The food packaging machinery market is estimated to be valued at USD 17,792.5 million in 2021 and is poised to grow at a CAGR of 6.1% over 2022-2028. Food Packaging machinery is a term that describes equipment that is used to pack various items and components. It is important for enabling the packaging of small sachets into large cartons, as well as providing temperature resistance and assuring product safety. Based on the machinery type, the vertical form, fill, and seal equipment accounts to have a larger share in the forecasting period due to this equipment being extensively used in the wide range of food products packaging including snack foods, wafers, candies, and others. Moreover, companies in the market such as Krones AG, Robert Bosh Packaging technology GmbH, and Coesia S.P.A are focusing on the development of smart and new innovative machinery. Increasing demand for packaged food and beverages coupled with the flourishing e-commerce industry is expected to drive the demand for packaging machinery. Moreover, rising awareness regarding personal health and hygiene, increased disposable income, and rise in number of end user industries are anticipated to propel the market growth.
Recent Market Developments:
In August 2019, Syntegon Technology GmbH has introduced a fully automated horizontal flow wrapper Pack 403 at Pack Expo 2019 in Las Vegas. It has a Paloma pick-and-place robot for use in tough environments.