Food Packaging Technology & Equipment Market to Reach $71.56 Billion by 2032

The Brainy Insights has recently released a research report on the global food packaging technology & equipment market.

Food Packaging Technology & Equipment Market According to the report, the global food packaging technology & equipment market was valued at USD 41.03 billion in 2022 and is anticipated to grow at a CAGR of 5.72% between 2023 and 2032. A major factor driving the market growth is the changing consumer preferences towards packaged food. Avinash D., a consultant from Brainy Insights, says “Consumption patterns changed due to the hectic urban lifestyle and shift in income patterns, leading to increased demand for packaged foods. This has led to an increased demand for food packaging technology & equipment which are designed to deliver fresh and quality food to customers." Rising demand for convenience foods, increasing disposable incomes, and the growing demand for ready-to-eat meals are some of the other factors driving the market growth. The growth of e-commerce channels and the emergence of new packaging designs such as stand-up pouches to reduce the packaging costs and improve the shelf-life of food products are also aiding the market growth. The global food packaging technology & equipment market is segmented on the basis of product, end-user, and region. By product, the global food packaging technology & equipment market is segmented into solid packaging equipment, liquid packaging equipment, and specialty packaging equipment. The solid packaging equipment segment is expected to dominate the market owing to the increasing demand for frozen foods and bakery products such as confectionery, snacks, and cookies. Geographically, the global food packaging technology & equipment market is divided into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. Asia-Pacific is estimated to contribute the most to the market share owing to the increasing consumption of convenience food and rising disposable incomes in the region.

The global food packaging technology & equipment market is projected to grow at a CAGR of 5.72% between 2023 and 2032, driven by the increasing demand for convenience foods, rising disposable incomes, and the growing demand for ready-to-eat meals, particularly in the Asia-Pacific region.

The Brainy Insights offers a wide range of research reports that provide deep insights into the food packaging technology & equipment market, along with key market opportunities & challenges.