5-February-2019: The global food packaging equipments market size is estimated to surpass USD 60.40 Billion by 2025. It is anticipated to expand at a CAGR 4.87% over the forecast period. Growing demand for convenient, packaged, processed, and ready-to-eat food products is favoring the packaging industry, especially in emerging regions like Asia Pacific. This factor is anticipated to bode well for market growth in the forthcoming years.
Increasing awareness among consumers regarding packaging, hygiene, and nutritional value of food coupled with rise in demand for dairy, bakery, confectionery, meat, poultry, seafood, and allied products is anticipated to trigger the market growth. In addition, rising investments for developing efficient manufacturing units for packaging equipment is predicted to encourage growth of the food packaging equipment market over the forecast timeframe. Government regulations regarding manufacturing materials and processes along with secure work environment and product standardization is expected to further drive the growth.
The filling and dosing equipment segment is expected to register significant CAGR over the forecast period. Product standardization, quality, and value-added engineering in manufacturing processes offer competitive advantage to the manufacturers in the market. The shift in dietary habits, westernization in lifestyle and food consumption supported by inclination of consumers towards ready-to-eat and packaged food is projected to augment the demand for packaging equipment favoring food packaging equipments market.
Russia is expected to attain USD 5.40 Billion by 2025. Increasing industrial automation, purchasing parity power and shifts in the dietary habits are some of the reasons that are expected to propel the market growth. India was valued at USD 3.01 Billion in 2017. Bakery and confectionary and convenience food application is forecasted to have significant market share in 2017. The growth of Indian market for food packaging equipment is driven by rapid infrastructural development, change in lifestyle, health consciousness, healthy food habits, and other macroeconomic factors.
In depth research report on Food Packaging Equipment Market
Further key findings from the report suggest:
· Filling and dosing equipment is expected to lead the equipment segment with a CAGR of 4.99% over the forecast period, owing to ongoing research in packaging automation, adoption of Industry 4.0, and technological advancements
· Dairy product is expected to emerge dominant application segment and expand at a CAGR of 4.99% over the forecast period
· Canada Food Packaging Equipment market is expected to expand at a CAGR of 5.72% over the forecast period, owing to favorable market opportunities, industrialization, and supportive government policies
· Key market players are Bosch Packaging Technology GmbH, GEA Group Aktiengesellschaft, Coesia S.p.A., MULTIVAC Group, and ARPAC LLC among others.
Grand View Research has segmented the global food packaging equipments market based on equipment, application, and region:
Food Packaging Equipments Outlook (Revenue, USD Billion, 2014 - 2025)
· Form-fill-seal
· Filling & Dosing
· Cartoning
· Case Packing
· Wrapping & Bundling
· Others
Food Packaging Equipments Application Outlook (Revenue, USD Billion, 2014 - 2025)
· Bakery & Confectionary
· Dairy Products
· Fruits, Nuts & Vegetables
· Meat, Poultry & Seafood
· Convenience Food
· Others
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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