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 expected to grow at a CAGR of 6% from 2022 to reach $25.37 billion by 2029. By volume, this market is expected to grow at a CAGR of 8% from 2022 to reach 12,131.3 thousand units by 2029. This market is driven by factors, such as the increasing integration of automated technologies and flexibility of machinery, the increasing demand for hygienic food packaging, and food manufacturers’ growing inclination towards using efficient food packaging products. In addition, the growth of the packaged food industry in emerging economies and the growing usage of packaging as a product differentiation tool provide significant growth opportunities for players operating in this market.
However, the high cost of advanced food packaging solutions and stringent environmental regulations hinders the growth of this market to a notable extent. Also, issues related to recycling multilayer films and lack of skilled personnel and training are major challenges for the growth of the global food packaging equipment market.
The global food packaging equipment market is segmented based on type, application, and geography. The study also evaluates industry competitors and analyses the market at the country level.
Based on type, the global food packaging equipment market is segmented into form-fill-seal equipment, cartoning equipment, filling & dosing equipment, wrapping & bundling equipment, case packing equipment, labeling & coding equipment, inspecting, detecting, and checking weighing machines, and other equipment. In 2022, the form-fill-seal equipment segment is expected to hold the largest share of the global food packaging equipment market. The large share of this segment is attributed to the greater speed and versatility provided by FFS systems for food packaging companies. FFS systems use flexible film to form the primary package, such as a bag or pouch. These systems streamline the packaging process by reducing production time and increasing versatile manufacturing.
Based on form-fill-seal equipment type, the global food packaging equipment market is segmented into vertical form-fill-seal equipment and horizontal form-fill-seal equipment. In 2022, the vertical form-fill-seal equipment segment is expected to account for the larger share of the global form-fill-seal equipment market. The large share of this segment is attributed to its flexibility to contain an automated assembly-line product packaging system. Vertical form-fill-seal machines are best suited for restrained floorspace and frequent packaging changeovers.
Based on application, the global food packaging equipment market is segmented into dairy, bakery, chocolate & confectionery, fruits & vegetables, meat, poultry & seafood, snack food, and others. The meat, poultry, and seafood segment is expected to account for the largest market share in 2022. The high growth of this segment is attributed to the rising consumption of processed and frozen meat and seafood. Moreover, the consumption of processed meat products has increased worldwide due to advancements in cold-chain logistics and efficient packaging solutions.
Based on geography, the market is segmented into five major regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is expected to account for the largest share of the global food packaging equipment market in 2022. The high market growth in Asia-Pacific is attributed to the growing application of packaged foods and the high concentration of locally available packaging equipment manufacturers. In addition, the Asia-Pacific region is one of the largest food commodity exporters globally, which further increases the demand for food packaging equipment in the region.
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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:
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