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Feb 05, 2021 (The Expresswire) —
The global food packaging equipment market size is projected to reach USD 23.03 Billion by 2027, exhibiting a CAGR of 3.6% during the forecast period. Integration of automation tools with food packaging processes will accelerate the expansion of this market, observes Fortune Business Insights™ in its report, titled “Food Packaging Equipment Market Size, Share and COVID-19 Impact Analysis, By Equipment Type (Filling, Bottling, Case Cartoning, Labeling and Palletizing), By Application (Bakery and Confectionery Products, Meat and Poultry Products, Dairy Products, Beverages and Others) and Regional Forecast, 2020-2027”. Deployment of Internet of Things (IoT) by food packaging companies has raised the food safety quotient considerably in recent years. For instance, many companies are utilizing the Automated Hazard Analysis and Critical Control Points (HACCP) checklists throughout the manufacturing, production, and transport processes to gather consistent data and put in place appropriate safety norms. Similarly, manufacturers are adopting Radio Frequency Identification (RFID) technology to effectively monitor the distribution and supply chain as well as ensure proper warehousing practices. Together, smart technologies are furthering the progress of the food packaging machinery market.
Objectives of the Report
- A comprehensive overview of the market, focusing on aspects such as growth drivers, restraints, challenges, and opportunities.
- Market segmentation in detail, key industrial developments, and future opportunities in the market.
- List of key market vendors and strategies adopted by them, such as mergers and acquisitions, company collaborations, product launches, machinery upgrades, contracts, and others.
- Other food packaging equipment market trends.
To gain more insights into the market with a detailed table of content and figures, click here –https://www.fortunebusinessinsights.com/industry-reports/food-packaging-equipment-market-101803
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
Some of the key food packaging equipment market manufacturers include –
- OPTIMA packaging group GmbH
- ARPAC LLC.
- GEA Group Aktiengesellschaft
- Tetra Pak International S.A.
- M.A. INDUSTRIA MACCHINE AUTOMATICHE S.P.A.
- Coesia S.p.A.
- Illinois Tool Works Inc.
- Robert Bosch Packaging Technology GmbH
- Krones AG
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Sustainable Packaging Solutions to be the New Growth Strategy for Key Players
Competitors in the food packaging technology and equipment market are increasingly focusing on designing, developing, and launching sustainable packaging offerings to reduce the carbon footprint of this industry. As a result, players are ramping up investments in RandD to come up with path-breaking innovations and facilitate the progress of the global market.
Wide range of Product Offerings to Intensify Market Competition
Currently, the food packaging equipment market is enjoying major dominance by top players such as Tetra Pak. IMA Group, Multivac Group, and IMA Group. This is attributable to the wide range of product offerings that enhance food packaging equipment market growth. The aforementioned players are focusing on offering cost-effective materials utilized in the goo packaging machinery, such as recyclable packages.
Key industry developments in the food packaging equipment market include:
- February 2020: MULTIVAC showcased its novel vacuum skin packaging solutions for prolonging the shelf-life of fish and other seafood at the Seafood Expo Global in Brussels. Besides this, the company will also be launching its concept sustainable packaging products to meet the recycling parameters for such solutions.
- March 2019: Bosch introduced the Pack 403, the first machine of its kind of flow wrappers in the Asian and European markets. The machine is a 100% automated, horizontal flow wrapper with narrow dimensions, perfectly suited for packaging biscuits, bars, crackers, cookies, and chocolates. Asia Pacific to Dominate Market with Rising Popularity for Packaged Food
As per geographical segmentation, the highest food packaging equipment market share from Asia Pacific. This is attributable to high investments made by food packaging companies for expanding their portfolio all over the region. Besides this, the rise in middle-class population and increasing disposable incomes of people in nations such as Japan, China, and India are likely to result in increased demand for packaged food. Furthermore, the rapid growth of the food processing industry is anticipated to reach USD 543.0 billion by 2020, and this will create lucrative growth opportunities for the future food packaging equipment market growth.
The report states that the global market value stood at USD 17.43 billion in 2019. It also offers the following:
- Quantitative and qualitative analysis of the current market trends and drivers;
- In-depth examination of the market restraints;
- Detailed assessment of all the possible market segments; and
- Comprehensive study of the regional and competitive dynamics of the market.
Rising Pollution Levels from Food Packaging to Challenge Market Growth
The materials used for food packaging processes, mainly plastic derivatives, are designed for single-use purposes. Their high popularity is based on the fact that they lengthen the shelf-life of the packaged item. However, these materials are also responsible for elevating pollution levels in the environment. For example, during its 2018 annual beach cleanup, the US-based environmental advocacy group, Ocean Conservancy, found food packaging to be the second most common trash item littered around the beaches across the country. This finding is further bolstered by the US Environment Protection Agency’s (EPA) revelation that food packaging materials constitute roughly half of the total municipal solid waste in the country. Moreover, the retrieved materials are scarcely recycled. The EPA, for instance, reported that in 2014, 63% of the 258 million tons of municipal waste was of packaging materials and out of this only 35% was recycled or composted. Environmental concerns associated with the packaging industry may obstruct the food packaging equipment market growth.
Strong Government Backing to Food Packaging Industry to Fuel the Asia Pacific Market
Asia Pacific, where the market size stood at USD 5.72 billion in 2019, is expected to occupy a commanding market position during the forecast period as governments across the region are providing strong policy and financial support to the food processing and packaging industry. For instance, India’s National Investment Promotion and Facilitation Agency expects the processed food industry will attract investments worth USD 33 billion by 2024.
In Europe, the market is anticipated to showcase lucrative growth as manufacturers in Europe are increasingly adopting advanced food packaging equipment to comply with the stringent food safety standards framed by the European Union (EU). On the other hand, the market in North America is predicted to grow steadily on account of high demand for ready-to-eat convenience foods across the region.
- By Equipment Type
- Case Cartoning
- By Application
- Bakery and Confectionery Products
- Meat and Poultry Products
- Dairy Products
- Others (Grains, Fruits, Nuts and Vegetables, etc.)
- By Region
- North America (the U.S. and Canada)
- Europe (U.K., Germany, France, Italy and Rest of Europe)
- Asia Pacific (Japan, China, India, Southeast Asia, and Rest of Asia Pacific)
- Middle East and Africa (South Africa, GCC and Rest of Middle East and Africa)
- Latin America (Brazil, Mexico, and Rest of Latin America)
Major Table of Contents
1.1.Definition, By Segment
3.1.Drivers, Restraints and Opportunities
4.1.Macro and Micro Economic Indicators
4.2.Consolidated SWOT Analysis of Key Players
4.3.Porter’s Five Forces Analysis
5.Global Food Packaging Equipment Market Analysis, Insights and Forecast, 2015-2026
5.1.Key Findings / Summary
5.2.Market Sizing Estimations and Forecasts By Equipment Type (Value)
5.3.Market Sizing Estimations and Forecasts By Application (Value)
5.3.1.Bakery and Confectionery Products
5.3.2.Meat and Poultry Products
5.3.5.Others (Grains, Fruits, Nuts and Vegetables, etc.)
5.4.Market Analysis, Insights and Forecast By Region (Value)
5.4.4.Middle East and Africa
6.North America Food Packaging Equipment Market Analysis, Insights and Forecast, 2015-2026
6.1.Key Findings / Summary
6.2.Market Sizing Estimations and Forecasts By Equipment Type (Value)
6.3.Market Sizing Estimations and Forecasts By Application (Value)
6.3.1.Bakery and Confectionery Products
6.3.2.Meat and Poultry Products
6.3.5.Others (Grains, Fruits, Nuts and Vegetables, etc.)
6.4.Market Analysis, Insights and Forecast By Country (Value)
7.Europe Food Packaging Equipment Market Analysis, Insights and Forecast, 2015-2026
7.1.Key Findings / Summary
7.2.Market Sizing Estimations and Forecasts By Equipment Type (Value)
7.3.Market Sizing Estimations and Forecasts By Application (Value)
7.3.1.Bakery and Confectionery Products
7.3.2.Meat and Poultry Products
7.3.5.Others (Grains, Fruits, Nuts and Vegetables, etc.)
7.4.Market Analysis, Insights and Forecast By Country (Value)
7.4.5.Rest of Europe
8.Asia Pacific Food Packaging Equipment Market Analysis, Insights and Forecast, 2015-2026
8.1.Key Findings / Summary
8.2.Market Sizing Estimations and Forecasts By Equipment Type (Value)
8.3.Market Sizing Estimations and Forecasts By Application (Value)
8.3.1.Bakery and Confectionery Products
8.3.2.Meat and Poultry Products
8.3.5.Others (Grains, Fruits, Nuts and Vegetables, etc.)
8.4.Market Analysis, Insights and Forecast By Country (Value)
8.4.5.Rest of Asia Pacific
Purchase Full Report for Exclusive Food Packaging Equipment Market Growth Forecast –https://www.fortunebusinessinsights.com/checkout-page/101803
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Press Release Distributed by The Express Wire
To view the original version on The Express Wire visit Food Packaging Equipment Market Sales and Revenue by Companies, Regions, Type and Application till 2027
The MarketWatch News Department was not involved in the creation of this content.