The global packaging testing equipment market is anticipated to soar to new heights in the ensuing ten years, with revenues likely to hit US$ 7,148.5 million by 2033 and a prediction of US$ 3,905.4 million in 2023. According to Future Market Insights, a number of important reasons will likely cause the demand for packaging testing equipment to grow at a strong 6.2% CAGR between 2023 and 2033.
The market for packaging testing equipment is expanding as a result of rising consumer demand for packaged goods, the significance of product safety and quality, and the requirement to adhere to industry rules. The strength, durability, and other physical characteristics of packaging materials are being tested more often thanks to these factors, which have also increased the usage of package testing equipment.
The food sector puts packaging through a battery of tests, such as impact tests, leak and burst detection, permeability analysis, tensile strength testing, and others, to guarantee quality and extend the shelf life of the finished goods. These tests employ a range of package testing apparatus, and the need for sophisticated packaging testing solutions is growing along with the need for high-quality packaging.
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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 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.
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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
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