Global Food Packaging Equipment Market is valued approximately at USD XXXX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XXX% over the forecast period 2022-2029. Food packaging equipment is an integral part of the overall food industry. To properly distribute the product to the customer, food packaging is important. Food packaging machinery serves a variety of purposes in the food packaging industry, including wrapping, sealing, labeling, and filling. Throughout the supply chain, food product packaging ensures product stability. A large temperature range can be handled by effective food packaging. The most frequent uses for food packaging are in the areas of baking, confectionery, dairy products, poultry, meat and fish, fruits and vegetables, convenience foods, and others. Depending upon the food being packed, there are several forms of packaging. These food products are packaged using a range of food packaging equipment. The key factor driving the market growth is rising food and beverages industry, shift toward convenient food packaging, and adoption of govt. regulations for safe and hygienic packaging process to Upsurge the Market growth.
According to Statista, in 2021, the market for functional foods and drinks was worth USD 281.14 billion worldwide. Between 2021 and 2028, the market is expected to expand at a compound annual growth rate of almost 9.5 percent. Also, technological advancement and adoption of automated technology will create lucrative opportunity for the market during forecast period. However, the improper disposing of packaging material adversely affects the environment stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Food Packaging Equipment Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific is the dominating region across the world in terms of market share, owing to growing food and beverages industry and rising household disposable income in the region. North America is also anticipated to exhibit highest growth rate over the forecast period, owing to factors such as rising stringent environmental regulations and shift toward convenient food packaging.
Major market players included in this report are:
I.M.A. Industria Macchine Automatiche S.P.A.
Tetra Pak International S.A.
Robert Bosch Packaging Technology GmbH
GEA Group Aktiengesellschaft
Illinois Tool Works Inc.
OPTIMA Packaging Group GmbH
Recent Developments in the Market:
In April 2019, the launch of Tetra Pak's new connected packaging platform, which converts milk and juice cartons into interactive information channels and significant carriers, was announced.
in August 2019, MULTIVAC Group introduced a new new gen cross-web labeler with lower life cycle costs. This machine has IO-link and EtherCAT, a sensor system for food product label inspection and maintenance.
Global Food Packaging Equipment Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Equipment, Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Filling & Dosing
Wrapping & Bundling
Bakery & Confectionary
Fruits, Nuts & Vegetables
Meat, Poultry & Seafood
Rest of the World