Food Packaging Equipment Market to See Promising Growth $19,268 Million by 2023

Food packaging Equipment Market by Equipment, and Application: Global Opportunity Analysis and Industry Forecast, 2017-2023, 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 labelling, decorating, & coding equipment segment accounted for approximately one-seventh share of the global market in terms of revenue.

Food packaging equipment includes machineries that are present in every stage of packaging process. Bottling line, cartoning, case handling, closing, filling & dosing, FFS (form, fill & seal) machinery, labelling, 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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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.

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.

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The global food packaging equipment market is segmented based on equipment, application, and geography. Based on equipment, the market is divided into bottling line; cartoning; case handling; closing; filling & dosing; form, fill & seal; labelling, decorating & coding; palletizing; wrapping & bundling; and others. On the basis of application, the market is classified into meat, poultry & seafood, dairy, bakery & snack, frozen, candy & confectionery, cereal & grain, perishable prepared, and shelf stable. Based on geography, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Growth in the economies in South & Central American countries such as Brazil, Argentina, Costa Rica, and others lead to the growth of packaged food. Brazils large manufacturing base and well-developed agro-export industry are expected to drive the food packaging equipment market. The Brazilian agro-products industry, with a global share of 25% of the global food market, is the key factor that accelerates the market growth.

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Asia-Pacific and LAMEA collectively contributed about half of the global market share in 2016. The key players operating in the global food packaging equipment 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.

Key Findings of the Food Packaging Equipment Market:
Asia-Pacific is expected to maintain its dominant position in the market in terms of value during the forecast period, followed by Europe.
Meat, poultry, and seafood is the largest application segment of the market, registering a significant CAGR from 2017 to 2023.
LAMEA accounted for approximately one-tenth share of the market in 2016.
The Asia-Pacific food packaging equipment market is anticipated to grow at the highest CAGR from 2017 to 2023.
North America accounted for approximately one-fifth share in the market, and is expected to grow at a CAGR of 4.0% during the forecast period.

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