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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Moreover, the market’s steady upsurge is anchored in the growing recognition of product safety and quality among consumers. Heightened awareness has driven manufacturers to prioritize rigorous testing and validation of their products. Consequently, packaging testing equipment is pivotal in ensuring products meet stringent safety and quality standards, cultivating consumer trust and brand loyalty.
Additionally, the need to adhere to industry regulations has fortified the demand for advanced testing equipment. As regulations evolve, companies are embracing these solutions to ensure compliance and avert potential legal and reputational risks.
In essence, the packaging testing equipment market’s trajectory is intertwined with the modern consumer’s emphasis on safe, high-quality products, with the industry set to play a pivotal role in upholding these standards, fostering growth and innovation across diverse sectors.
Emerging countries, such as Brazil and India, are presenting favorable conditions for growth in the packaging testing equipment market, with the expansion of local industries and the implementation of new regulations and standards. The increase in the middle-class population in these countries, coupled with rapid urbanization, has led to an increase in consumption and demand for diverse products, creating lucrative opportunities for packaging testing equipment manufacturers.
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
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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