The global food packaging equipment market size is projected to reach USD 23.03 Billion by 2027, exhibiting a CAGR of 3.6% during the forecast period. Integration of automation tools with food packaging processes will accelerate the expansion of this market, observes Fortune Business Insights™ in its report, titled “Food Packaging Equipment Market Size, Share & COVID-19 Impact Analysis, By Equipment Type (Filling, Bottling, Case Cartoning, Labeling and Palletizing), By Application (Bakery and Confectionery Products, Meat and Poultry Products, Dairy Products, Beverages and Others) and Regional Forecast, 2020-2027”. Deployment of Internet of Things (IoT) by food packaging companies has raised the food safety quotient considerably in recent years. For instance, many companies are utilizing the Automated Hazard Analysis and Critical Control Points (HACCP) checklists throughout the manufacturing, production, and transport processes to gather consistent data and put in place appropriate safety norms. Similarly, manufacturers are adopting Radio Frequency Identification (RFID) technology to effectively monitor the distribution and supply chain as well as ensure proper warehousing practices. Together, smart technologies are furthering the progress of the food packaging machinery market.
Objectives of the Report
- A comprehensive overview of the market, focusing on aspects such as growth drivers, restraints, challenges, and opportunities.
- Market segmentation in detail, key industrial developments, and future opportunities in the market.
- List of key market vendors and strategies adopted by them, such as mergers and acquisitions, company collaborations, product launches, machinery upgrades, contracts, and others.
- Other food packaging equipment market trends.
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Some of the key food packaging equipment market manufacturers include –
- OPTIMA packaging group GmbH
- ARPAC LLC.
- GEA Group Aktiengesellschaft
- Tetra Pak International S.A.
- M.A. INDUSTRIA MACCHINE AUTOMATICHE S.P.A.
- Coesia S.p.A.
- Illinois Tool Works Inc.
- Robert Bosch Packaging Technology GmbH
- Krones AG
Key industry developments in the food packaging equipment market include:
- February 2020: MULTIVAC showcased its novel vacuum skin packaging solutions for prolonging the shelf-life of fish and other seafood at the Seafood Expo Global in Brussels. Besides this, the company will also be launching its concept sustainable packaging products to meet the recycling parameters for such solutions.
- March 2019: Bosch introduced the Pack 403, the first machine of its kind of flow wrappers in the Asian and European markets. The machine is a 100% automated, horizontal flow wrapper with narrow dimensions, perfectly suited for packaging biscuits, bars, crackers, cookies, and chocolates. Asia Pacific to Dominate Market with Rising Popularity for Packaged Food
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Strong Government Backing to Food Packaging Industry to Fuel the Asia Pacific Market
Asia Pacific, where the market size stood at USD 5.72 billion in 2019, is expected to occupy a commanding market position during the forecast period as governments across the region are providing strong policy and financial support to the food processing and packaging industry. For instance, India’s National Investment Promotion & Facilitation Agency expects the processed food industry will attract investments worth USD 33 billion by 2024.
In Europe, the market is anticipated to showcase lucrative growth as manufacturers in Europe are increasingly adopting advanced food packaging equipment to comply with the stringent food safety standards framed by the European Union (EU). On the other hand, the market in North America is predicted to grow steadily on account of high demand for ready-to-eat convenience foods across the region.
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