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From a regional perspective, Asia-Pacific is expected to witness the highest growth rate during the forecast period due to the increasing number of dual-income households.
The global flexible plastic packaging market is projected to generate revenues of $172.29 million from 2018-2023 with a steady CAGR of 3.2% during this period, according to a study shared by Frost & Sullivan, San Antonio, Texas.
While technology offers the greatest opportunities for the agriculture and nutrition industry, enabling technology to deliver on personalization is the next big thing, according to a report released by Frost & Sullivan, Santa Clara, Calif.
IIoT technologies such as Big Data analytics and AI are expected to play a huge role in accelerating and streamlining the manufacturing process through advanced automation and analytics.
A rapidly growing urban population and increased consumer awareness regarding sustainability are prompting food and beverage companies and manufacturers to employ digital solutions to ensure product quality, according to a study produced by Frost & Sullivan, Santa Clara, Calif.
Players should establish an effective and innovative rigid plastic packaging product portfolio and partner with or acquire other companies to expand customer base and strengthen market position.
The rigid plastic packaging market is forecasted to reach $166.63 billion by 2022, growing at a CAGR of 5.2% between 2017 and 2022, according to a study released by Frost & Sullivan, Santa Clara, Calif.
Improved economic conditions in emerging nations, globally changing dietary preferences and a rising demand for nutritious and ready-to-eat food products are driving demand for food processors and boosting growth in the packaging equipment market.
Growth in the global food and beverage processing and packaging equipment market looks promising over the next four years, according to research revealed by Frost & Sullivan, Santa Clara, Calif.
The manufacturing industry's innovation emphasis will move toward the development of new product-related services, supply chain improvements and innovative business models to create new competitive advantages over the next five years.
Nearly 90% of senior manufacturing industry executives predict that the competitive importance and pace of innovation will increase significantly as companies deepen their adoption of Manufacturing 4.0 (M4.0) technologies, according to results from the latest “Innovation in Manufacturing” research survey.
Partnerships, mergers and acquisitions, co-development and other collaborative models are best suited to leverage new technology in the design of smart solutions.
The advent of novel technologies in the fields of life science development, advanced material design, microelectronics and nanotechnology, advanced thermodynamics, food engineering and processing and Internet of Things (IoT) innovations are converging through food safety testing applications and smart food safety management.
The global food and beverage industry is witnessing rapid uptake of technologies ranging from cloud platforms, gene editing, 3D printing and enzyme engineering, to new packaging techniques that encompass the use of environmentally friendly and hybrid packing materials, smart packaging methods and nano-technology innovations.
