Food Packaging Equipment Market Overview:
Global Food Packaging Equipment Market is expected to garner $19,268 million by 2023, from $14,740 million in 2016, registering a CAGR of 4.0% from 2017 to 2023. Large number of packaging equipment are employed in the food industry. These are used to perform certain set of functions, such as filling, bagging, sealing, wrapping, bundling, cartoning, over-capping, lidding, labelling, decorating, coding, conveying, and palletizing. Growth in technology has led to the emergence of innovative food packaging equipment to maintain the efficacy, flavor, and taste of food products. Increase in awareness regarding healthy and hygienic food product and its expectancy to be safe from the point of packaging till it arrives is expected to drive the market growth. Rise in demand for attractive, innovative, and convenient-to-carry packaging for differentiating the product from the rest is expected to fuel the growth of the market. Moreover, growth in purchasing power, rise in number of online grocery orders, and wide consumer base of on-the-go consumer further fuels the demand for packaging, which in turn is expected to drive the market.
The global food packaging equipment market is segmented based on equipment, application, and geography. Based on equipment, the market is divided into bottling line; cartoning; case handling; closing; filling & dosing; form, fill & seal; labelling, decorating & coding; palletizing; wrapping & bundling; and others. On the basis of application, the market is classified into meat, poultry & seafood, dairy, bakery & snack, frozen, candy & confectionery, cereal & grain, perishable prepared, and shelf stable. Based on geography, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Global Food Packaging Equipment Market Segmentation
In 2016, Asia-Pacific was the largest revenue contributor to the global market, owing to the growth in awareness and increase in adoption of packaged foods. There is a rise in the earnings, and thus increase in expenditure. Growth in young population in countries such as India, China, and Indonesia, majorly propels the demand for online food services leading to the growth in packaged foods. Busy lifestyle and rise in standard of living fuel the growth of the food packaging equipment market. In 2016, China is expected to dominate the market in terms of revenue, accounting for 46.0% share in Asia-Pacific.
Top Investment Pockets
Meat, poultry, and seafood industry is the most attractive application for the food packaging equipment market. In 2016, it accounted for approximately one-fifth share in terms of revenue, growing at a highest CAGR of 4.7% from 2017 to 2023. The growth in preference of consumer for protein rich food has led to the increased consumption of meat and sea food. The busy lifestyle and large on-the-go consumer base has led to rise in demand for frozen foods. Thus, frozen foods prove to be an attractive application segment for market players in food packaging equipment market. It is expected to grow at a CAGR of 4.5% during the forecast period.
Global Food Packaging Equipment Market: Top Investment Pockets, by Application
In 2016, labeling, decorating, and coding equipment accounted for the highest revenue growing at a significant CAGR of 5.2% from 2017 to 2023. It consists of high ink-jet coders for printing barcodes, graphics, and text on cartons. Also, it has a wide array of print and apply labelers for labeling bottles, cartons, and pallets with high resolution graphics text and bar-codes. Form, fill & seal equipment segment is expected to grow at the highest CAGR of 5.6% during the forecast period.
Growth in the economies in South & Central American countries such as Brazil, Argentina, Costa Rica, and others lead to the growth of packaged food. Brazils large manufacturing base and well-developed agro-export industry are expected to drive the food packaging equipment market. The Brazilian agro-products industry, with a global share of 25% of the global food market, is the key factor that accelerates the market growth.
Central & South America Food Packaging Equipment Market, 2015-2023 ($Million)
The key players profiled in the report include Arpac LLC, Bosch Packaging Technology, Coesia Group, GEA Group, IMA Group, Ishida, Multivac, Inc., Nichrome India Ltd., Omori Machinery Co. Ltd., and Oystar Holding GmbH.
The other key market players (not profiled in this report) in the value chain include Illinois tool works, Inc., Tetra Laval International S.A., The Adelphi Group of Companies, AMF Bakery Systems, Arpac LLC, Lindquist Machine Corporation, and Kaufman Engineered System.
- The report provides an in-depth analysis of the current trends, drivers, and dynamics of the global food packaging equipment market to elucidate the prevailing opportunities and tap the investment pockets.
- It offers qualitative trends as well as quantitative analysis of the global market for the period of 2016-2023 to assist stakeholders to understand the market scenario.
- In-depth analysis of the key segments demonstrates the packaging equipment and their applications.
- Competitive intelligence of the industry highlights the business practices followed by key players across geographies as well as the prevailing market opportunities.
- Key market players along with the strategies and developments are profiled in the report to understand the competitive outlook of the market.
Food Packaging Equipment Market Key Segmentation:
- Bottling Line
- Case Handling
- Filling & Dosing
- Form, Fill & Seal
- Labelling, Decorating, & Coding
- Wrapping & Bundling
- Meat, Poultry & Seafood
- Bakery & Snack
- Frozen Food
- Candy & Confectionery
- Cereal & Grain
- Perishable Prepared
- Shelf Stable
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Central & South America
- Middle East