Portland, OR -- (SBWIRE) -- 11/06/2017 -- Large number of packaging equipment are employed in the food industry. These are used to perform certain set of functions, such as filling, bagging, sealing, wrapping, bundling, cartoning, over-capping, lidding, labelling, decorating, coding, conveying, and palletizing.

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Increase in awareness regarding healthy and hygienic food product and its expectancy to be safe from the point of packaging till it arrives is expected to drive the market growth. Rise in demand for attractive, innovative, and convenient-to-carry packaging for differentiating the product from the rest is expected to fuel the growth of the market. Moreover, growth in purchasing power, rise in number of online grocery orders, and wide consumer base of on-the-go consumer further fuels the demand for packaging, which in turn is expected to drive the market.

Food packaging equipment includes machineries that are present in every stage of packaging process. Bottling line, cartoning, case handling, closing, filling & dosing, FFS (form, fill & seal) machinery, labelling, decorating, & coding, palletizing, wrapping & bundling, and others are some types of food packaging equipment that perform different packaging functions at different stages of processing.

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The growth in demand for attractive and innovative packaging in the food industry for product differentiation; rise in consumption of processed meat, poultry, and seafood; increase in purchasing power and rise in preference of online shopping of grocery leads to increase in demand for packaged food, which in turn is expected to drive the food packaging equipment market.

In 2016, labelling, decorating, & coding equipment accounted for the highest revenue growing at a significant CAGR of 5.2% from 2017 to 2023. Labels and codes are used on every kind of food product to brand, decorate, provide information, and track products. It consists of high ink-jet coders for printing barcodes, graphics, and text on cartons. Also, it has a wide array of print and apply labelers for labeling bottles, cartons, and pallets with high resolution graphics text and barcodes. This provides protection against tampering.

Whereas, high cost of development and installation of food packaging equipment in most of the developing countries, stringent legislations for food safety and energy-inefficient packaging equipment and machinery hamper the market growth. Growth in packaged food industry in emerging economies such as China, India, Indonesia, and Brazil make way for growth opportunity.

Asia-Pacific and LAMEA collectively contributed about half of the global market share in 2016. The key players operating in the global food packaging equipment market are Arpac LLC, Bosch Packaging Technology, Coesia Group, GEA Group, IMA Group, Ishida, Multivac, Inc., Nichrome India Ltd., Omori Machinery Co. Ltd., and Oystar Holding GmbH.

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Key Findings of the Food Packaging Equipment Market:

Asia-Pacific is expected to maintain its dominant position in the market in terms of value during the forecast period, followed by Europe.

Meat, poultry, and seafood is the largest application segment of the market, registering a significant CAGR from 2017 to 2023.

LAMEA accounted for approximately one-tenth share of the market in 2016.

The Asia-Pacific food packaging equipment market is anticipated to grow at the highest CAGR from 2017 to 2023.

North America accounted for approximately one-fifth share in the market, and is expected to grow at a CAGR of 4.0% during the forecast period.