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The global food packaging equipment market size is projected to reach USD 23.03 billion by 2027 owing to rising number of smart food processing plants in developed nations, finds Fortune Business Insights™ in its report, titled “Food Packaging Equipment Market Size, Share & COVID-19 Impact Analysis, By Equipment Type (Filling, Bottling, Case Cartoning, Labeling and Palletizing), By Application (Bakery and Confectionery Products, Meat and Poultry Products, Dairy Products, Beverages and Others) and Regional Forecast, 2020-2027”. According to the report, the value of the global market stood at USD 17.43 billion in 2019 and is expected to register a CAGR of 3.6% from 2020 to 2027.
The COVID-19 pandemic is anticipated to have a mixed impact on the food packaging equipment market growth in 2020. On one hand, fears surrounding packaged foods transmitting the infection are growing; on the other hand, food packaging companies are taking all efforts to adhere to the safety norms imposed by governments to ensure hygiene in factories to prevent the spread of the coronavirus.
Tetra Pak Joins EU’s European Alliance for Green Recovery
Amid the exponential spread of the coronavirus, Tetra Pak announced that it will be joining the European Alliance for a Green Recovery, launched by the European Parliament in April, in May 2020. The aim of the alliance is build a more sustainable economy once the COVID-19 pandemic is over, with stakeholders formulating plans related to fighting against climate change, protecting biodiversity, and building resilient food supply chains across Europe between 2021 and 2027. Tetra Pak, as a leading organization in the food packaging industry, will provide insights and advance ideas to establish sustainable food safety and security systems.
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Innovative Food Packaging Equipment for Meat & Confectionery Items to Boost the Market
One of the prominent factors fueling the food packaging machinery market growth is the increasing availability of innovative packaging equipment for meat and confectionery items. Companies are using next-gen technologies to ensure efficient packaging of meat items. For example, the Italy-based packaging equipment company, minipack®-torre, utilizes vacuum packaging machines to store meats for longer periods, without them losing their nutritional properties. Similarly, US-based Combi Packaging Systems has engineered semi- and fully-automatic machines for packaging ready-to-eat meat and poultry foods. Confectionery packaging machineries are also on the rise, especially in Europe. For instance, at interpack 2020, the German packaging specialist, Theegarten-Pactec, unveiled its next-gen machine for primary packaging of small-sized confectionery foods, which will set a new benchmark of efficiency in the packaging industry.
Key Players to Focus on Catering to Multiple Aspects of Food Packaging Process
The processes involved in the packaging of foods and beverages are multifarious in nature and entail a host of small-scale operations. Key players in the food packaging technology and equipment are in a constant quest to develop machineries that are well-optimized and automated to efficiently perform these operations. Furthermore, many of the leading companies are calibrating their equipment to process recyclable materials to bring about sustainability in the food packaging industry.
Industry Development:
List of Key Companies Covered in this Market Report:
Further Report Findings:
Table of Segmentation:
ATTRIBUTE | DETAILS |
Study Period | 2016-2027 |
Base Year | 2019 |
Forecast Period | 2020-2027 |
Historical Period | 2016-2018 |
Unit | Value (USD Billion) |
Segmentation | By Equipment Type
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By Application
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By Region
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