Food Packaging Technology & Equipment Market revenue projected to go up by 2016-2024
Sarasota, FL -- (SBWIRE) -- 10/06/2017 -- Packaging is a process based on the technological equipment used for protecting products, avoid contamination, ease the distributing process, and to differentiate the brand and the types of products. The packaging of food emphasizes more on the quality and health standards of any living person. The application of the food packaging is dependent on the functional properties including protection, containment, communication, environmental and safety standards. In the world of modernization, there are very few food products which are sold unpacked due to health hygiene. Adoption of efficient and latest packaging technology has led an increase in the production of fancy and unusual shaped products with retained quality as well as has automated the process to reduce the labor cost.
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Food packaging technology and equipment market plays the important role due to its direct contact with food products and direct consumption. Thus the packaging involves various processes, types of equipment, and applications. Based on technology, the global food packaging technology & equipment market is segmented as advanced, intelligent packaging, aseptic packaging, active packaging, and controlled technologies. Majorly, all the types are automated or semi-automated. Further, based on the equipment, the global market is classified as coding, case packaging, form-fill-seal (FFS), and labeling. In addition, based on the applications, the global market is diversified as dairy products, bakery and confectionery, fruits & vegetables, poultry, seafood & meat products, and so on.
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Food quality sustainability and increasing shelf life are the two major advantages of food packaging which leads to increasing demand for the food packaging technology and equipment. The rise in income of average earning class and spending capability, as well as the increase in population in developing countries, are other factors boosting the demand for FMCG products for daily application, hence rising the demand for packaging equipment and technology market. Constant development in packaging standards, designs, and raw materials with respect to the environment by the manufacturers is also one the factors boosting the market growth. Reduced labor cost, increased production rate has placed the manufacturers in a position to give competition and boost the revenues, which is also a factor fostering the demand for packaging technology and equipment. A high capital investment for the machinery is restraining the growth of the food packaging technology & equipment market to some extent.
Moreover, the food packaging technology & equipment market is segmented as North America, Europe, Middle East, Asia-Pacific, Latin America and Rest of World. Asia Pacific is one of the fastest growing markets for food packaging technology & equipment owing to increasing demand for processed food products in developing countries such as India, China, Indonesia, and Thailand. In North America, the U.S. is anticipated 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.
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Some of the major companies known for their products, services, and constant developments in food packaging technology and equipment market are Arpac LLC, Bosch packaging technology, Coesia Group, GEA Group, IMA Group, Ishida, Multivac, Inc., Nichrome India Ltd., Omori Machinery Co. Ltd., Oystar Holding GmbH. Other key companies in the global market are Satake Corporation, Nichimo Company Limited, Odenberg Engineering, Meyer Industries Incorporated, and Nordischer Maschinenbau Rud Baader.