The packaging testing equipment market is on track to reach substantial growth, with projections indicating a market size of USD 3,905.4 million in 2023, expected to surpass USD 7,148.5 million by 2033. Future Market Insights forecasts a robust compound annual growth rate (CAGR) of 6.2% between 2023 and 2033 for packaging testing equipment.
Packaging testing equipment plays a critical role in ensuring the safety, quality, and compliance of packaged goods across various industries. The market’s growth is driven by increasing demand for packaged products, stringent regulatory standards, and the imperative to maintain consumer trust and satisfaction.
Key Growth Drivers and Opportunities
- Increasing Demand for Packaged Goods: The rising consumption of packaged food, beverages, and personal care products is a significant driver of growth in the packaging testing equipment market. Manufacturers are increasingly adopting testing equipment to ensure their products meet safety and quality standards.
- Emphasis on Product Safety and Quality: As consumers become more discerning about the products they purchase, there is a heightened focus on safety and quality assurance. This shift is prompting manufacturers to invest in packaging testing equipment to validate the integrity and reliability of their packaging materials.
- Compliance with Industry Regulations: The necessity to adhere to stringent industry regulations regarding packaging safety and quality is fueling demand for testing equipment. Manufacturers are investing in technologies that enable them to conduct rigorous testing to meet compliance standards.
- Technological Advancements: Innovations in packaging testing technologies are creating new opportunities within the market. The integration of automation and smart technologies into testing processes is enhancing efficiency and accuracy, making it easier for manufacturers to assess their packaging solutions.
- Sustainability Trends: The growing focus on sustainable packaging solutions is also impacting the testing equipment market. As companies transition to eco-friendly materials, there is a need for testing equipment capable of evaluating the performance of these new packaging types.
Key Takeaways from the Packaging Testing Equipment Market:
- According to FMI’s analysis, the United States holds a 22.6% share of the North America 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.
Access Full Report: https://www.futuremarketinsights.com/reports/packaging-testing-equipment-market
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 (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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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