(Food-Beverage-News.Com, September 13, 2017 ) Global Food Packaging Technology Market was worth $46.69 billion in 2016 and estimated to be growing at a CAGR of 9.1%, to reach $ 72.17 billion & Global Food Packaging Equipment Market was worth $14.74 billion in 2016 and estimated to be growing at a CAGR of 5.9%, to reach $ 19.63 billion by 2021.
Food Packaging is a process based on the technological equipment used for protecting food and raw materials, avoid contamination, easily distributed and to distinguish the brand and the types of food. The packaging of food gives importance to the quality and health standards of any living person. The food packaging equipment & technology market has a huge competition due to presence of very large and small-scale industries. The food packaging is done based on the functional properties including protection of food, avoid contamination, communication during distributing and travelling, to follow environmental and safety standards. In the modernised world, people are not buying food if they are not well packed. Adoption of efficient and latest packaging technology is important factor for increase in the production of fancy and unusual shaped products with retained quality as well as has automated the process to reduce the labour cost.
Food quality sustainability and increasing shelf life are the two important factors for the growth of Food Packaging Technology & Equipment Market. The rise in income of middle class and spending capability, Expansions & investments, increase in population, new product launches, demand for FMCG products for daily application, partnerships and agreements, joint ventures were some of the main strategies adopted by the market players to achieve growth in the market. Decreased labour cost, increased production rate has placed the manufacturers in a position to give competition and boost the revenues of the company. A high capital investment for the machinery is restraining the growth of the food packaging technology & equipment market to some extent.
Food packaging involves various processes, types of equipment, and applications. It is segmented by Technology, by Equipment, by Application and by region. Food Packaging Technology Market, by Type is segmented into Controlled packaging, Active packaging, Advanced packaging, Intelligent packaging, Aseptic packaging and others. Food Packaging Equipment Market, by Type is segmented to Form, fill and seal, Labelling & coding, Wrapping, Case packing and Other machinery. On the basis of Application, the market is segmented into Dairy products, Bakery & confectionery, Poultry, seafood & meat products, Convenience foods, Fruits & vegetables and Others. On the basis of region, the market is segmented into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa.
Asia Pacific is one of the fastest growing markets for food packaging technology & equipment because of increase in demand for processed food products in developing countries such as India, China, Thailand and Indonesia. In 2016, North America is the largest market over the globe. In North America, the U.S. is expected to be the largest market for food processing equipment mainly due to growing awareness regarding new food products, rising investment on research over food processing equipment, and development increasing economy. After North America, Europe has the largest market.
The scope of the report: Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis Study the micro environment factors that determine the overall profitability of an Industry, using Porters five forces analysis for analysing the level of competition and business strategy development A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis, and main conclusions Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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