Product ID: SQMIG15H2043
Global Food Packaging Equipment Market Size, Share, Growth Analysis, By Equipment(Filling, Bottling), By Application(Bakery and Confectionery Products, Meat and Poultry Products) - Industry Forecast 2024-2031
Report ID:
SQMIG15H2043 |
Region:
Global |
Published Date: March, 2024
Pages:
184
|
Tables:
65 |
Figures:
65
Global Food Packaging Equipment Market Insights
Global Food Packaging Equipment Market size was valued at USD 20.10 billion in 2022 and is poised to grow from USD 20.82 million in 2023 to USD 27.63 billion by 2031, growing at a CAGR of 3.6% in the forecast period (2024-2031).
Within the realm of the food packaging industry, food packaging machinery assumes a pivotal role encompassing labeling, sealing, palletizing, and amalgamation tasks. These sophisticated machines find applications across bakery, beverage, and meat processing sectors. Industry players are diligently crafting advanced technology-driven products to elevate user experiences. A case in point is Tetra Pak's recent announcement in April 2019, introducing a groundbreaking connected packaging platform that transforms milk and juice cartons into interactive information conduits, revolutionizing user engagement.
The food industry operates within a stringent regulatory framework to ensure an environment of safety and hygiene during the packaging process. Governments worldwide are enacting various laws and regulations concerning food equipment hygiene due to escalating apprehensions surrounding foodborne illnesses. In 2011, the Food and Drug Administration (FDA) instituted the Food Safety Modernization Act (FSMA), granting the FDA authority for recall, production suspension, and foodservice provider audits. Similarly, the European Union (EU) introduced the 'food contact materials' safety concept, mandating that materials like packaging, processing machines, cutlery, and dishes that interact with food adhere to stipulated EU government requirements. This directive encourages food manufacturers to design and implement equipment with meticulous consideration for food hygiene, thus fortifying the industry's commitment to maintaining the highest standards of safety and quality.
US Food Packaging Equipment Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Food Packaging Equipment Market Report Snapshots
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