Asia Pacific Food Packaging Technology and Equipment Market was worth $7.47 billion in 2022 and estimated to be growing at a CAGR of 9.32%, to reach $ 11.67 billion by 2028. A huge number of packaging equipment are working in the food industry. Packaging equipment are used to perform certain properties like filling, bagging, sealing, wrapping, bundling, cartooning, over-capping, lidding, labelling, decorating, coding, conveying, and palletizing.
Growth in technology has led to the rise of advanced food packaging equipment to maintain the efficiency, flavour, and taste of food products. Labelling, decorating, and coding equipment accounted for the maximum revenue in market growth for distinguishing the product by branding, decorating, providing information, and tracking. Thus, product identification and brand protection fuels the demand for labelling, decorating, and coding equipment. The multiplicity of form, fill, & seal (FFS) machine allows packaging of wide range of materials of various sizes and shapes.
Increase in alertness concerning healthy and clean food product and its expectancy to be clean and safe from the point of packaging to point of delivery is driving the market growth. Increase in demand for beautiful, innovative, and convenient-to-carry packaging for separating the product from the rest is expected to increase the growth of the market. Moreover, rise in purchasing power, increase in number of online grocery orders and wide consumer base of on-the-go consumer further increases the demand for packaging, which in turn is expected to drive the market. High investment for machinery and travelling are the restraints in this market.
Asia Pacific Food Packaging Technology and Equipment Market Segmentation Analysis:
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.
In 2016, Asia-Pacific was the largest revenue donor to the global market, due to the growth in awareness and increase in adoption of packaged foods. There is an increase in the earnings, and thus increase in expenditure. Growth in young population in countries such as India, China, and Indonesia, majorly propels the demand for online food services leading to the growth in packaged foods. Busy lifestyle and rise in standard of living fuel the growth of the food packaging equipment market. In 2016, China is expected to dominate the market in terms of revenue, accounting for 46.0% share in Asia-Pacific. Asia-Pacific has a share of 16% of the global market.
Key Players in the Market:
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.
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