The “Food Packaging Equipment Market by Equipment, Application, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2022-2031” report has been added to ResearchAndMarkets.com’s offering.
According to this report the global food packaging equipment market size was valued at $16,901.0 million in 2020, and is projected to reach $33,148.2 million by 2031, registering a CAGR of 6.3% from 2022 to 2031.
The shelf stable segment was the highest revenue contributor to the market, with $4,209.8 million in 2020, and is estimated to reach $7,106.9 million by 2031, with a CAGR of 4.8%.
The food business has the most diverse range of packaging equipment of any industry. To keep food fresh and convenient for use, food products are filled hot, cold, frozen, dried, particles, or merely liquids then vacuum sealed or packaged in bottles, boxes, bags, and cans. Filling, bagging, sealing, wrapping, bundling, cartoning, over-capping, lidding, labeling, decorating, coding, conveying, and palletizing are all done with packaging machinery. Packaging is one of the most important steps before commercialization or presentation of the finished product to industry or end-user consumers. Thus, technological advancement has resulted in the creation and invention of food packaging equipment, which has significantly contributed to the market’s development.
Consumer food choices have changed as a result of the rise in lifestyle. Demand for ready-to-eat natural and organic food products that are highly perishable has been witnessed. As a result of these factors, the packaging industry develops innovative packaging equipment &solutions for food safety and cleanliness. Thus, the food packaging equipment industry is primarily driven by hygienic packaging of food.
The increase in purchasing power, large on-the-go consumer base, and preference for online grocery ordering leads to an increase in demand for packaged food, giving food packaging equipment manufacturers more room to grow. Packaging not only enhances the shelf life of food products, however it is also utilized for decoration. Thus, packaging as a tool for product differentiation is expected to drive market growth during the forecast period.
Furthermore, rise in consumer desire for protein-rich foods leads to higher consumption of processed meat, poultry, and seafood, propelling the food packaging equipment market. Whereas in most developing countries, the high cost of developing &installing food packaging equipment, stringent food safety legislation, and energy-inefficient packaging equipment &machinery stifle market growth. Furthermore, the development of the packaged food industry in emerging economies such as China, India, Indonesia, and Brazil presents a growth opportunity for the market.
Source: Research And Markets