According to Precision Business Insights (PBI), latest report, the food packaging machinery market is expected to be worth USD 17,792.5 million in 2022, growing at a CAGR of 6.5% from 2022 to 2028. Single-serving or packaged food products are increasing due to longer work and commute times, smaller homes and other factors. A variety of products, including snacks, meat and poultry products, candies, chocolates, sauces, processed fruits and vegetables, and dairy products, are in demand for the technology and equipment of food packaging due to convenient packaging features like easy opening, portability, resealability, micro-perforation, lightweight and easy to handle. The growing demand for adequate food packaging has forced food packaging machinery producers to conduct research and development (R&D) and develop new technologies. Additionally, they prioritize creating food packaging with specific handling features for usability.
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Form, Fill & Seal Equipment Segment to Dominate the Food Packaging Machinery Market:
The form, fill and seal equipment segment is expected to account for a larger revenue share in the global food packaging machinery market with value share across the globe. It is expected to grow at a CAGR of 7.2% between 2022 and 2028. The forming, filling and sealing industry is expected to grow rapidly over the projection period. This wrapping device offers high wrapping speed and consistency. Moreover, it is cost-effective because handmade bags cost less than ready-made bags. It increases production, allowing the worker to reduce the number of shifts.
Asia-Pacific Food Packaging Machinery Market:
The Asia-Pacific market is expected to rise in the global food packaging machinery market over the forecast period. It is expected to grow at a CAGR of 7.5% in the coming years. Due to the growing popularity of packaged food in the region, APAC is expected to be the region with the largest contribution to the global food packaging equipment market. Additionally, the region’s demand for packaged food has increased as disposable income has increased. It is predicted that developing countries like India and China will drive the demand for online meal delivery services, thereby increasing the demand for food packaging. Over the next ten years, this factor is expected to drive the global food packaging equipment market.
Strategic new product launches, mergers, acquisitions, and agreements are the major strategies adopted by market players:
Global Food Packaging Machinery Market further reveals that major players are increasingly adopting strategies such as new product launches, product launches, and long-term alliances to enhance market revenue share and acquire a significant geographical presence in the region.
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The food packaging machinery market is segmented on the basis of machine type, technology, and geography.
Based on Machine Type, the market is segmented as follows:
• Horizontal forming, filling and sealing equipment
• Vertical forming, filling and sealing equipment
• Thermoforming equipment
• Modified atmosphere packaging equipment
• Automated loading equipment
On the basis of technology, the market is segmented as follows:
Based on geography, the market is segmented as follows:
• North America
• Latin America
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Key players in food packaging machinery 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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