Food Processing and Food Packaging Equipment Market: Segmented by Type (Controlled, Active, Intelligent, Aseptic, Biodegradable and Others); By Application (Meat, Poultry, & Seafood Products, Dairy & Dairy Products, Processed Food, Beverages and Cereals & Grains); and Region - Global Analysis of Market Size, Share & Trends for 2019-2020 and Forecasts to 2030
[170+ Pages Research Report] Food Processing and Food Packaging Equipment Market to surpass USD 94.73 billion by 2030 from USD 47.95 billion in 2020 at a CAGR of 8.7 % in the coming years, i.e., 2021-30.
Food packaging is required in order to deliver food to consumers in a safe and timely manner. In the food packaging industry, food packaging equipment performs various functions such as wrapping, sealing, coding, and filling. Health label packaging guarantees food product consistency across the supply chain. Food packaging that is effective can withstand a wide range of temperature variations. Bakery, confectionery, dairy products, poultry, meat and seafood, fruits and vegetables, snack foods, and other food packaging applications are the most popular. To preserve the taste and flavor of food, technological advancements have led to the creation of revolutionary food packaging products and equipment.
Global Food Processing and Food Packaging Equipment market is expected to project a notable CAGR of 8.7% in 2030.
The demand for food packaging equipment is being fueled by the rise in urbanization and the number of people opting for on-the-go meals. Increased customer knowledge of hygienic food products is another factor propelling the demand for food packaging equipment. Increasing Health awareness and changing dietary habits are anticipated to further fuel the growth.
Biodegradable segment to grow with the highest CAGR during 2020-30
Global Food Processing and Food Packaging Equipment market is segmented by type into controlled, active, intelligent, aseptic, biodegradable, and others. The biodegradable segment held the largest market share in the year 2020. The demand for biodegradable packaging technology is expected to rise quickly, as the widespread use of plastic as a packaging material has raised environmental concerns due to its difficulty in decomposition. Several governments have enacted strict rules governing the use of plastic and other non-biodegradable packaging materials.
Dairy & Dairy Products segment to grow with the highest CAGR during 2020-30
Global Food Processing and Food Packaging Equipment market is divided by application into Meat, Poultry, & Seafood Products, Dairy & Dairy Products, Processed Food, Beverages, and Cereals & Grains. Over the forecast period, the Dairy & Dairy Products segment is projected to expand at the fastest pace. Perishable food products, such as dairy, dairy substitutes, and related products, have a short shelf life, making them vulnerable to contamination, emissions, and climatic changes, fueling consumer demand. The food and beverage industry is dealing with a dramatic shift in consumer demand and product options. Luxury, novelty, brand image, and the success of a food product are some of the factors that affect a customer's purchasing behavior in hypermarkets, supermarkets, and other retail establishments. Manufacturers are required to plan out their packaged and ready-to-eat food promotions. In the near future, this is expected to boost business growth.
Innovative Food Packaging Equipment and Increased Knowledge of Hygienic Food Products
In the food industry, a large amount of packaging equipment is used. These are used for filling, bagging, sealing, packaging, bundling, cartooning, over-capping, lidding, labeling, decorating, coding, conveying, and palletizing, among other things. Innovative food packaging equipment has emerged as a result of technological advancements in order to preserve the efficacy, flavor, and taste of food products. Increased knowledge of nutritious and hygienic food products, as well as the expectation that they will be safe from the time they are packaged until they arrive, is expected to drive market growth.
Rise in Demand of Creative Packaging and Online Orders
The market is expected to expand due to an increase in demand for attractive, creative, and easy-to-carry packaging that distinguishes the product from the competition. Furthermore, rising buying power, an increase in the number of online grocery orders, and a large customer base of on-the-go consumers are fueling packaging demand, which is expected to drive the market.
Competition from Local Manufacturers and High Costs Associated with Market
Rising competition from local manufacturers as well as high costs of raw material and manufacturing costs are the market's stumbling block.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global Food Processing and Food Packaging Equipment market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Global Food Processing and Food Packaging Equipment in Asia Pacific held the largest market share in the year 2020. In Asia Pacific, economic stability, infrastructure creation, and buying parity are expected to aid the market's growth over the forecast period. Economic growth in countries like India and China, accompanied by technological investments, is expected to have a positive effect on the industry. Because of evolving food habits, rising health consciousness, and other macroeconomic factors, China is expected to make a major contribution to the food and beverage industry.
Global Food Processing and Food Packaging Equipment Market is further segmented by region into:
Food Processing and Food Packaging Equipment Market Segments:
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