(Food-Beverage-News.Com, February 07, 2018 ) Global Food Packaging Technology Market was worth $46.69 billion in 2016 and estimated to be growing at a CAGR of 9.1%, to reach $ 72.17 billion & Global Food Packaging Equipment Market was worth $14.74 billion in 2016 and estimated to be growing at a CAGR of 5.9%, to reach $ 19.63 billion by 2021.
Food Packaging is a process based on the technological equipment used for protecting food and raw materials, avoid contamination, easily distributed and to distinguish the brand and the types of food. The packaging of food gives importance to the quality and health standards of any living person. The food packaging equipment & technology market has a huge competition due to presence of very large and small-scale industries.
The food packaging is done based on the functional properties including protection of food, avoid contamination, communication during distributing and travelling, to follow environmental and safety standards. In the modernised world, people are not buying food if they are not well packed. Adoption of efficient and latest packaging technology is important factor for increase in the production of fancy and unusual shaped products with retained quality as well as has automated the process to reduce the labour cost.
Food quality sustainability and increasing shelf life are the two important factors for the growth of Food Packaging Technology & Equipment Market. The rise in income of middle class and spending capability, Expansions & investments, increase in population, new product launches, demand for FMCG products for daily application, partnerships and agreements, joint ventures were some of the main strategies adopted by the market players to achieve growth in the market. Decreased labour cost, increased production rate has placed the manufacturers in a position to give competition and boost the revenues of the company. A high capital investment for the machinery is restraining the growth of the food packaging technology & equipment market to some extent.
Food packaging involves various processes, types of equipment, and applications. It is segmented by Technology, by Equipment, by Application and by region. Food Packaging Technology Market, by Type is segmented into Controlled packaging, Active packaging, Advanced packaging, Intelligent packaging, Aseptic packaging and others. Food Packaging Equipment Market, by Type is segmented to Form, fill and seal, Labelling & coding, Wrapping, Case packing and Other machinery. On the basis of Application, the market is segmented into Dairy products, Bakery & confectionery, Poultry, seafood & meat products, Convenience foods, Fruits & vegetables and Others. On the basis of region, the market is segmented into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa.
Asia Pacific is one of the fastest growing markets for food packaging technology & equipment because of increase in demand for processed food products in developing countries such as India, China, Thailand and Indonesia. In 2016, North America is the largest market over the globe. In North America, the U.S. is expected to be the largest market for food processing equipment mainly due to growing awareness regarding new food products, rising investment on research over food processing equipment, and development increasing economy. After North America, Europe has the largest market.
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 Nordischer Maschinenbau Rud Baader.
Food Packaging Technology Market Segmentation: Technology Introduction Controlled Software Advanced Intelligent Aspetic Y-o-Y Growth Analysis, By Technology Market Attractiveness Analysis, By Technology Market Share Analysis, By Technology
Equipment Introduction FFS Labelling Coding Wrapping Case Technology Y-o-Y Growth Analysis, By Equipment Market Attractiveness Analysis, By Equipment Market Share Analysis, By Equipment
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