The Food Packaging Equipment Market is projected to experience a compound annual growth rate (CAGR) of 6% from 2022 to 2029, reaching a value of $25.37 billion. By volume, the market is anticipated to grow at a CAGR of 8%, achieving 12,131.3 thousand units by 2029. Key drivers of this growth include the increasing integration of automated technologies, the demand for hygienic food packaging, and food manufacturers’ focus on efficient packaging solutions. Moreover, the expansion of the packaged food sector in emerging economies and the rising use of packaging for product differentiation offer significant opportunities for industry players.
However, challenges persist, such as the high costs of advanced packaging solutions and stringent environmental regulations that may impede growth. Issues like recycling multilayer films and the shortage of skilled personnel also pose obstacles for the global food packaging equipment market.
The market is categorized by type, application, and geography. It encompasses various types of equipment, including form-fill-seal, cartoning, filling & dosing, wrapping & bundling, case packing, and labeling & coding machinery. The form-fill-seal equipment segment is projected to dominate the market, attributed to its speed and versatility, with vertical form-fill-seal systems taking the lead due to their suitability for limited floor space and automated packaging lines.
In terms of application, the meat, poultry, and seafood segment is expected to capture the largest share, driven by the increasing consumption of processed and frozen products. Geographically, the Asia-Pacific region is anticipated to hold the largest market share, fueled by a growing demand for packaged foods and a high concentration of local packaging manufacturers.
