC (US), Multivac (Germany), Omori Machinery Company (Japan), Nichrome India (India), Adelphi Group (UK), Kaufman Engineered Systems (US), and Lindquist Machine Corporation (US)
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Segments covered in the report:
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2019 to 2028. For the purpose of this study, Reports and Data have segmented Food packaging Technology and Equipment market on the type, material and region:
On the basis of type, the food packaging technology market has been segmented as follows:
Others (edible and nano-enabled technology)
On the basis of material, the food packaging technology market has been segmented as follows:
Glass & wood
Paper & paperboard
Others (polysaccharides, proteins, and lipids)
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On the basis of application, the food packaging technology market has been segmented as follows:
Dairy & dairy products
Poultry, seafood, and meat products
Fruits & vegetables
Others (sauces & dressings and condiments)
Regional Outlook (Volume Metric Tons, Revenue, USD Million; 2020-2028)
Middle East & Africa
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Further key findings from the report suggest:
Food packaging is an important source of competitive advantage for retailers and product manufacturers.
Packaging technology can be of strategic importance to a company, as it can be a key to competitive advantage in the food industry.
This may be achieved by catering to the needs and wants of the end user, opening up new distribution channels, providing a better quality of presentation, enabling lower costs, increasing margins, enhancing product/brand differentiation, and improving the logistics service to customers.
The business drive to reduce costs in the supply chain must be carefully balanced against the fundamental technical requirements for food safety and product integrity.
The role of the market and the supply chain has increasing significance in the area of packaging innovation and design.
The report emphasizes the following key questions:
Q.1. What are the most lucrative and promising growth prospects for the market?
Q.2. Which sectors are expected to deliver a high growth rate and which industry aspects come into play in this advancement?
Q.3. Which geographies are estimated to exhibit the highest growth and the underlying causes?
Q.4. Which factors are impacting the future of the market and what are the driving factors?
Q.5. What are the hurdles and challenges curtailing the industry’s growth in the forecast period?
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