Food Packaging Technology and Equipment Market Size to Reach USD 74,230 Million By 2032
The global food packaging technology and equipment market size anticipated to surge from USD 39,900 million in 2022 to reach USD 74,230 million by 2032, registered at 6.4% CAGR between 2023 and 2032.
Report Highlights: Important Revelation
- Food packaging tech & equipment market valued at USD 74,230 million (2032).
- North America’s leadership weaved into the fabric of food packaging technology and equipment.
- Europe’s progressive approach to sustainable innovation in food packaging technology and equipment.
- Advancements in material trends for food packaging.
- Developments in active and smart technologies transforming food packaging technology.
The global food packaging technology and equipment market size to surpass USD 61,550 million by 2029. The food packaging technology and equipment market refers to the industry that involves developing, producing, and distributing technology and machinery used in packaging food products. This market plays a crucial role in ensuring food items’ safety, quality, and preservation from the point of production to the end of consumption.
The global packaging sector has experienced consistent expansion, driven by an annual average growth of 25% in cross-border e-commerce transactions. This surge is attributed to exploring new markets and the increasing prosperity of the global middle-income demographic. This intricate interplay of elements underscores the critical importance of the food packaging technology and equipment market in facilitating food products’ seamless and secure movement from production facilities to consumers, ultimately ensuring that these items meet the highest safety standards, quality, and environmental responsibility.
- In May 2023, Syntegon unveils four devices for the most popular vertical form, fill, and seal applications across different food industries with its newly created SVX series.
North America’s Leadership Weaved into the Fabric of Food Packaging Technology and Equipment
Within the intricate tapestry of the food packaging technology and equipment market, regional dynamics emerge as a defining factor, shaped by a confluence of economic, technological, and consumer-centric considerations. As of the current landscape, North America stands prominently as a leading region in this dynamic market, its pre-eminence underpinned by a combination of factors that collectively contribute to its robust market position.
Stringent regulatory frameworks further elevate North America’s status within the food packaging technology and equipment market. Regulatory measures designed to ensure the safety and integrity of packaged food products foster an environment where adherence to high-quality standards is imperative. The rigorous regulatory landscape compels industry players to invest in state-of-the-art packaging technologies and equipment that comply with existing standards and position North American products as exemplars of safety and quality on the global stage.
- In October 2021, ATS Packaging Machinery launched a new line of capping machines for food and beverage applications.
- European company Ahlstrom and The Paper People, a sustainable packaging manufacturer, collaborate to produce fibre-based frozen food packaging.
Its unwavering dedication to technological innovation further fortifies the European market’s influence. A hotbed of research and development, Europe continually pushes the boundaries of food packaging technology, setting benchmarks for the global industry. Investments in cutting-edge technologies, including advancements in intelligent packaging, active packaging, and materials science, position European companies at the forefront of innovation. This proactive pursuit of technological excellence enhances the efficiency of food packaging processes and ensures that European products meet the highest safety, quality, and traceability standards.
Advancements in Material Trends for Food Packaging
The tides of industry preference are undergoing a noteworthy shift, fueled by an escalating global consciousness towards environmental sustainability. In response to mounting environmental concerns, there is a discernible surge in the exploration and adoption of sustainable alternatives, marking a departure from the conventional reliance on plastic. Biodegradable plastics, heralded for their capacity to disintegrate naturally and reduce environmental impact, have gained traction as a promising substitute. This shift reflects a conscientious effort within the industry to mitigate the ecological footprint associated with traditional plastic packaging.
- In May 2022, Trioworld introduced the first plastic film approved for frozen food packaging—post-consumer recycled (PCR) film.
Furthermore, a rising momentum favours paper-based packaging, gaining prominence for its biodegradability and recyclability. Paper, a renewable resource, aligns with the growing consumer preference for eco-friendly packaging solutions, providing a viable alternative to mitigate concerns associated with non-biodegradable materials. The versatility of paper in accommodating various printing techniques for branding and information purposes adds an extra layer of appeal for manufacturers and consumers alike.
Developments in Active and Smart Technologies Transforming Food Packaging Technology
Simultaneously, the emergence of intelligent packaging technologies represents a paradigm shift in how food products are monitored and managed throughout the supply chain. Notable components of innovative packaging include QR codes, Near Field Communication (NFC), and sensors. Ubiquitous in retail, QR codes now find application in food packaging by providing consumers instant access to comprehensive product information. This includes details about the product’s origin, ingredients, nutritional facts, and interactive content. NFC technology, facilitating communication between devices in proximity, enhances traceability by allowing consumers to engage with products through their smartphones. These technologies contribute to greater transparency in the supply chain, enabling consumers to make informed choices about the products they purchase. Retailers of food estimate that 31 per cent of food products are thrown out because they decay, resulting in losses of US$146 billion. In the case of counterfeit products, innovative packaging might help prevent losses exceeding US$460 billion.
Sensors embedded in intelligent packaging play a critical role in real-time monitoring, offering a proactive approach to quality and safety assurance. These sensors can measure and transmit data on various parameters such as temperature, humidity, and freshness. For example, in the perishable goods sector, temperature sensors ensure that the cold chain is maintained, preventing spoilage and preserving the integrity of the products from production to consumption. Real-time monitoring facilitated by these sensors enhances supply chain efficiency and enables swift responses to deviations from optimal storage conditions, minimizing compromised products reaching consumers.
- In October 2021, the technology company GEA launched a new food and dairy powder or granule packing range. The new GEA SmartFil M1 has been designed to accommodate various filling configurations for low-capacity applications, catering to the different needs of the food, dairy, and pet food industries.
The advancements in food packaging technology, particularly in active and intelligent packaging technologies, signify a transformative era for the industry. These innovations address critical product shelf life and quality challenges and pave the way for a more transparent and consumer-centric food supply chain. As technology continues to evolve, integrating these solutions is poised to become increasingly sophisticated, further elevating the standards of safety, quality, and efficiency in the food packaging sector.
- In May 2022, MULTIVAC Group launched the R3 thermoforming packaging machine for the food industry. It is designed to be a cost-effective and sustainable packaging machine for the future.
Revolutionizing Packaging Efficiency with Vertical Form Fill and Seal Machines
Vertical Form Fill and Seal (VFFS) packaging machines have become indispensable across diverse industries, and their widespread adoption is rooted in their efficiency and cost-effectiveness. These machines prove to be optimal packaging solutions, maximizing the utilization of limited factory floor space.
Browse More Insights of Towards Packaging:
- The global recyclable packaging market size accounted for USD 28.7 billion in 2022 and it is predicted to hit around USD 46.15 billion by 2032, growing at a CAGR of 4.9% from 2023 to 2032.
- The global pharmaceutical packaging market size is estimated to grow from USD 117.23 billion to reach an estimated USD 322.50 billion by 2032, growing at a CAGR of 10.7% from 2023-2032.
- The e-commerce packaging market size is estimated to grow from USD 51,248 million in 2022 to reach an estimated USD 2,42,061 million by 2032, at a growing CAGR 16.8% from 2023 to 2032.
- The global pharmaceutical temperature-controlled packaging solutions market size was valued at USD 578.9 million in 2022 and is predicted to reach around USD 945.2 million by 2030, growing at a 6.30% CAGR from 2022 to 2030.
- The global protective packaging market size has reached USD 30,904.05 million in 2023 is expected to reach USD 46,243.03 million by 2032, at CAGR of 4.6% from 2023 to 2032.
- In November 2023, SEE has unveiled the introduction of the CRYOVAC CE Vertical Form-Fill-Seal System. It is cutting-edge automated packaging solution is meticulously crafted to address the distinctive needs of liquid products.
The food packaging technology and equipment market is characterizing characterized competition among key industry players, including Arpac LLC, Oyster Holding GmbH, Bosch Packaging Technology, GEA Group, Coesia Group, Innovia Filmckner Pentaplas, Ishida Co. Ltd, MULTIVAC Group, Omori Machinery Co. Ltd., Nichrome India Ltd., Robert Bosch GmbH, Lindquist Machine Corporation, and IMA Group. These entities are making significant investments in manufacturing Food Packaging Technology and Equipment solutions. Notably, industry leaders are adopting inorganic growth strategies such as acquisitions, mergers, partnerships, and collaborations to augment their product portfolios, thereby contributing to the global expansion of the Food Packaging Technology and Equipment market.
Major Key Players in the Food Packaging Technology Market Include:
- Arpac LLC
- Oyster Holding GmbH
- GEA Group
- Bosch Packaging Technology
- Coesia Group
- Innovia Filmckner Pentaplas
- Ishida Co. Ltd
- MULTIVAC Group
- Nichrome India Ltd.
- Robert Bosch GmbH
- Omori Machinery Co. Ltd.
- Lindquist Machine Corporation
- IMA Group
- In March 2023, Cepac, the UK’s most inventive and active corrugated packaging company, purchased EW Cartons, a sustainable corrugated tray manufacturer.
- In May 2023, Amcor, a leader in developing and producing sustainable packaging solutions globally, said that it had finalized a deal to purchase Moda Systems, a top producer of automated, cutting-edge protein packaging equipment.
- In August 2023, The Oregon-based GEM Equipment, which produces fryers and blanchers, was acquired by the international freezing and cooling equipment manufacturer FPS Food Process Solutions.
- In August 2023, The UK-based food company Regal Food Products Group announced that it acquired Packaging ‘R’ Us, a supplier of disposable food packaging solutions.
- In December 2023, The Packaging Development Centre, worth US$10.8 million, was officially opened by SIG on the location of the company’s packaging facilities in Linnich, Germany.
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