Food Packaging Equipment Market to Reach $33.14 Billion Globally by 2031 at a CAGR of 6.3%: AMR
PORTLAND, Oregon., March 7, 2022 /PRNewswire/ — Allied Market Research recently released a report titled, “Food Packaging Equipment Market by Equipment (Bottling Line; Cartoning; Case Handling; Closing; Filling & Dosing; Forming, Filling & Sealing; Labeling, Decorating & Coding; Palletizing; Packing & Bundling; and Others), Application (Meat, Poultry and Seafood, Dairy Products, Bakery and Snacks, Frozen Foods, Candy and Confectionery, Cereals and Cereals, Prepared and Shelf-Stable Perishables) and Distribution Channel (Offline and Online): Opportunity Analysis Global and Industry Forecast, 2022-2031 ». According to the report, the global food packaging equipment industry was represented $18.25 billion in 2021, and should reach $33.14 billion by 2031, growing at a CAGR of 6.3% from 2022 to 2031.
Drivers, constraints and opportunities
Rising urbanization and increase in the number of supermarkets and hypermarkets have boosted the growth of the global food packaging equipment market. However, the increase in counterfeit food packaging is hampering the growth of the market. On the contrary, advancements in technology and increased awareness of the components and contents of the packaging box would open new opportunities for market players in the future.
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- The Covid-19 pandemic has led to reduced demand for certain types of packaging due to lockdown restrictions and increased demand for packaging equipment for e-commerce shipments.
- However, easing restrictions and increasing demand for logistics and packaging equipment would help the market get back on track.
The case processing segment held the largest share
By type of equipment, the case handling segment held the largest share in 2021, accounting for nearly one-sixth of the global food packaging equipment market. However, the form, fill & seal segment is expected to register the highest CAGR of 8.5% during the forecast period, due to fast speed and consistent packing rate.
Shelf-stable segment dominated the market
By application, the shelf stable segment held the lion’s share in 2021, contributing nearly a quarter of the global food packaging equipment market, as these foods require additional packaging requirements. However, the meat, poultry and seafood segment is estimated to have the highest CAGR of 7.9% from 2022 to 2031, due to high consumption rate and wide availability of various products. worldwide.
Asia Pacificfollowed by Europe and North Americaheld the largest share
By region, the market across Asia Pacificfollowed by Europe and North America, dominated in 2021, holding around two-fifths of the global food packaging equipment market. Additionally, the region is expected to register the highest CAGR of 7.2% during the forecast period, owing to the widespread application of the product in end-use sectors and increasing local manufacturing. and consumer income.
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Main market players
- Arpac LLC
- Bosch packaging technology
- Coesia Group
- GEA Group
- IMA Group
- Multivac, Inc.
- Nichrome India Ltd.
- Omori Machinery Co.Ltd.
- Oystar Holding GmbH.
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Allied Market Research (AMR) is a full-service market research and business advisory division of Allied Analytics LLP based in Portland, OR. Allied Market Research provides global corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.
We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.
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SOURCE Allied Market Research