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Business Growth, Development Factors, Application and Future Prospects

Business Growth, Development Factors, Application and Future Prospects

Posted on July 20, 2022 By NewsEditor
Business Growth, Development Factors, Application and Future Prospects

Food Packaging Equipment Market

Rise in urbanization and increase in number of supermarket and hypermarkets have boosted the growth of the global food packaging equipment market.

PORTLAND, OR, UNITED STATES, July 19, 2022 /EINPresswire.com/ — As per the report, the global food packaging equipment industry was accounted for $18.25 billion in 2021, and is expected to reach $33.14 billion by 2031, growing at a CAGR of 6.3% from 2022 to 2031.

Drivers, restraints, and opportunities

Rise in urbanization and increase in number of supermarket and hypermarkets have boosted the growth of the global food packaging equipment market. However, rise of counterfeit food packaging hampers the market growth. On the contrary, advancement in technology and rise in awareness regarding component and content of packaging box would open new opportunities for the market players in the future.

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Covid-19 scenario:

The Covid-19 pandemic led to reduced demand for certain types of packaging due to lockdown restrictions and increased the demand for packaging equipment for e-commerce shipment.
However, the ease in restriction and rise in demand for logistics and packaging equipment would help the market get back on track.
The case handling segment held the largest share

By equipment type, the case handling segment held the largest share in 2021, accounting for nearly one-sixths of the global food packaging equipment market. However, the form, fill & seal segment is expected to register the highest CAGR of 8.5% during the forecast period, owing to fast speed and constant packing rate.

The shelf stable segment dominated the market

By application, the shelf stable segment held the lion’s share in 2021, contributing to nearly one-fourth of the global food packaging equipment market, as these foods demand extra packaging requirements. However, the meat, poultry & seafood segment is estimated to manifest the highest CAGR of 7.9% from 2022 to 2031, due to high consumption rate and wide availability of various products across the globe.

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Asia-Pacific, followed by Europe and North America, held the largest share

By region, the market across Asia-Pacific, followed by Europe and North America, dominated in 2021, holding around two-fifths of the global food packaging equipment market. In addition, the region is projected to portray the highest CAGR of 7.2% during the forecast period, owing to product’s widespread application in end-use sectors and rise in local manufacturing and consumer income.

Major market players

Arpac LLC
Bosch Packaging Technology
Coesia Group
GEA Group
IMA Group
Ishida
Multivac, Inc.
Nichrome India Ltd.
Omori Machinery Co. Ltd.
Oystar Holding GmbH.

Similar Reports:
Food Processing Machinery Market Expected to Hit $93,737.1 Million by 2031
Seafood Processing Equipment Market to Reach $3,478.6 million by 2026

Upcoming Reports:
Food Delivery Logistic Market: https://www.alliedmarketresearch.com/food-delivery-logistic-market
Dairy Processing Equipment Market: https://www.alliedmarketresearch.com/dairy-processing-equipment-market
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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Allied Analytics LLP
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July 19, 2022, 09:28 GMT


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Article originally published on www.einpresswire.com as Business Growth, Development Factors, Application and Future Prospects

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