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 poised for substantial growth, with an anticipated CAGR of 6% from 2022, projecting to reach $25.37 billion by 2029. In terms of volume, the market is expected to expand at a CAGR of 8% during the same period, reaching 12,131.3 thousand units by 2029. This growth is primarily fueled by factors such as the increasing integration of automated technologies, machinery flexibility, and the burgeoning demand for hygienic food packaging. Additionally, food manufacturers are increasingly inclined towards efficient packaging products.
Emerging economies witnessing a surge in the packaged food industry, alongside the utilization of packaging as a tool for product differentiation, present significant growth opportunities for market players. However, challenges persist, including the high cost of advanced packaging solutions and stringent environmental regulations. Recycling complexities of multilayer films and a scarcity of skilled personnel further impede market growth.
Segmentation of the global food packaging equipment market is based on type, application, and geography, with an in-depth analysis of industry competitors and country-level market assessment. The types of equipment encompass form-fill-seal, cartoning, filling & dosing, wrapping & bundling, case packing, labeling & coding, inspecting, detecting, and checking weighing machines, among others.
In 2022, form-fill-seal equipment is expected to dominate the market, particularly attributed to the speed and versatility it offers, streamlining packaging processes. This segment includes both vertical and horizontal form-fill-seal equipment, with the former accounting for a larger share due to its suitability for automated assembly-line packaging systems.
Application-wise, segments such as meat, poultry, and seafood are anticipated to hold significant market shares, driven by increased consumption of processed and frozen products. Geographically, Asia-Pacific is expected to lead the market, owing to rising packaged food applications and a high concentration of local packaging equipment manufacturers.
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Key players in the market include Syntegon Technology GmbH, Coesia S.P.A, GEA Group Aktiengesellschaft, and others. The report addresses key questions such as market segment analysis, historical data, forecasts, drivers, restraints, competitive landscape, recent developments, strategies of major players, geographic trends, and emerging local competitors.
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