Food Packaging Equipment Market 2023 Detailed Analysis and Huge Growth by Top Players- Arpac LLC, Ishida, Multivac, Inc

The worldwide market for food packaging equipment was worth $16,901.0 million in 2020 and is predicted to reach $33,148.2 million by 2031. This represents a compound annual growth rate (CAGR) of 6.3% between 2022 and 2031. Among the different segments, the shelf stable segment generated the most revenue, bringing in $4,209.8 million in 2020. It is expected to reach $7,106.9 million by 2031, with a CAGR of 4.8%.

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The market for equipment used in packaging food consists of machines used at various points in the packaging process. These machines carry out different tasks such as bottling, cartoning, handling cases, sealing, filling and measuring, form-filling and sealing (FFS), labeling, decorating, coding, palletizing, wrapping and bundling, and more. One of the key industries driving the demand for food packaging equipment is the food and beverage industry. The forecast period is expected to see growth due to factors like purchasing power parity, industrial development, and the increased use of automated technology.

The main participants involved in the worldwide market for food packaging machinery consist of 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.

Categorically, the market is segmented into meat, poultry & seafood, dairy, bakery & snack, frozen, candy & sweets, cereal & grain, perishable prepared, and shelf stable products based on their specific uses. In the year 2020, meat, poultry, and seafood processing equipment dominated the overall food processing equipment market. This segment's significant presence can primarily be attributed to the increased demand for processed meat items, the growth of urban areas and disposable incomes, and consumer preferences for protein-packed foods and convenient meal options.

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The market can be divided into two categories - offline and online - based on how products are distributed. When it comes to buying food packaging equipment, traditional methods like visiting a physical store are still the preferred choice for most people. This is because buying in person allows customers to examine the product firsthand and get a true sense of its appearance and quality. Additionally, manufacturers often offer equipment trials to help customers gain a better understanding of the food packaging machinery.

The long-lasting goods category had a stronghold on the market.

In terms of usage, the preserved shelf section dominated the majority portion in 2021, making up nearly 25% of the worldwide market for packaging equipment in the food industry. This is because these kinds of foods require additional packaging measures. However, it is predicted that the meat, poultry, and seafood category will exhibit the highest compound annual growth rate (CAGR) of 7.9% from 2022 to 2031. This is due to the high rate of consumption and the widespread availability of diverse products all over the world.

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Based on the ways products are sold, the market can be divided into two categories: offline and online. In-person methods of purchasing food packaging equipment are still highly favored. Buying items physically allows buyers to have a more accurate sense of what the product actually looks and feels like. Additionally, manufacturers often offer equipment trials to provide a better understanding of the food packaging equipment.

Tags and identifiers are utilized on all sorts of food items for identification, ornamentation, dissemination of details, and monitoring purposes. These encompass advanced ink-jet coders that imprint barcodes, visuals, and textual content onto containers. Additionally, there is a diverse selection of label applicators that affix labels onto bottles, boxes, and pallets, featuring top-notch graphics, textual content, and barcodes. This ensures safeguarding against unauthorized interference.

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The market is predicted to witness Asia-Pacific as the leading region in terms of value throughout the forecast period, closely followed by Europe.

In 2020, the market experienced significant growth in the categories of meat, poultry, and seafood, making them the most rapidly expanding segments. The shelf stable segment, on the other hand, played a major role in driving this growth and emerged as the largest contributor to the market.

The food packaging equipment market in the Asia-Pacific region is expected to experience rapid growth in the coming years, with the highest compound annual growth rate (CAGR) projected between 2022 and 2031.

North America represented around 14% of the market, and is projected to experience a compound annual growth rate (CAGR) of 5.4% throughout the predicted timeframe.

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Check out additional findings discovered by AMR Research:

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