Food Packaging Equipment Market Demand and Growth Opportunities Detailed Analysis Report
Posted on Sep 21 2022 7:31 AM
"Food Packaging Equipment Market Size, Share & 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 "
According to the latest report, titled “Food Packaging Equipment Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast’ the India facility management market is expected to exhibit a Huge CAGR during the Forecast Period. The global food packaging equipment market size was valued at USD 17.43 Billion in 2019 and is projected to reach USD 23.03 Billion by 2027, exhibiting a CAGR of 3.6% during the forecast period
This COVID-19 analysis of the report includes COVID-19 IMPACT on the production and, demand, supply chain. This report provides a detailed historical analysis of the global Food Packaging Equipment Market by region/country and subsectors. The report covers the revenue, sales volume, price, historical growth, and future perspectives in the Food Packaging Equipment Market.
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A few top players in the industry are-
- OPTIMA Packaging Group GmbH (Schwaebisch Hall, Germany)
- ARPAC LLC. (Illinois, U.S)
- GEA Group Aktiengesellschaft (Düsseldorf, Germany)
- Tetra Pak International S.A. (Pully, Switzerland)
- I.M.A. INDUSTRIA MACCHINE AUTOMATICHE S.P.A. (Bologna, Italy)
- Coesia S.p.A. (Bologna, Italy)
- Illinois Tool Works Inc. (Illinois, U.S)
- Robert Bosch Packaging Technology GmbH (Waiblingen, Germany)
- Krones AG (Neutraubling,Germany)
- MULTIVAC (Wolfertschwenden, Germany)
The report gives a precise view of the future perspective and present market demands. The report also includes facts and statistics, tables & figures referred to in this report for strategic planning which leads to the success of the organizations. In this market report, the market share that various manufacturers hold in the global Food Packaging Equipment Market and the market concentration is described in the report.
On the basis of Geography, the Global Food Packaging Equipment Market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America is expected to hold a considerable share in the global Food Packaging Equipment Market. Due to increasing investment for research and development process and adoption of solutions in the region whereas Asia-Pacific is expected to grow at a faster pace during the forecasted period.
The growing number of Food Packaging Equipment Market players across regions is expected to drive market growth further. Moreover, increasing investments by prominent vendors in product capabilities and business expansion is expected to fuel the market during the study period. Many market players are finding lucrative opportunities in emerging economies like China and India, where the large populations are coupled with new innovations in numerous industries.
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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.
An overview of the Food Packaging Equipment Market’s regional outlook:
The market is divided into five regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa (MEA). North America is further subdivided into countries such as the United States and Canada. The Europe region is further divided into the United Kingdom, France, Germany, Italy, Spain, Russia, and the Rest of Europe. China, Japan, South Korea, India, Australia, South East Asia, and the rest of Asia Pacific are subdivided into Asia Pacific. The Latin America region is separated into Brazil, Mexico, and the rest of Latin America, whereas the MEA region is divided into GCC, Turkey, South Africa, and the rest of MEA.
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 & 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.
- What is the driving factor for the growth of the Food Packaging Equipment Market?
- How will the COVID-19 pandemic impact the demand and consumption of the Food Packaging Equipment Market?
- What is the major application area of the Food Packaging Equipment Market?
- Who are the Food Packaging Equipment Market manufacturers across the globe?
- Which geographical location is dominant in the Food Packaging Equipment Market?
- Which are the top industry players in the Food Packaging Equipment Market?
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