COVID-19 Impact and Recovery Analysis- Food Packaging Machinery Market 2020–2024 | Increased Demand for Food Packaging to Boost Growth | Technavio
Technavio has been monitoring the food packaging machinery market and it is poised to grow by USD 4.05 billion during 2020–2024, progressing at a CAGR of over 4% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Please Request Latest Free Sample Report on COVID-19 Impact
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Coesia Spa, GEA Group Aktiengesellschaft, Graphic Packaging Holding Co., Illinois Tool Works Inc., Ishida Co. Ltd., John Bean Technologies Corp., KRONES AG, MULTIVAC Sepp Haggenmuller SE & Co. KG, Syntegon Technology GmbH, and Tetra Laval International SA are some of the major market participants. The increased demand for food packaging will offer immense growth opportunities. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Increased demand for food packaging has been instrumental in driving the growth of the market.
Food Packaging Machinery Market 2020–2024: Segmentation
Food Packaging Machinery Market is segmented as below:
- Type
- Geography
- FFS
- Labeling and Coding
- Wrapping and Bundling
- Others
- APAC
- Europe
- North America
- South America
- MEA
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Food Packaging Machinery Market 2020–2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our food packaging machinery market report covers the following areas:
- Food Packaging Machinery Market Size
- Food Packaging Machinery Market Trends
- Food Packaging Machinery Market Industry Analysis
This study identifies increased demand for smart packaging as one of the prime reasons driving the food packaging machinery market growth during the next few years.
Food Packaging Machinery Market 2020–2024: Vendor Analysis
We provide a detailed analysis of vendors operating in the food packaging machinery market, including some of the vendors such as Coesia Spa, GEA Group Aktiengesellschaft, Graphic Packaging Holding Co., Illinois Tool Works Inc., Ishida Co. Ltd., John Bean Technologies Corp., KRONES AG, MULTIVAC Sepp Haggenmuller SE & Co. KG, Syntegon Technology GmbH, and Tetra Laval International SA. Backed with competitive intelligence and benchmarking, our research reports on the food packaging machinery market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.
