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Posted by Shirish Wadaskar on January 22nd, 2019
Estimated to surpass the global market valuation of US$ 550 million in 2019, the tray sealing machines landscape is projected for a just-under 5% yearly growth over 2018. With flexible and rigid packaging gathering prominence worldwide, especially in the personal care sector, it is more likely that the demand for tray sealing machines would be on a constant rise in the near future.
Food Processing Sector Remains a Primary Booster to Market Growth
Strong demand growth observed for advanced packaging solutions such as vacuum skin packaging (VSP) and modified atmospheric packaging (MAP) is anticipated to act as a prominent factor accounting for the growth of tray sealing machines market. Booming consumption of ready meals or RTE (ready-to-eat) meals, coupled with is also cited as a strong driver to soaring sales of tray sealing machines.
A new market intelligence published by Future Market Insights reaffirms the predominant role of the food processing sector in bolstering adoption of tray sealing machines. The report prompts at thriving automation in food processing companies that subsequently translates into increased sales of (both, automatic and semi-automatic) tray sealing machines.
A senior research analyst explains, “As a majority of companies that are active in the food processing sector are readily embracing advanced technologies including automation, it is most likely that this scenario will soon boost new machine sales in the tray sealing machines category, or drive technology upgrades in existing tray sealing machines. In either of these, the tray sealing machines landscape is favored”.
Semi-automatic & Manual Tray Sealing Machines Take up Nearly 80% Market Value Share
Dramatically rising popularity of packaged/convenience foods is fueling investments in automated machinery such as automatic or semi-automatic tray sealing machines. The report, in the backdrop of increasing establishments in the small and medium scale food processing segment, estimates healthy demand growth for relatively economical semi-automatic and manual tray sealing machines in coming years.
The global demand for semi-automatic and manual tray sealing machines accounts for a collective market value share of up to 80%, and a majority of it is anticipated from the relatively unorganized sector that involves catering industry operators, besides SMEs in the food processing segment.
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Advanced Packaging Formats Pushing New Machinery Development
Packagers of fresh produce have adopted a shift to MAP as a viable long-distance-trade solution, which highlights a significant trend contributing to the growth of tray sealing machines landscape. Moreover, packagers of meat, poultry, and seafood that make up for more than 20% of the total market valuation, are increasingly preferring VSP as an ideal packaging solution.
While packaging companies are turning to specific sealing methodologies for various types of food products, maximum demand for tray sealing machines is expected from the general or ambient packaging type. However, it is more likely that the application specific, advanced technology machinery supporting MAP and VSP would discover higher opportunities in terms of adoption.
Small & Medium Scale Operators Account for APAC’s Lead
With over 1/3rd share of the global valuation of tray sealing machines market, Asia Pacific remains the top consumer region of tray sealing machines. The region’s sizably large unorganized section in the manufacturing industry, led by China and India, is cited as the predominant factor responsible for regional growth in tray sealing machines landscape.
The affordable pricing strategy adopted by key manufacturers, in addition to higher preference for manual and semi-automatic machinery, is likely to enable Asian market to maintain the top performing position at a global level. North America and Western Europe, jointly holding a share of nearly half of the market value, will reportedly witness relatively sluggish growth over coming years.
Tier-wise Breakdown of Tray Sealing Machines Landscape
As concluded by extensive analysis of the global competitive landscape of tray sealing machines market, a majority of market growth is concentrated in the Tier 1. Whereas, the market competitiveness seems highly diverse in the Tier 3. The participants in former account for up to 50% value share in the tray sealing machines market, whereas those in the latter make up for around 40% market revenue share, as indicated by the report.
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About the AuthorShirish Wadaskar
Joined: December 22nd, 2016
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