Newark, Sept. 19, 2022 (GLOBE NEWSWIRE) – According to the report published by The Brainy Insights, the global food packaging equipment and technology market is expected to grow from $46.99 billion in 2021 to $83.52 billion by 2030, at an annual growth rate. Composite of 6.60% over the forecast period 2022-2030.
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The increasing demand for fresh and high quality food products is expected to expand the demand for food packaging technology and equipment industry during the projection period. Moreover, the increasing demand for ready-to-eat food products and the increasing integration of automation technologies and machine flexibility are also helping to drive the growth of the market. However, strict food safety legislation and the high cost of developing and installing equipment in developing countries restrict market growth. Moreover, the emergence of packaging as a tool for product differentiation and the adoption of efficient and advanced packaging technologies present opportunities for market growth.
To consolidate its market position in the global food packaging equipment and technology market, the major players are now focusing on adopting strategies such as product innovations, mergers and acquisitions, recent developments, joint ventures, collaborations and partnerships.
Report coverage and details:
|Market size in 2021||46.99 billion US dollars|
|Market size in 2031||83.52 billion US dollars|
|compound annual growth rate||6.60%|
|Number of pages in the report||220|
|covered slices||Material, type, application, areas|
|drivers||Growing awareness about the consumption of healthy foods|
|chances||Adopting advanced and efficient packaging techniques|
|limitations||High Cost Progressive Food Packaging Solution|
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Market growth and trends
The growth of the food packaging technology and equipment market is driven by the growth in packaging as a tool for product differentiation and increasing consumer preference for packaged foods. Moreover, the increasing demand for smart packaging solutions is the growth trend of the market. Growing industrialization along with strong demand for superior logistics and supply chain management, rise in living standards, and strict food safety regulations are also helping to drive market growth. Moreover, smart packaging is the latest technology in the packaging sector. This technology is growing faster in the food sector, with huge potential to improve customer convenience. In addition, the increasing trend towards online shopping for groceries, protein-rich packaged meats, seafood and poultry is helping to drive the growth of the market. The increase in purchasing power, rising household income, and growing middle-class population all boost the growth of the market during the forecast period.
• In 2021, the plastic sector dominated the market with the largest market share of 27.15% and market revenue of 12.75 billion.
The material department is divided into paper, paperboard, glass, wood, metal, plastic, etc. In 2021, the plastic segment dominated the market with the largest market share of 27.15% and market revenue of 12.75 billion. This growth is attributed to their low cost, flexibility and ease of availability. Moreover, by 2030, the paper and paperboard segment is likely to dominate the market due to the widespread adoption of paper packaging products by food manufacturers.
• In 2021, the biodegradable materials segment dominated the market with the largest market share of 22.34% and market revenue of 10.49 billion.
The type section is divided into intelligent, controlled, biodegradable, active, sterile, and others. In 2021, the biodegradable materials segment dominated the market with the largest market share of 22.34% and market revenue of 10.49 billion. This growth is attributed to the growing awareness of the eco-friendly environment.
• In 2021, the poultry, seafood and meat products sector dominated the market with the largest market share of 21.13% and market revenue of 9.92 billion.
Applications section is divided into confectionery products, dairy products, poultry, seafood, meat products, bakery products, fruits and vegetables, prepared foods and others. In 2021, the Poultry, Seafood and Meat Products segment dominated the market with the largest market share of 21.13% and market revenue of 9.92 billion. This growth is attributed to the increasing consumption of processed meat products worldwide due to advances in cold chain logistics and efficient packaging solutions. Moreover, by 2030, the ready-to-eat food segment is likely to dominate the market due to the increasing customer demand for ready-to-eat food products resulting from busy lifestyles.
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Regional Segmentation of the Food Packaging Technology and Equipment Market:
• North America (USA, Canada and Mexico)
• Europe (Germany, France, UK, Italy, Spain and rest of Europe)
• Asia Pacific (China, Japan, India and Rest of Asia Pacific)
• South America (Brazil and the rest of South America)
• Middle East and Africa (UAE, South Africa, rest of the Middle East and Africa)
The Asia Pacific region constituted the largest market for food packaging technology and equipment industry, with a market share of 49.39% and a market value of about 23.20 billion in 2021. The market for food packaging technology and equipment is dominated by the Asia Pacific region due to the increased demand for manufactured food products in the countries developing. Furthermore, the increasing demand for more sustainable and biodegradable packaging solutions and the increasing investment in research and development of food processing equipment is also helping to drive the growth of the region’s market. Furthermore, the North American region is expected to show the fastest compound annual growth rate of 9.01% during the forecast period. This growth is attributed to the increased awareness of new food products. In addition, strict regulations regarding food hygiene and the strong foothold of food manufacturers are driving the growth of the market in this region.
The major players operating in the global food packaging equipment and technology market are:
• Coesia SpA
• ARPAC LLC
• Kaufmann Engineering Systems
• GEA Group AG
• Ishida Co., Ltd.
• Nikrum India Limited
• IMA . group
• Omori Machinery Co., Ltd.
• MULTIVAC . SET
• Robert Bosch GmbH
This study forecasts revenue at global, regional and country levels from 2019 to 2030. Brainy Insights has segmented the global food packaging technology and equipment market on the basis of the sectors listed below:
Global Food Packaging Equipment Market By Material:
• Paper and paperboard
• Glass and wood
Global Food Packaging Equipment Market, by Type:
• under control
Global Food Packaging Equipment Market, by Application:
• Dairy and dairy products
• Poultry, seafood and meat products
• bakery products
• Fruits vegetables
• Adequate foods
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About the report:
The global food packaging technology and equipment market is analyzed on the basis of value (US$ billion). All sectors were analyzed on a global, regional and country basis. The study includes an analysis of more than 30 countries for each sector. The report provides an in-depth analysis of the driving factors, opportunities, restraints, and challenges to gain key insight into the market. The study includes Porter’s five forces model, gravity analysis, raw materials analysis, supply, demand analysis, competitor website network analysis, distribution and marketing channels analysis.
About The Brainy Insights:
Brainy Insights is a marketing research firm, aiming to provide actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet clients’ goals of achieving high quality output within a short period of time. We provide customized (customer specific) and syndicate reports. Our repository of associative reports varies across all categories and subcategories across domains. Our customized solutions are designed to meet the requirements of clients whether they are looking to expand or planning to launch a new product in the global market.
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