Food Packaging Technology Market worth $57.80 Billion by 2023
The Asia Pacific region witnessed the fastest growth in the food packaging technology and equipment market; one of the key factors being the rapid economic growth and rise in urbanization.
(EMAILWIRE.COM, June 04, 2020 ) The report "Food Packaging Technology and Equipment Market by Technology (Controlled, Active, Intelligent, Aseptic, and Biodegradable), Material (Metal, Glass & Wood, Paper & Paperboard, and Plastics), Equipment, Application, and Region-Global Forecast to 2023 "The food packaging technology market is projected to reach USD 57.80 Billion by 2023. The food packaging technology market is estimated at USD 41.36 billion in 2018 and is projected to reach USD 57.80 billion by 2023, at a CAGR of 6.92% during the forecast period. The food packaging equipment market is estimated at USD 19.72 billion in 2018 and is projected to reach USD 26.96 billion by 2023, at a CAGR of 6.46% during the forecast period. The market is driven by factors such as high demand for hygienic food packaging, as well as rising consumption of fresh & high-quality food and demand for conveniently packaged food products.
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Controlled packaging is estimated to be the largest segment, by technology type, in 2018.
Based on technology type, the food packaging technology market has been segmented into controlled, active, intelligent, aseptic, biodegradable, edible, and nano-enabled technology. The controlled packaging segment is estimated to account for the largest share in 2018. Controlled technology modifies the composition of the internal atmosphere of the packaging in order to increase the shelf life of the products. It changes the concentration of the gases in the headspace of the packaging. This type of packaging also helps retain the color of the food intact, thus ensuring visual appeal.
The plastics segment, by material, is estimated to account for the largest share of the food packaging technology market in 2017.
The plastics material segment is estimated to account for the largest share of the global food packaging technology market in 2017. Plastic packaging consists of a wide range of synthetic and semi-synthetic materials, the use of which varies with the food products being packaged. Due to their low cost, versatility, and easy availability, plastics are used in a variety of applications. Properties such as durability, safety, hygiene, and light weight have made plastic packaging popular.
The form-fill-seal equipment is estimated to be the largest market for food packaging equipment in 2017.
The form-fill-seal segment accounted for the largest share of the global food packaging equipment market in 2018. They are used for a wide range of products such as bakery, confectionery, dairy, meat, poultry, and convenience food. Form-fill-seal held the largest share in the global food packaging equipment market owing to their ability to perform multiple tasks. This provides cost efficiency and operational effectiveness to food manufacturers.
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Asia Pacific is projected to grow at the highest rate in the food packaging technology and equipment markets during the forecast period.
The Asia Pacific region witnessed the fastest growth in the Food Packaging Technology and Equipment Market; one of the key factors being the rapid economic growth and rise in urbanization. IMF World Economic Outlook estimated that the two economic giants of the Asia Pacific region—China and Japan—were the world’s second- and third-largest economies in 2017, respectively. Other drivers that would have a positive impact on this market are the rising household incomes and the growing middle-class population, which are expected to increase the demand for packaged and convenience food products in the region.
This report includes a study of the marketing and development strategies, along with the product portfolios of the leading companies. It includes the profiles of leading companies such as Robert Bosch (Germany), GEA Group (Germany), IMA Group (Italy), COESIA Group (Italy), Ishida (Japan), and ARPAC (US).Other players include Multivac (Germany), Omori Machinery Company (Japan), Nichrome India (India), Adelphi Group (UK), Kaufman Engineered Systems (US), and Lindquist Machine Corporation (US).
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
Download PDF brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=171847215
Controlled packaging is estimated to be the largest segment, by technology type, in 2018.
Based on technology type, the food packaging technology market has been segmented into controlled, active, intelligent, aseptic, biodegradable, edible, and nano-enabled technology. The controlled packaging segment is estimated to account for the largest share in 2018. Controlled technology modifies the composition of the internal atmosphere of the packaging in order to increase the shelf life of the products. It changes the concentration of the gases in the headspace of the packaging. This type of packaging also helps retain the color of the food intact, thus ensuring visual appeal.
The plastics segment, by material, is estimated to account for the largest share of the food packaging technology market in 2017.
The plastics material segment is estimated to account for the largest share of the global food packaging technology market in 2017. Plastic packaging consists of a wide range of synthetic and semi-synthetic materials, the use of which varies with the food products being packaged. Due to their low cost, versatility, and easy availability, plastics are used in a variety of applications. Properties such as durability, safety, hygiene, and light weight have made plastic packaging popular.
The form-fill-seal equipment is estimated to be the largest market for food packaging equipment in 2017.
The form-fill-seal segment accounted for the largest share of the global food packaging equipment market in 2018. They are used for a wide range of products such as bakery, confectionery, dairy, meat, poultry, and convenience food. Form-fill-seal held the largest share in the global food packaging equipment market owing to their ability to perform multiple tasks. This provides cost efficiency and operational effectiveness to food manufacturers.
Speak to Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=171847215
Asia Pacific is projected to grow at the highest rate in the food packaging technology and equipment markets during the forecast period.
The Asia Pacific region witnessed the fastest growth in the Food Packaging Technology and Equipment Market; one of the key factors being the rapid economic growth and rise in urbanization. IMF World Economic Outlook estimated that the two economic giants of the Asia Pacific region—China and Japan—were the world’s second- and third-largest economies in 2017, respectively. Other drivers that would have a positive impact on this market are the rising household incomes and the growing middle-class population, which are expected to increase the demand for packaged and convenience food products in the region.
This report includes a study of the marketing and development strategies, along with the product portfolios of the leading companies. It includes the profiles of leading companies such as Robert Bosch (Germany), GEA Group (Germany), IMA Group (Italy), COESIA Group (Italy), Ishida (Japan), and ARPAC (US).Other players include Multivac (Germany), Omori Machinery Company (Japan), Nichrome India (India), Adelphi Group (UK), Kaufman Engineered Systems (US), and Lindquist Machine Corporation (US).
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
Contact Information:
MarketsandMarkets™
Mr. Aashish Mehra
Tel: 1-888-600-6441
Email us
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MarketsandMarkets™
Mr. Aashish Mehra
Tel: 1-888-600-6441
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results