(Entertainment-NewsWire.com, September 13, 2017 ) North America Food Packaging Technology Market was worth $17.74 billion in 2016 and estimated to be growing at a CAGR of 10.695%, to reach $ 29.49 billion & Food Packaging Equipment Market was worth $ 5.6 billion in 2016 and estimated to be growing at a CAGR of 7.456%, to reach $ 8.02 billion by 2021.
Packaging is a process based on the technological equipment used for protecting products, avoid contamination, ease the distributing process and to differentiate the brand and the types of products. The global markets for Technology and Equipment market are growing very rapidly because of increasing health concerns in consumers and strict food-safety rules. People all over the world are worried about food-related health diseases, packed food has become more popular, since many consumers view these goods as safer alternatives to non-packaged foods. Convenience food has become trend in the food-packaging equipment and technology market. Due to the different types of food-packaging technology, controlled packaging has the largest market share in the form of fill, and seal holding the majority of the market for food-packaging equipment.
Rise in demand for exports and imports among the countries, increase in population, busy professional lifestyle, Food quality sustainability and increasing shelf life are the two important factors for the growth of Food Packaging Technology & Equipment Market. In addition to strict food safety regulations, growing health concerns among consumers will also drive food packaging technology. The growth in preference of consumer for protein rich food has led to the increased consumption of meat and sea food. Large on-the-go consumer base has led to rise in demand for frozen foods. A high capital investment for the machinery is restraining the growth of the food packaging technology & equipment market to some extent.
Food packaging involves various processes, types of equipment, and applications. It is segmented by Technology, by Equipment, by Application and by region. Food Packaging Technology Market, by Type is segmented into Controlled packaging, Active packaging, Advanced packaging, Intelligent packaging, Aseptic packaging and others. Food Packaging Equipment Market, by Type is segmented to Form, fill and seal, Labelling & coding, Wrapping, Case packing and Other machinery. On the basis of Application, the market is segmented into Dairy products, Bakery & confectionery, Poultry, seafood & meat products, Convenience foods, Fruits & vegetables and Others. On the basis of region, the market is segmented into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa.
The North America market has been geographically segmented into segmented into US and Canada. As of 2016, North America leads Food Packaging Technology & Equipment Market, accounting for more than 38% of the entire market share. The technological advancements in this region, increased government funding focused on enhancing the packaging facility is the prime growth driver for the market in this region.
Top companies in this Food Packaging Technology and Equipment market are Arpac LLC, Ishida, Bosch packaging technology, GEA Group, Coesia Group, Multivac, Inc., IMA Group, Omori Machinery Co. Ltd., Nichrome India Ltd, Oystar Holding GmbH., Nichimo Company Limited, Satake Corporation, Meyer Industries Incorporated, Odenberg Engineering, and Nordischer Maschinenbau Rud Baader.
The scope of the report: Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis Study the micro environment factors that determine the overall profitability of an Industry, using Porters five forces analysis for analysing the level of competition and business strategy development A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis, and main conclusions Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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