According to a new market 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,” published by Meticulous Research®, the food packaging equipment market is expected to grow at a CAGR of 6% from 2022–2029 to reach $25.37 billion by 2029. By volume, this market is expected to grow at a CAGR of 8% from 2022 to reach 12,131.3 thousand units by 2029.
Food packaging equipment is a machine that enables processed food manufacturers to package and distribute different food types in attractive and efficient packaging. Numerous food packaging equipment are used in conjunction with the processing equipment to streamline the food manufacturing process and reduce the cost over distribution and re-distribution of food products. The packaging of food has evolved over several years to meet the increasing environmental regulations, usage of food-grade materials, and types of packages. Efficient packaging increases the shelf life of products to a notable extent which significantly reduces food wastage. Food packaging equipment manufacturers are continuously advancing their products to meet the growing demand and integrate automation.
The major factors driving the overall growth of food packaging equipment market include increasing integration of automated technologies and flexibility of machinery, the increasing demand for hygienic food packaging, and food manufacturers’ growing inclination towards using efficient food packaging products. However, issues related to recycling multilayer films and lack of skilled personnel and training are major challenges for the growth of the overall food packaging equipment market.
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Impact of COVID-19 on the Food Packaging Equipment Market
The outbreak of the COVID-19 pandemic resulted in panic buying among consumers, which increased the demand for basic commodities, including food products. The increased consumption of food products significantly decreased the availability of grocery items at retail stores. Also, disrupted supply chains, labor shortages, and the increased demand for high volumes of raw materials created new challenges for the food industry. However, the situation gradually improved in 2021. Moreover, food packaging equipment manufacturers and food processing facilities started focusing on automating packaging processes.
In 2020, the food sector faced huge losses due to the ban on imports & exports, travel, and tourism. Major food-exporting countries, including the U.S., Germany, the U.K., China, France, Canada, and Japan, faced losses due to restrictions on logistics and disrupted supply chains in end-user countries. The situation was severe in the first and second quarters of 2020 but started to normalize towards the end of 2020. By 2021, the situation improved noticeably with relaxations in government restrictions, leading to elevated demand for food products and increased commodity prices, which supported the recovery of the food packaging equipment market. Additionally, local manufacturing facilities that were temporarily shut down in the first six months of 2020 resumed operations from the third quarter due to the end of lockdowns and the need for economic growth.
The complete ecosystem of the food industry, from raw material providers to food-service & delivery companies, was severely impacted by the pandemic. As a precautionary measure, the food industry started deploying automated systems to minimize manual contact with the final products. The industry is, however, expected to gain further traction in 2022. Thus, the need to limit human contact for curbing the further spread of COVID-19 is projected to result in the implementation of automated food packaging equipment across various F&B processing facilities globally.
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The overall food packaging equipment market is segmented based on type, application, and geography. The study also evaluates industry competitors and analyzes the market at the country level.
Based on equipment type, the food packaging equipment market is segmented into form-fill-seal equipment, cartooning equipment, filling & dosing equipment, wrapping & bundling equipment, case packing equipment, labeling & coding equipment, inspecting, detecting, and checking weighing machines, and other equipment. In 2022, the form-fill-seal equipment segment is expected to account for the largest share of the overall food packaging equipment market. The large share of this segment is attributed to the greater speed and versatility provided by FFS systems for food packaging companies. FFS systems use flexible film to form the primary package, such as a bag or pouch. These systems streamline the packaging process by reducing production time and increasing versatile manufacturing. However, the case packing equipment segment is expected to grow at the highest CAGR during the forecast period. Factors such as higher production volumes in a shorter duration, improved food safety, lowered company expenses—leading to reduced labor cost, and reduced risk of potential bottlenecks and downtime are driving the growth of this segment.
The form-fill-seal equipment segment is further segmented into vertical form-fill-seal equipment and horizontal form-fill-seal equipment. In 2022, the vertical form-fill-seal equipment segment is expected to account for the larger share of the overall form-fill-seal equipment market. The large share of this segment is attributed to its flexibility to contain an automated assembly-line product packaging system. Vertical form-fill-seal machines are best suited for restrained floorspace and frequent packaging changeovers.
Based on application, the food packaging equipment market is segmented into dairy, bakery, chocolate & confectionery, fruits & vegetables, meat, poultry, and seafood, snack food, and others. The meat, poultry, and seafood segment is expected to account for the largest market share in 2022. The segment is also expected to witness a rapid growth during the forecast period. The growth of this segment is attributed to the rising consumption of processed and frozen meat and seafood. Moreover, the consumption of processed meat products has increased worldwide due to advancements in cold-chain logistics and efficient packaging solutions.
Based on geography, the global food packaging equipment market is segmented into five major regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2022, Asia-Pacific region is expected to account for the largest share of the global food packaging equipment market. The high market growth in Asia-Pacific region is primarily attributed to the growing application of packaged foods and the high concentration of locally available packaging equipment manufacturers. In addition, the Asia-Pacific region is one of the largest food commodity exporters globally, which further increases the demand for food packaging equipment in the region.
Some of the key players operating in the global food packaging equipment market are Syntegon Technology GmbH (Germany), Coesia S.P.A (Italy), GEA Group Aktiengesellschaft (Germany), MULTIVAC Group (Germany), IMA Group (U.S.), Krones AG (Germany), Tetra Laval Group (Switzerland), OPTIMA Packaging Group GmbH (Germany), ARPAC LLC (U.S.), Ishida Co. Ltd (Japan), Omori Machinery Co. Ltd. (Japan), and TNA Solutions Pty Ltd. (Australia) among others.
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Scope of the Report
Food Packaging Equipment Market, by Type
- Form-fill-seal Equipment
- Horizontal Form-fill-seal Equipment
- Pouch Packaging
- Other Packaging Form
- Vertical Form-fill-seal Equipment
- Pouch Packaging
- Other Packaging Form
- Cartoning Equipment
- Filling & Dosing Equipment
- Wrapping & Bundling Equipment
- Case Packing Equipment
- Labeling & Coding Equipment
- Inspecting, Detecting, and Check Weighing Machines
- Other Equipment
- Horizontal Form-fill-seal Equipment
Food Packaging Equipment Market, by Application
- Chocolate & Confectionery
- Fruits & Vegetables
- Meat, Poultry, and Seafood
- Snack Food
- Extruder & Puffed Snacks
- Nuts & Seeds
Food Packaging Equipment Market, by Geography
- Asia-Pacific (APAC)
- Rest of Asia-Pacific
- Rest of Europe (RoE)
- North America
- Latin America
- Rest of LATAM
- Middle East & Africa
About Meticulous Research®
Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
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Content Source: https://www.meticulousresearch.com/pressrelease/472/food-packaging-equipment-market-2029