Newark, Sept. Jan. 19, 2022 (Global News) — The global food packaging technology and equipment market is expected to grow from $46.99 billion in 2021 to $83.52 billion in 2030, at a CAGR of $83.52 billion, according to a report published by The Brainy Insights is 6.60% in the forecast period of 2022-2030.
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Rising demand for fresh and premium food is expected to expand the demand in the food packaging technology and equipment industry over the forecast period. In addition, increasing demand for ready-to-eat food and increasing integration of automation technology and mechanical flexibility are also helping to drive market growth. However, stringent food safety legislation and high equipment development and installation costs in developing countries restrain the market growth. Furthermore, the emergence of packaging as a product differentiation tool and the adoption of effective and advanced packaging technologies are opportunities for market growth.
To enhance their market position in the global food packaging technology and equipment market, key players are now focusing on adopting strategies such as product innovations, mergers and acquisitions, latest developments, joint ventures, collaborations, and partnerships.
Report scope and details:
|Market size in 2021||$46.99 billion|
|Market size in 2031||$83.52 billion|
|compound annual growth rate||6.60%|
|Do not.or a page in a report||220|
|Market segments covered||Material, Type, Application, Region|
|driver||Growing awareness of healthy food consumption|
|Chance||Employ effective and advanced packaging technology|
|constraint||High cost of advanced food packaging solutions|
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Market Growth and Trends
The growth of the food packaging technology and equipment market is driven by the growth of packaging as a tool for product differentiation and rising consumer preference for packaged foods. Furthermore, the growing demand for smart packaging solutions is a market growth trend. Rising industrialization coupled with strong demand for excellence in logistics and supply chain management, rising living standards, and stringent food safety regulations are also helping to drive market growth. In addition, smart packaging is the latest technology in the packaging field. This technology is growing even faster in the food sector and has huge potential to improve customer convenience. In addition, increasing preference for online grocery and packaged protein-rich meat, seafood, and poultry is helping drive market growth. Furthermore, increasing purchasing power, rising household income, and growing middle-class population are driving the market growth over the forecast period.
• In 2021, the plastics segment will dominate the market with the largest market share of 27.15% and a market revenue of 12.75 billion.
The material section is divided into paper and cardboard, glass and wood, metal, plastic, etc. In 2021, the plastics segment will dominate the market with the largest market share of 27.15% and a market revenue of 12.75 billion. This growth is attributed to its low cost, flexibility and ease of use. Furthermore, the paper and cardboard segment is likely to dominate the market by 2030 owing to widespread adoption of paper packaging products by food manufacturers.
• In 2021, the biodegradable segment will dominate the market with the largest market share of 22.34% and a market revenue of 10.49 billion.
Types are subdivided into intelligent, controllable, biodegradable, active, sterile, etc. In 2021, the biodegradable segment will dominate the market with the largest market share of 22.34% and a market revenue of 10.49 billion. This growth is attributed to the growing awareness of eco-friendly environment.
• In 2021, the poultry, seafood and meat products segment will dominate the market with the largest market share of 21.13% and market revenue of 9.92 billion.
Application areas are divided into confectionary products, dairy and dairy products, poultry, seafood and meat products, bakery products, fruits and vegetables, convenience foods, etc. In 2021, the poultry, seafood and meat products segment will dominate the market with the largest market share of 21.13% and market revenue of 9.92 billion. The growth is attributable to the rising consumption of processed meat products globally due to advancements in cold chain logistics and efficient packaging solutions. Furthermore, the convenience food segment is likely to dominate the market by 2030 owing to the growing demand for ready-to-eat food from customers due to busy lifestyles.
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Regional Segment Analysis of Food Packaging Technology and Equipment Market:
• North America (US, Canada, Mexico)
• Europe (Germany, France, UK, Italy, Spain, Rest of Europe)
• Asia Pacific (China, Japan, India, Rest of Asia Pacific)
• South America (Brazil and Rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)
The Asia-Pacific region has become the largest market in the global food packaging technology and equipment industry, with a market share of 49.39% and a market value of approximately US$23.2 billion in 2021. The Asia Pacific region dominates the food packaging technology and equipment market owing to the increasing demand for processed foods in developing countries. Furthermore, the growing demand for biodegradable and more sustainable packaging solutions and increasing investments in research and development of food processing equipment are also helping to drive the market growth in this region. Furthermore, North America is expected to register the fastest CAGR of 9.01% during the forecast period. This growth is attributed to increased awareness of new foods. Furthermore, stringent food hygiene regulations and strong foothold of food processing companies are driving the market growth in this region.
The key players operating in the global food packaging technology and equipment market are:
• Coesia SpA
• Arpac LLC
• Kaufman Engineering Systems
• GEA Group
• Ishida Corporation
• NICHROM India Ltd.
• IMA Group
• Omori Machinery Co., Ltd.
• MULTIVAC Group
• Robert Bosch GmbH
This study forecasts income at global, regional and country levels from 2019 to 2030. Brainy Insights has segmented the global food packaging technology and equipment market on the basis of the following segments:
Global Food Packaging Technology and Equipment Market by Material:
• Paper and cardboard
• Glass and wood
Global Food Packaging Technology and Equipment Market by Type:
Global Food Packaging Technology and Equipment Market by Application:
• Confectionary products
• Dairy and dairy products
• Poultry, seafood and meat products
• Baked Goods
• fruits and vegetables
• instant food
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About the report:
Analysis of the global food packaging technology and equipment market in terms of value (USD Billion). All segments are analyzed on a global, regional and country basis. The study includes analysis of more than 30 countries in each market segment. The report provides an in-depth analysis of drivers, opportunities, constraints and challenges to gain key insights into the market. Research content includes Porter’s Five Forces Model, Attraction Analysis, Raw Material Analysis, Supply and Demand Analysis, Competitor Positioning Grid Analysis, Distribution and Marketing Channel Analysis.
On Smart Insights:
Brainy Insights is a market research company that aims to provide companies with actionable insights through data analysis to improve their business acumen. We have powerful forecasting and estimation models that can meet our client’s goal of high-quality output in a short period of time. We offer customized (client-specific) and syndicated reports. Our joint reporting repository is diverse across all categories and subcategories. Our custom solutions meet the needs of our customers, whether they are looking to expand or planning to launch new products in global markets.
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