Food Packaging Equipment Market Poised to Achieve $25.37 Billion
The food packaging equipment market is expected to grow at a CAGR of 6% from 2022 to reach $25.37 billion by 2029.
Meticulous Research® - a leading market research company, published a research report titled “Food Packaging Equipment Market by Type (Form-fill-seal Equipment, Cartoning Equipment, Filling & Dosing Equipment, Wrapping & Bundling Equipment, Case Packing Equipment), Application, and Geography - Global Forecasts to 2029”.
The Food Packaging Equipment Market is poised for substantial growth, with an anticipated CAGR of 6% from 2022, projecting to reach $25.37 billion by 2029. In terms of volume, the market is expected to expand at a CAGR of 8% during the same period, reaching 12,131.3 thousand units by 2029. This growth is primarily driven by the increasing integration of automated technologies, machinery flexibility, and the rising demand for hygienic food packaging. Additionally, food manufacturers are increasingly inclined towards using efficient packaging products.
Emerging economies experiencing a surge in the packaged food industry and the use of packaging as a tool for product differentiation present significant growth opportunities for market players. However, challenges persist, including the high cost of advanced packaging solutions and stringent environmental regulations. Recycling complexities of multilayer films and a scarcity of skilled personnel further impede market growth.
The global food packaging equipment market is segmented based on type, application, and geography, with an in-depth analysis of industry competitors and country-level market assessment. The types of equipment include form-fill-seal, cartoning, filling & dosing, wrapping & bundling, case packing, labeling & coding, inspecting, detecting, and checking weighing machines, among others.
In 2022, form-fill-seal equipment is expected to dominate the market, particularly due to the speed and versatility it offers, streamlining packaging processes. This segment includes both vertical and horizontal form-fill-seal equipment, with the former accounting for a larger share due to its suitability for automated assembly-line packaging systems.
Application-wise, segments such as meat, poultry, and seafood are anticipated to hold significant market shares, driven by increased consumption of processed and frozen products. Geographically, Asia-Pacific is expected to lead the market, owing to rising packaged food applications and a high concentration of local packaging equipment manufacturers.
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The key players profiled in the food packaging equipment market are Syntegon Technology GmbH (Germany), Coesia S.P.A (Italy), GEA Group Aktiengesellschaft (Germany), MULTIVAC Group (Germany), IMA Group (U.S.), Krones AG (Germany), Tetra Laval Group (Switzerland), OPTIMA Packaging Group GmbH (Germany), ARPAC LLC (U.S.), Ishida Co. Ltd (Japan), Omori Machinery Co. Ltd. (Japan), and TNA Solutions Pty Ltd. (Australia).
Key Questions Answered in the Report:
• Which are the high-growth market segments in terms of type, application, and geography?
• What is the historical market size for global food packaging equipment across the globe?
• What are the market forecasts and estimates for the period 2022–2029?
• What are the major drivers, restraints, opportunities, and challenges in the global food packaging equipment market?
• Who are the major players in the market, and what are their market shares?
• How is the competitive landscape for the global food packaging equipment market?
• What are the recent developments in the global food packaging equipment market?
• What are the different strategies adopted by the major players in the market?
• What are the key geographic trends, and which are the high-growth countries?
• Who are the local emerging players in the global food packaging equipment market, and how do they compete with other players?
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