Rising awareness among consumers and continuous innovation in technology will continue to fuel demand for packaging that is hygienic, functional, and visually-appealing. Packaging has witnessed a sea-change – from just an outer covering to an integral part of marketing and product safety. Today, the packaging industry is catering to the preference of a wide consumer base, especially the ‘on-the-go’ consumer, for whom effective and functional packaging is ever so important.
Stricter food safety regulations have led manufacturers to focus on innovative methods of packaging that keep the product fresh over long term. Also changing dietary preferences of consumers, such as the burgeoning demand for “natural” and “organic” has prompted packaging industry to come up with new solutions. As the demand for food has progressed and diversified, so has the technology involved in the packaging of these goods.
Food Packaging Machinery Market- Market Segmentation
Food packaging machinery market is segmented on the basis of application type, material type and machinery type. On the basis of application type, food packaging machinery market can be segmented into cereals, pulses, oil seeds, fruit and vegetables, meat, poultry, dairy, marine and bakery. On the basis of material type, food packaging machinery market can be segmented into glass, metals, plastics, paper board, paper/plastic laminates. On the basis of machinery type, food packaging machinery can be segmented into FFS, labeling and coding, wrapping and bundling, other machinery and spare parts. FFS constitutes for the major portion of the segment.
Food Packaging Machinery Market- Market Dynamics
With the increase in the disposable income, the demand for packaged and hygienic food has witnessed an uptick. The expectancy of the product to be safe from the point of packaging till it arrives in the shelves/ fridges has created an urgent need for incorporating the latest aspects of technology. The advancement in technology has led to faster, safer and reliable packaging.
The availability of online ordering of grocery has helped increase the demand for packaged food as well, giving the food packaging machinery more scope for expansion. Moreover, organic foods market has taken the world by storm, giving rise to a new segment of food products that will positively impact the food packaging machinery market. Food safety regulatory can impede growth in the short-term, but they are a necessary check that will help the market evolve in the long-term.
Food Packaging Machinery Market- Regional Outlook
In terms of geography, the food packaging machinery market has been divided into five key regions; North America, Latin America, Europe, Asia-Pacific and Middle East & Africa. The food packaging machinery market is expected to exhibit an increase in CAGR during the forecast period. Asia-Pacific is expected to continue being the dominant market for food packaging machinery market followed by Europe and North America. Increase in demand for packaged food products packaging will in turn instill the demand for the food packaging machinery market globally.
Food Packaging Machinery Market- Major Players
Some of the key players in the food packaging market are Robert Bosch GmbH, Coesia India Private Limited, Illinois tool works, Inc., GEA Group, Multivac Group, Tetra Laval International S.A., The Adelphi Group of Companies, AMF Bakery Systems, Arpac LLC, Lindquist Machine Corporation.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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