The Global report on “Food Packaging Technology and Equipment Market” delivering key insights and providing a competitive advantage to clients through a detailed report. The report also details the information about the global market status, growth rate, future trends, market drivers, challenges, opportunities and porter’s forces analysis with respect to these elements. An exclusive data offered in this report is collected by research and industry experts team.
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“The food packaging technology market is projected to grow at a CAGR of 6.92% and the food packaging equipment market is projected to grow at a CAGR of 6.46%.”
The food packaging technology market is estimated at USD 41.36 billion in 2018 and is projected to grow at a CAGR of 6.92%, to reach USD 57.80 billion by 2023. The food packaging equipment market is estimated at USD 19.72 billion in 2018 and is projected to reach USD 26.96 billion by 2023, at a CAGR of 6.46% during the forecast period. The market is driven by factors such as high demand for hygienic food packaging, coupled with rising consumption of fresh and high-quality food. Furthermore, the globalization of business and growth of food trade have led to an increased demand for food products with increased shelf life, which in turn increases the demand for packaging technologies such as aseptic, controlled, intelligent, and active. The high cost of development and installation and stringent government regulations are restraining the market growth.
“The biodegradable technology type segment is projected to grow at the highest CAGR during the forecast period.”
Based on type, the biodegradable segment is projected to grow at the highest CAGR during the forecast period in the food packaging technology market. The demand for biodegradable packaging technology is expected to grow rapidly, as the extensive use of plastic as a packaging material has led to increased environmental concerns, as it is not easily decomposable. Various governments have laid down stringent regulations regarding the use of plastic and other non-decomposable packaging materials.
“The filling & dosing segment of the food packaging equipment market is projected to grow at the highest CAGR during the forecast period.”
Based on type, the filling & dosing segment of the food packaging equipment market is projected to grow at the highest CAGR during the forecast period. The increased demand for portion packaging is expected to increase the demand for filling & dosing machines, as they provide efficient need-based packaging and help in optimizing the packaging process.
“The bakery products segment in the food packaging technology and equipment markets is projected to grow at the highest CAGR during the forecast period.”
Based on application, the bakery products segment in the food packaging technology and equipment market is projected to grow at the highest CAGR during the forecast period. Increasing globalization of business is expected to increase the demand for food packaging technology and equipment markets as they help in retaining the texture, taste, and quality of the bakery products.
“Asia Pacific is projected to be the fastest-growing food packaging technology and equipment market during the forecast period.”
The Asia Pacific region witnessed the fastest growth in the food packaging technology & equipment market; one of the key factors being the rapid economic growth. Countries studied in this region include India, China, Japan, Australia, New Zealand, and South Korea. Key factors such as industrialization, growing middle-class population, rising disposable income, changing lifestyles, and the rising consumption of packed products are expected to drive the demand for food packaging technology & equipment during the forecast period.
The global food packaging technology and equipment market is segmented region-wise, with a detailed analysis of each region by studying the key markets. These regions include North America, Europe, Asia Pacific, and the Rest of the World (RoW).
Break-up of Primaries:
- By Company Type: Tier 1 -40%, Tier 2 -40%,and Tier 3 -20%
- By Designation: C Level -40%, D Level -20%, and Manager Level-40%
- By Region: North America -20%, Europe -20%, Asia Pacific-40%, and RoW -20%
Leading players profiled in this report:
- 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)
- Lindquist Machine Corporation (US)
Research Coverage:
The report segments the food packaging technology and equipment market based on technology (type, material, application, and region) and equipment (type, application, and region). In terms of insights, this research report has focused on various levels of analyses—competitive landscape, end-use analysis, and company profiles—which together comprise and discuss the basic views on the emerging & high-growth segments of the food packaging technology and equipment market, high-growth regions, countries, government initiatives, drivers, restraints, opportunities, and challenges.
Reasons to buy this report:
- To get a comprehensive overview of the food packaging technology and equipment market
- To gain wide-ranging information about the top players in this industry, their product portfolios, and key strategies adopted by them
- To gain insights about the major countries/regions in which the food packaging technology and equipment market is flourishing
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