The global packaging testing equipment market is on a trajectory of remarkable growth, with a projected value of US$3,905.4 million by 2023, soaring to an impressive US$7,148.5 million by 2033. Future Market Insights’ forecast of a 6.2% compound annual growth rate (CAGR) from 2023 to 2033 underscores the market’s robust potential.
This expansion is fueled by an amalgamation of pivotal factors, prominently the escalating demand for packaged goods across various sectors. As packaged food, beverages, and personal care products gain popularity, manufacturers are compelled to ensure the safety and quality of their offerings. Consequently, the adoption of packaging testing equipment has surged to scrutinize packaging materials for attributes like strength, durability, and other crucial physical properties.
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Business Growth Opportunities:
- E-commerce Packaging Solutions: With the rise of e-commerce, there’s a growing demand for innovative packaging solutions that ensure product safety during transit. Companies specializing in e-commerce packaging testing equipment can capitalize on this trend.
- Sustainability Testing: As consumers and regulatory bodies emphasize sustainability, there’s an opportunity for businesses to develop packaging testing equipment that assesses the environmental impact of packaging materials, promoting eco-friendly solutions.
- Global Supply Chain Resilience: Given recent disruptions in global supply chains, there’s a need for packaging testing equipment that ensures packaging durability and integrity throughout the entire supply chain, reducing the risk of damage during transportation.
- Smart Packaging Testing: With the integration of IoT and smart technologies in packaging, there’s a growing need for testing equipment that evaluates the functionality and reliability of smart packaging features, such as temperature monitoring and tamper-evident systems.
- Customized Testing Solutions: Offering customizable testing solutions to cater to specific industry needs, such as pharmaceuticals, food and beverages, and electronics, can be a significant growth opportunity, as different sectors have unique packaging requirements.
Trends in the Packaging Testing Equipment Industry:
- Rise of Automated Testing Systems: Automation is becoming a key trend in packaging testing, with the development of advanced testing systems that can efficiently and accurately assess various packaging parameters, improving speed and reliability.
- Focus on Material Testing: With an increased emphasis on sustainable and recyclable materials, there’s a trend towards packaging testing equipment that specifically evaluates the strength, durability, and environmental impact of different packaging materials.
- Integration of Advanced Technologies: The incorporation of advanced technologies, such as artificial intelligence and machine learning, is a growing trend in packaging testing equipment, enabling more precise and predictive testing outcomes.
- Compliance with Industry Standards: As regulations and industry standards evolve, packaging testing equipment trends include a focus on ensuring compliance with these standards, providing businesses with tools to meet regulatory requirements effectively.
- Real-time Monitoring and Data Analytics: Packaging testing equipment is increasingly incorporating real-time monitoring and data analytics capabilities, allowing manufacturers to gather insights into the performance of their packaging materials and make informed decisions for improvements and optimizations.
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Key Takeaways from the Packaging Testing Equipment Market:
- According to FMI’s analysis, the United States will hold a 22.6% share of the North American packaging testing equipment industry in 2022. The packaging testing equipment industry in the United States is expected to be worth $847.9 million by 2033.
- Germany accounted for 3.7% of the global packaging testing equipment industry in 2022. In 2022, the German packaging testing equipment industry is expected to be worth US$138.7 million.
- The China packaging testing equipment industry is worth US$ 423.6 million in 2022, with a CAGR of 7.16% over the forecast period.
- The packaging testing equipment industry in India is expected to be worth US$ 336 million in 2022, with a CAGR of 8.78% during the forecast period.
- Because of its fundamental nature in packaging testing, sample/material testing is widely used in the market, accounting for nearly 45% of the market in 2022.
- Due to its low cost, plastic is widely used in the packaging industry. In 2022, this segment held 44.6% of the market.
Who is winning?
The packaging testing equipment market is highly fragmented, with numerous players operating in the market, both local and international. Some of the key players in the market include SGS S.A, Intertek Group plc, Bureau Veritas S.A, TÜV SÜD AG, ALFA LAVAL AB, Ametek Inc., Eurofins Scientific SE, Merck KGaA, and others.
These players are focusing on various strategies, such as mergers & acquisitions, partnerships & collaborations, and new product launches, to expand their market presence and strengthen their position in the market. For instance, in 2019, Intertek Group plc acquired STS Group AG, a Swiss-based provider of technical inspection and certification services, to expand its presence in Europe.
Players are also investing in research and development to develop advanced packaging testing equipment and offer innovative solutions to their customers. This has resulted in the development of new and advanced packaging testing equipment, which has increased the efficiency and accuracy of testing and has also helped in reducing the cost of testing.
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Packaging Testing Equipment Market by Category
By Testing Type:
- Sample/ Material Testing
- Hardness/ Strength Testing
- Surface Testing
- Air Properties & Impact Testing
- Enclosures & Barrier Testing
By Material:
- Plastic
- Paper
- Metal
- Glass
By Content:
- Food & Beverages
- Healthcare & Pharmaceuticals
- Transportation & Logistics
- Personal Care Products
- Consumer Electronics
- Others
By Region:
- North America
- Latin America
- Europe
- APAC
- Rest of World
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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