Study: Food packaging equipment market worth $60.40B by 2025
The filling and dosing equipment segment is expected to register significant CAGR over the forecast period.
The global food packaging equipment market size is estimated to surpass $60.40 billion by 2025, and is anticipated to expand at a CAGR 4.87% over the forecast period, according to a study produced by Grand View Research, San Francisco. Growing demand for convenient, packaged, processed and ready-to-eat food products is favoring the packaging industry, especially in emerging regions like Asia Pacific.
Increasing awareness regarding packaging, hygiene and nutritional value of food coupled with the rise in demand for dairy, bakery, confectionery, meat, poultry, seafood and allied products is anticipated to trigger the market growth. In addition, rising investments for developing efficient manufacturing units for packaging equipment is predicted to encourage growth of the food packaging equipment market over the forecast timeframe. Government regulations regarding manufacturing materials and processes along with secure work environment and product standardization is also expected to further drive the growth.