Europe Tray Sealing Machines Market to exhibit a CAGR of 6.1% between 2022 and 2031

The demand for tray sealing machines will increase going forward, albeit gradually, and is predicted to reach 38,024 Units by the end of 2021, despite stagnating sales during COVID-19. In terms of volume, the market is anticipated to grow at a 4.8% CAGR during the forecast period.

Through 2021, the tray sealing machine market will experience excellent growth, with global revenues rising 4.6 percent between 2020 and 2031. Tray sealing machine revenues are expected to almost double between 2021 and 2031, reaching close to US$ 4.9 Bn in 2031 with a ten-year compound annual growth rate (CAGR) of 6.0 percent.

The consumption of tray sealing machines are estimated to increase owing to a wide scale of applications including meat, poultry and seafood, bakery and confectionery, fresh produce, ready meals, sweets and dry fruits among others.

Tray sealing machines are preferred with Modified Atmospheric Packaging (M.A.P.) packaging formats to ensure product quality. Therefore, this segment is estimated to grow by two times of the current value, by the end of 2031.

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Key Takeaways from Tray Sealing Machines Market

The sales of automatic tray sealing machines can be attributed to reducing downtime while boosting productivity accounting for more than 44%of the global market by 2031.
Meat, poultry and seafood applications are expected to create an incremental opportunity of US$ 796.7 Mn by 2031, owing to use in the frozen product sector.
Germany holds the lead in Europe with a valuation of US$ 138 Mn in 2021, owing to a prominent manufacturing sector.
Canada reflects an above average growth, and is expected to account for 20% of the North America market by 2031.
China will hold around 72% of the East Asia market, supported by growing consumer preference for processed foods.
 "Tray sealing machines are gaining traction, especially in the food industry with demand for improvements in shelf life of processed and packaged food and higher prospects of impulse purchases. Market across Asia will emerge as highly lucrative, steered by expansion of food courts, restaurants and giant food-chains, through 2031," says an FMI analyst.

Impact of COVID-19 on Tray Sealing Machines Market

Amid the COVID-19 crisis, the demand from the manufacturing industry has declined. The growth of the tray sealing machines market has moderately impacted applications in packaged food products.

On the other hand, consumers are concerned about hygienic packaging which has created opportunities for meal tray producers. Recovery from this pandemic is expected to maximise the demand for tray sealing machines in the coming years.

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Who is Winning?

Leading players in the tray sealing machines market are largely focused on investments into product development and capacity expansion to consolidate their position in a competitive environment.

AptarGroup, Inc,
John Bean Technologies Corporation (JBT),
Omori Machinery Co., Ltd,
ISHIDA CO., LTD
are the top players operating in the tray sealing machines market. Tier 3 players include

ILPRA SPA,
Robert Reiser & Co., Inc,
ProMach, Inc,
Valko s.r.l.,
Packaging Automation Limited,
Starview Packaging Machinery Inc.
which hold 70-75% in the global tray sealing machines market.

Tray Sealing Machines Market by Category

By Technology:

Automatic
Semi-automatic
Manual
By Application Type:

Meat, Poultry & Seafood
Bakery & Confectionary
Fresh Produce
Ready Meals
Sweets & Dry Fruits
Others
By Operating Speed:

Upto 3 CPM
4 CPM to 8 CPM
9 CPM to 12 CPM
Above 12 CPM
By Packaging Type:

Modified Atmospheric Packaging (MAP)
Vacuum Skin Packaging (VSP)
General Sealing
By Region:

North America
Latin America
Europe
South Asia
East Asia
MEA
Oceania
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This release was published on openPR.