Food Packaging Technology and Equipment Market Growing at a CAGR of 6.74% During Forecast Period 2020-2025

October 12, 2020
Rohitkurup

Food Packaging Technology and Equipment Market Size is estimated to be $41.36 Billion in 2019 and is growing at a CAGR of 6.74% during the forecast period 2020-2025. Food packaging is a packaging that prevents food from infection, damage, pest attack, etc. Packaging of food is important to deliver them to customers in a suitable way. Food packaging equipment carries out several functions such as stretch trading equipment, wrapping, coding, and filling in the food packaging industry. Food packaging technologies and equipment include several methods for packaging. It helps to increase shelf life, ensure the quality of the food, and much more.

Key Takeaways

  • Asia-Pacific dominates the food packaging technology and equipment market in 2019, owing to the growth in demand for processed food, the rise in infrastructural development, and growing economic stability.
  • Rising awareness about the consumption of healthy foods and the adoption of advanced packaging techniques is likely to aid in the growth of the food packaging technology and equipment market.
  • Detailed analysis of the Strength, Weakness, and opportunities of the prominent players operating in the market will be provided in the Food Packaging Technology and Equipment Market report.
  • The packaging food manufacturers face a challenge owing to high initial investment for food packaging and high associated costs. Also, with presence of toxins in packaging, health-conscious consumers are withdrawing from purchase of such products and this is further constraining in the growth of the market.

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Geography – Segment Analysis
Asia-Pacific accounts for 35.49% of the food packaging technology and equipment market share in 2019. Growth in demand for processed food in developing countries and the rise in infrastructural development are the drivers for the food packaging technology and equipment market in the Asia-Pacific region.
However, the North America is projected to be the fastest-growing region during the forecast period 2020-2025. This is mainly owing to the rising consumption of healthy food, increasing investment in R&D of food processing equipment and technology.
Drivers –Food Packaging Technology and Equipment Market 
  • Rising Awareness about Consumption of Healthy Foods
  • Adoption of Effective and Advanced Packaging Technique

 

Food Packaging Technology and Equipment Industry Outlook

Product launches, Merger & Acquisitions, joint ventures and R&D activities are key strategies adopted by players of the Food Packaging Technology and Equipment market. Food Packaging Technology and Equipment top 10 companies are Robert Bosch, GEA Group, COESIA Group, Ishida, ARPAC, Multivac, Omori Machinery Company, Nichrome India, Adelphi Group, Kaufman Engineered Systems, and Lindquist Machine Corporation.
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