Food Packaging Technology and Equipment Market
Food packaging technology and equipment are the various products and innovations present in the food packaging and processing industry designed to integrate better quality of food packaging. This category of products and solutions help in delivering better effectiveness in packaging lifecycle for food products, by incorporating the latest innovations prevalent in the market helping deliver a highly effective mood of protection of products-in transit.
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The main factors boosting the Food Packaging Technology and Equipment Market t are:
- Rise in demand for ready-to-eat food products: With the utilization of packaged food, especially ready-to-eat food products from the various consumer base, the market for food packaging technology and equipments is expected to experience a number of positive effects in terms of its demands. The market for food packaging technology and equipment is focused on improving the convenience, shelf life and marketing capabilities that the manufacturers can incorporate in their food products. Due to the increased demands for ready-to-eat food products which will subsequently improve the adoption rate for modern and innovative packaging technologies and equipment there will be an advanced rate of market demand worldwide
- Food packaging helps in increasing the shelf-life of the products: Another important factor that is promoting the market growth is the various benefits associated with packaging of food products. Packaging ensures that the contents inside are safe from any external factors that can result in contamination of products, or transferring of food-borne diseases. This process also helps in promotion of overall shelf life of these products helping reach a wider consumer base and improving the various characteristics
The market is segmented on the basis of type as technology, equipment; material as metal, glass & wood, paper & paperboard, plastics, others; application as dairy & dairy products, bakery products, confectionary products, meat, poultry & seafood products, convenience foods, fruits & vegetables, sauces & condiments.
Some of the Food Packaging Technology and Equipment Marketdevelopments are as follows:
- In June 2019, Zume Inc. announced the availability of “Zume Source Packaging” based on the creation of packaging products from plant-based materials helping provide a competition to plastic-based products in terms of cost effectiveness when utilized for mass production. This launch was subsequently supported by their acquisition of “Pivot Packaging” helping them establish a manufacturing plant situated in Southern California, United States having a capacity of 70,000 square foot. This strategy of products being produced from sustainable raw materials is designed to address the significant demands of environmental-friendly packaging products while being reliable and ensuring freshness of products
- In January 2019, Greatview announced that they had agreed for the acquisition of Qingdao Likang Food Packaging Technology Company Limited for an approximate amount of RMB 104.2 million. This acquisition will help the company expand their operating capacity for packaging products and solutions while also improving the presence of Greatview globally. This will also establish Greatview as the second largest aseptic packaging provider for the China region
“According to Data Bridge Market Research, Global Food Packaging Technology - Equipment Market is expected to reach USD 65 billion by 2025, growing at a substantial CAGR during the forecast period of 2018 to 2025”
Some of the major players operating in the market are Duravant, Robert Bosch GmbH, Coesia S.p.A., GEA Group Aktiengesellschaft, I.M.A. INDUSTRIA MACCHINE AUTOMATICHE S.P.A., ISHIDA CO. LTD., MULTIVAC, Nichrome Packaging Solutions, Omori Machinery Co. Ltd., Illinois Tool Works Inc., Tetra Laval International S.A., Adelphi Group, AMF Bakery Systems, Lindquist Machine Corporation, Kaufman Engineered Systems among others
Although the primary usage of packaging technology is for the protection of contents inside the packaging, they are also being used as a valuable marketing tool for product differentiation and improvement of product marketability. This feature is ensuring that the market players do not focus their efforts of increasing their demand with just one marketable features they can help the food manufacturers with better marketing capabilities for their products by providing a better base with the help of innovative packaging solutions
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