(MENAFN- GetNews) According to a new report published by Grand View Research, the food and beverage industry is among the prominent factors propelling the market demand.
The global food packaging equipments market size is estimated to surpass USD 60.40 Billion by 2025 . It is anticipated to expand at a CAGR 4.87% over the forecast period. Growing demand for convenient, packaged, processed, and ready-to-eat food products is favoring the packaging industry, especially in emerging regions like Asia Pacific. This factor is anticipated to bode well for market growth in the forthcoming years.
Increasing awareness among consumers regarding packaging, hygiene, and nutritional value of food coupled with rise in demand for dairy, bakery, confectionery, meat, poultry, seafood, and allied products is anticipated to trigger the market growth. In addition, rising investments for developing efficient manufacturing units for packaging equipment is predicted to encourage growth of the food packaging equipment market over the forecast timeframe. Government regulations regarding manufacturing materials and processes along with secure work environment and product standardization is expected to further drive the growth.
The filling and dosing equipment segment is expected to register significant CAGR over the forecast period. Product standardization, quality, and value-added engineering in manufacturing processes offer competitive advantage to the manufacturers in the market. The shift in dietary habits, westernization in lifestyle and food consumption supported by inclination of consumers towards ready-to-eat and packaged food is projected to augment the demand for packaging equipment favoring food packaging equipments market.
Russia is expected to attain USD 5.40 Billion by 2025. Increasing industrial automation, purchasing parity power and shifts in the dietary habits are some of the reasons that are expected to propel the market growth. India was valued at USD 3.01 Billion in 2017. Bakery and confectionary and convenience food application is forecasted to have significant market share in 2017. The growth of Indian market for food packaging equipment is driven by rapid infrastructural development, change in lifestyle, health consciousness, healthy food habits, and other macroeconomic factors.
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Food Packaging Equipment Market Report Highlights
• Filling and dosing equipment is expected to lead the equipment segment with a CAGR of 4.99% over the forecast period, owing to ongoing research in packaging automation, adoption of Industry 4.0, and technological advancements
• Dairy product is expected to emerge dominant application segment and expand at a CAGR of 4.99% over the forecast period
• Canada Food Packaging Equipment market is expected to expand at a CAGR of 5.72% over the forecast period, owing to favorable market opportunities, industrialization, and supportive government policies
• Key market players are Bosch Packaging Technology GmbH, GEA Group Aktiengesellschaft, Coesia S.p.A., MULTIVAC Group, and ARPAC LLC among others.
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Food Packaging Equipment Market Segmentation
Grand View Research has segmented the global food packaging equipments market based on equipment, application, and region:
Food Packaging Equipments Outlook (Revenue, USD Billion, 2014 – 2025)
• Filling & Dosing
• Case Packing
• Wrapping & Bundling
Food Packaging Equipments Application Outlook (Revenue, USD Billion, 2014 – 2025)
• Bakery & Confectionary
• Dairy Products
• Fruits, Nuts & Vegetables
• Meat, Poultry & Seafood
• Convenience Food
Food Packaging Equipments Regional Outlook (Revenue, USD Million, 2014 – 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
• Saudi Arabia
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About Grand View Research
Grand View Research is a market research and consulting company registered in the State of California having its headquarters in San Francisco. The company offers syndicated research reports, customized research reports, and consulting services. With Grand View Research, you get an opportunity to understand market trends, insights, and business statistics from a strategic standpoint. With a deep-seated understanding of many business environments, Grand View Research offers business and market intelligence studies and accomplishes more than 300 multi-country market studies.
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