Food Packaging Equipment Market Size and Share Surpass $7,106.9 Million By 2031

The Global Food Packaging Equipment Market size was valued at $16,901.0 million in 2020, and is projected to reach $33,148.2 million by 2031, registering a CAGR of 6.3% from 2022 to 2031. The shelf stable segment was the highest revenue contributor to the market, with $4,209.8 million in 2020, and is estimated to reach $7,106.9 million by 2031, with a CAGR of 4.8%.

The increased demand for ready-to-eat natural and organic food products that are very perishable encourage the packaging sector to develop innovative packaging equipment and food safety &hygiene solutions. Thus, the food packaging equipment market is primarily driven by hygienic food packaging.

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Food packaging equipment market includes machines used at each stage of the packaging process. Food packaging equipment that performs distinct packaging functions at different stages of processing includes bottling lines, cartoning, case handling, closure, filling & dosing, FFS (form, fill & seal) machinery, labeling, decorating, & coding, palletizing, wrapping & bundling, and others.

The food and beverage industry is one of the major industries that drive demand for food packaging equipment market share. Purchasing power parity, industrial development, and the adoption of automated technology are all expected to boost growth during the forecast period. The rise in food packaging equipment market demand for appealing and innovative packaging in the food industry for product differentiation; rise in consumption of processed meat, poultry, and seafood; surge in purchasing power, and preference for online grocery shopping all lead to increase in demand for packaged food, which is expected to drive the food packaging equipment market.

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The coronavirus pandemic has had a major impact on the global food packaging equipment market. The virus's unexpected emergence has prompted government officials to adopt strict lockdown restrictions and social separation techniques. The implementation of travel regulations has switched consumer focus to packaged goods and beverages for daily meals. Furthermore, the virus's spread among manufacturing workers has generated labor scarcity issues for manufacturers and production facilities, affecting packaging output.

To meet industrial demand, this factor has stimulated the adoption of modern packaging equipment. Growth in packaging equipment is anticipated to be aided by increased use in the future years. 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.

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