Food Packaging is a method based on the technological devices used for preserving food and raw materials, easily distributed, avoid contamination and to identify the brand and the types of food. The packaging of food gives attention to the quality and health criteria of any living person. The food packaging equipment & technology market has tremendous race due to the presence of extremely large and small-scale industries.
The food packaging is performed based on functional properties including avoiding contamination, protection of food, communication during distributing and traveling, to follow environmental and safety rules. In the modern world, people are not purchasing food if they are not well packed. Adoption of effective and modern packaging technology is an important factor for the improvement in the production of fancy and unusual shaped products with preserved quality as well as has automated the process to overcome the labor cost.
Food Packaging Technology and Equipment MarketReport (2018-2023)
Global Food Packaging Technology Market was worth $55.57 billion in 2018 and expected to be rising at a CAGR of 9.1%, to touch $ 85.89 billion in 2023 & Global Food Packaging Equipment Market was worth $14.74 billion in 2018 and estimated to be expanding at a CAGR of 5.9%, to touch $ 19.63 billion by 2023.
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Food Packaging Technology and Equipment MarketSegmentation
Food quality viable and increasing shelf life is the two major factors for the growth of Food Packaging Technology & Equipment Market. The increase in earnings of the middle class and spending capability, Expansions & investments, increase in population, new commodity launches, the market for FMCG commodities for daily application, joint ventures, partnerships and agreements, were some of the foremost strategies adopted by the market professionals to achieve growth in the market. Wasted labor cost, improved production rate has placed the manufacturers in a position to give competition and boost the profits of the company. A high capital expenditure for the machinery is controlling the growth of the food packaging technology & equipment market to some extent.
Food packaging requires various processes, types of equipment, and applications. It is categorized by Technology, by Equipment, by Application, and by region. Food Packaging Technology Market, by Type it is classified into Controlled packaging, Advanced packaging, Aseptic packaging, Active packaging, Intelligent packaging, and others. Food Packaging Equipment Market, by Type it is divided into Form, fill and seal, Labelling & coding, Case packing, Wrapping, and Other machinery. Based on Application, the market is classified into Dairy products, Poultry, Bakery & confectionery, seafood & meat products, Convenience foods, Fruits & vegetables, and others.
Geographically, the market is separated into North America, Europe, Latin America, Asia-Pacific and the Middle East and Africa. Asia Pacific is one of the active growing markets for food packaging technology & equipment because of the rise in demand for treated food products in developing countries such as India, Thailand, China, and Indonesia. In 2016, North America is the highest market over the globe. In North America, the U.S. is anticipated to be the largest market for food processing equipment mainly due to growing awareness regarding new food products, increasing investment on research over food processing equipment, and development growing economy. Europe has the largest market after North America.
Top companies in this Food Packaging Technology and Equipment market are Arpac LLC, Ishida, Bosch packaging technology, GEA Group, Coesia Group, Multivac, Inc., IMA Group, Omori Machinery Co. Ltd., Nichrome India Ltd, Oystar Holding GmbH., Nichimo Company Limited, Satake Corporation, Meyer Industries Incorporated, Odenberg Engineering, and NordischerMaschinenbauRudBaader.
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