Food packaging machinery: Key market research findings
- APAC dominates the market geographically
- Ongoing rise in the demand for smart packaging
- Key vendors – Bosch Packaging Technology, Coesia, GEA Group, Illinois Tool Works, MULTIVAC, and Tetra Laval
Technavio’s market research analysts predict the global market for food packaging machinery to grow at a CAGR of almost 7% between 2016 and 2020. The growth of this market is driven by the rising demand for labelling and coding in the food industry. The growing need for shippers to accurately track food products is triggering an increase in the demand for labeling and coding products. The need to prevent counterfeiting is also one of the major drivers impelling the demand for technologically advanced labeling and coding machines. During 2015, the global food packaging machinery market was dominated by APAC with a market share of around 40%. A high number of food packaging industries catering to an enormous population in the region will propel the growth of the food packaging machinery market in APAC during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the food packaging machinery based on the machine type.
“The market is currently witnessing an increase in the demand for smart packaging. This trend is triggered primarily by increasing concerns about wastage of food. Seafood, meat and poultry, dairy products, confectionery, fruits and vegetables, and ready-to-eat meals are the major applications of smart packaging. Besides, technological advancements make smart packaging capable of preserving the food for a longer period by using barrier layers and germicidal films,” says Sharan Raj, Lead Analyst, Transportation & Logistics, Technavio Research.
By 2020, the FFS segment will account for more than 32% of the overall market revenue to become the dominant shareholder in the global market for food packaging machinery. One of the major factors fueling the growth of this segment is the growth of sectors such as baby food, bakery products, confectionery, and frozen foods. Developing countries such as China and India are the major revenue contributors to this market. Increased demand for sustainable packaging in developing countries is pushing the growth of the global FFS machinery market.
The key vendors in the global food packaging machinery market include Bosch Packaging Technology, Coesia, GEA Group, Illinois Tool Works, MULTIVAC, and Tetra Laval. The global food packaging machinery market is highly competitive with six major global players and many small vendors. These six firms account for 25%-35% of the market. However, the major part of the market in developing countries is highly fragmented, with many small vendors manufacturing basic machinery and spare parts. Germany, France, and Italy are the most mature markets, and Central Europe, Eastern Europe, and the UK are the markets with high potential for these players.
A more detailed analysis is available in the Technavio report, Global Food Packaging Machinery Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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