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Food Packaging Equipment Market is Expected to Garner $19,268 Million by 2023 - Leading Industry Players Profiled Such as Arpac LLC, Bosch Packaging Technology, Coesia Group, GEA Group, IMA Group, Ishida, Multivac Inc.

01-04-2019 12:36 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Allied Market Research

Food Packaging Equipment Market is Expected to Garner $19,268

The global food packaging equipment market was valued at $14,740 million in 2016 and is projected to reach $19,268 million by 2023, registering a CAGR of 4.0% from 2017 to 2023. In 2016, the labeling, decorating, & coding equipment segment accounted for an approximately one-seventh share of the global market in terms of revenue.

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The growth in demand for attractive and innovative packaging in the food industry for product differentiation; rise in consumption of processed meat, poultry, and seafood; increase in purchasing power and rise in preference of online shopping of grocery leads to increase in demand for packaged food, which in turn is expected to drive the food packaging equipment market.

Food packaging equipment includes machinery that is present in every stage of the packaging process. Bottling line, cartooning, case handling, closing, filling & dosing, FFS (form, fill & seal) machinery, labeling, decorating, & coding, palletizing, wrapping & bundling, and others are some types of food packaging equipment that perform different packaging functions at different stages of processing.

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In 2016, labeling, decorating, & coding equipment accounted for the highest revenue growing at a significant CAGR of 5.2% from 2017 to 2023. Labels and codes are used on every kind of food product to brand, decorate, provide information, and track products. It consists of high ink-jet coders for printing barcodes, graphics, and text on cartons. Also, it has a wide array of print and applies labelers for labeling bottles, cartons, and pallets with high-resolution graphics text and barcodes. This provides protection against tampering.

Whereas, the high cost of development and installation of food packaging equipment in most of the developing countries, stringent legislation for food safety and energy-inefficient packaging equipment and machinery hamper the market growth. Growth in the packaged food industry in emerging economies such as China, India, Indonesia, and Brazil make way for growth opportunity.

Analyst Says,

Increase in demand for ready-to-eat natural and organic food products that are highly perishable promoted the packaging industry to come up with new packaging equipment and solutions for food safety and hygiene. Thus, hygienic packaging of food majorly drives the food packaging equipment market.

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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 domain.

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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