Food Packaging Technology and Equipment: Global Scenario and Market Highlights

An increase in demand for quality food and shifts toward convenience food products drive the market for food packaging technology and equipment.

The food packaging technology & equipment market has undergone various innovative changes owing to the rising food safety awareness among consumers and the introduction of packaging technologies such as modified atmosphere packaging and anti-counterfeit packaging. The global food packaging technology market was estimated at USD 41.4 billion in 2018, while the global food packaging equipment market recorded an estimated USD 19.7 billion in 2018. The North American region is projected to dominate the global food packaging technology market due to the growing consumer preference for environmentally friendly packaging materials, which resulted in the development of new technologies such as biodegradable and edible packaging. Asia Pacific is projected to dominate the global food packaging equipment market due to the rapid economic development of countries such as China and India in this region. The European food packaging technology & equipment market is expected to witness steady growth as the market is well-established. South America is expected to witness significant growth due to the technological advancements of the food industry in countries such as Brazil and Argentina.

Food packaging technology

Source: Secondary Research, Primary Interviews, Industry Journals, Related Research Publications, Press Releases, and MarketsandMarkets Analysis

By type, the controlled segment is projected to hold the largest market share

Based on type, the food packaging technology market is segmented into controlled, active, aseptic, intelligent, biodegradable, and others (edible and nano-enabled technology). The controlled segment is projected to hold the largest market share during the forecast period as it prevents the oxidation of the food product, thereby extending its shelf life without using any harmful additives. Furthermore, it keeps the food color intact, maintaining its visual appeal. 

The plastics segment is projected to grow at the highest CAGR during the forecast period

Based on material, the food packaging technology market is segmented into plastics, paper & paperboard, metal, glass & wood, and others (polysaccharides, proteins, and lipids). The plastics segment is projected to grow at the highest CAGR of 7.4% during the forecast period due to its low cost and easy availability. Furthermore, durability, safety, and lightweight features of plastics have made them a popular choice for the packaging of food products among manufacturers. Additionally, a wide range of synthetic and semi-synthetic plastic material with different chemical compositions for different food products propels the demand for plastic packaging.

By type, the form-fill-seal segment is projected to hold the largest share of the food packaging equipment market during the forecast period

Based on type, the food packaging equipment market is segmented into form-fill-seal, filling & dosing, cartoning, case packing, wrapping & bundling, labeling & coding, inspecting, detecting, and check weighting, and others (palletizing, cleaning, and capping & sealing machines). The form-fill-seal segment is projected to hold the largest market share during the forecast period due to its application in a wide range of products such as bakery, confectionery, dairy, meat, poultry, and convenience food. 

The convenience foods segment is projected to grow at the highest CAGR during the forecast period

The food packaging technology market is segmented into convenience foods, poultry, seafood, and meat products, bakery products, dairy products, confectionery products, fruits & vegetables, and others (sauces & dressings and condiments). The convenience foods segment is projected to grow at the highest CAGR during the forecast period due to the increasing consumer demand for ready-to-eat food products brought on by busy lifestyles. The affordability of these products also drives the demand for packaged food products.

Asia Pacific is projected to grow at the highest CAGR during the forecast period

Asia Pacific is projected to grow at the highest CAGR for the food packaging technology and equipment market at CAGR of 7.0%-8.0%for both the market, due to the rising consumption of packed food products owing to rapid economic development in countries such as China and India; this is projected to propel the demand for food packaging technology and equipment.

Key Players:

Some of the major players in the food packaging technology and equipment market are Robert Bosch (Germany), GEA Group (Germany), IMA Group (Italy), COESIA (Italy), Ishida (Japan), ARPAC (US), MULTIVAC (Germany), Omori Machinery (Japan), Nichrome India Ltd. (India), Adelphi Group (UK), Kaufman Engineered Systems (US), and Lindquist Machine Corporation (US).