Growth in food packaging technology and equipment

The global food packaging technology and equipment market size is 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

06 Jan 2024 | By Abhay Avadhani

Roadmap of growth of food packaging technology and equipment market from 2022 to 2032

The global food packaging technology and equipment market size to surpass USD 61,550-million by 2029. This market refers to the industry that involves developing, producing, and distributing technology and machinery used in packaging food products. It 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 eCommerce transactions. This surge is attributed to exploring new markets and the increasing prosperity of the global middle-income demographic.

For instance, in May 2023, Syntegon unveils four devices for vertical form, fill, and seal applications across different food industries with its newly created SVX series.

As of the current landscape, North America stands as a leading region in 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.

For instance, in October 2021, ATS Packaging Machinery launched a new line of capping machines for food and beverage applications.

Material trends for food packaging

Biodegradable plastics, for their capacity to disintegrate naturally and reduce environmental impact, have gained traction as a substitute. This shift reflects efforts within the industry to mitigate the ecological footprint associated with traditional plastic packaging.

Paper aligns with the consumer preference for eco-friendly packaging solutions, providing an 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.

Smart technologies in food packaging technology

The emergence of intelligent packaging technologies represents a paradigm shift in how food products are monitored and managed throughout the supply chain. Components of packaging include QR codes, near field communication (NFC), and sensors. QR codes now find application in food packaging by providing consumers instant access to 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. Retailers of food estimate that 31% of food products are thrown out because they decay, resulting in losses of USD 146-bn.

Sensors embedded in intelligent packaging help in real-time monitoring. 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.

For instance, in May 2022, Multivac Group launched the R3 thermoforming packaging machine for the food industry.

Latest Poll

The packaging industry is confused by recycling and sustainability rules in India. What is the biggest challenge?

Results

The packaging industry is confused by recycling and sustainability rules in India. What is the biggest challenge?

Shortcomings in EPR policy

 

21.05%

Inadequate infrastructure

 

10.53%

Shortage of recycling firms

 

21.05%

Lack of consumer awareness

 

47.37%

Total Votes : 19

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