A new Technavio report offers segmentation of the food packaging machinery market by machiney type (Filling, Labeling and coding, Wrapping and Other machinery and parts), by application (bakery product, dairy product, poultry, seafood and meat, convenience food packaging, fruit and vegetable packaging) and by major nations (China, Japan and India). Leading vendors in the market include AcmaVolpak, Bosch Packaging Technology, GEA Group and Illinois Tool Works.
Technavio presents an in-depth analysis of the food packaging market, with the publication of its new report, Food Packaging Machinery Market in APAC 2015-2019, which is estimated to grow at a CAGR of around 7% between 2015 and 2019 observing augmented demand for advanced packaging systems.
The demand for packaged food is increasing with increased urbanization and a greater number of people opting for ‘take-out’ and ‘on-the-go’ meals. Owing to provide convenience for on-the-go consumption, manufacturers are getting into immense technological innovations regarding the packaging of the food products. They are looking for packaging materials that are lightweight and durable for cost-efficient packaging as these qualities allow for reduced transportation and handling costs.
Food packaging machines carry out various functions like filling, closing, wrapping, and coding for the food packaging industry, which are extensively used across different food segments with suitable customization. Of the various machinery types in food packaging, the filling segment is the largest segment accounting for 29% of the market, thanks to the growing demand for baby food, bakery products, confectioneries, and frozen foods.
Food packaging machinery market in APAC by machinery type 2014 and 2019
“Consumers prefer packaging that is convenient to open, re-closable, portable and allows one-handed use. Flexible packaging design attributes like zippers, pouring spouts, peel-off lids, and microwavable pouches, provide consumers to conveniently dispose of products after use. Hence catering to such propensity, vendors are augmenting active, resourceful, and smart packaging solutions that scout out freshness, improve safety and convenience, and enhance the shelf life of products,” says Sriram Mohan, Lead Analyst, Automotive, Technavio Research.
The market is dominated by large global vendors such as AcmaVolpak, Bosch Packaging Technology, GEA Group and Illinois Tool Works, and they collectively account for 20%-30% of the food packaging machinery market. Of late, Bosch Packaging Technology announced its plan for a joint venture with Klenzaids Contamination Controls in India.
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