Packaging Testing Services Market is expected to surpass US$ 33.4 Bn by 2029 | Future Market Insights, Inc.￼
The market for package testing services is anticipated to grow at a CAGR of 12.6% from 2022 to 2029, reaching US$ 33.4 billion.
Packaging testing equipment’s uses in the electronics industry are continually expanding. A prominent factor that is expected to boost the growth of the packaging testing equipment market is the fast expanding demand for consumer electronics.
Request for a sample @ https://www.futuremarketinsights.com/reports/sample/rep-gb-8685
Packaging Testing Equipment Market Landscape
- Krones AG,
- Coesia Group and
- AMETEK Inc.
are the top players operating in the packaging testing equipment market. Furthermore,
- Marchesini Group,
- Presto Testing Equipment,
- Labthink Instruments Co. Ltd.,
- AZO Holding GmbH,
- Machine Solutions Inc.,
- Qualitest, and
- Rycobel Group
are also the noticeable players in the packaging testing equipment market. The 3-tier players of the market hold 80-90% in the global packaging testing equipment market. Summarizing everything key players will contribute almost 10-20% of the global market.
FMI forecasts that the sales of packaging testing equipment will increase in food and beverages, healthcare, and other sectors. Factors such as demand for sustainability and client specific customization will aid application across diverse industries.
Key Takeaways from Packaging Testing Equipment Market
- By testing type, material/ sample testing segment is ahead and leading the global packaging testing equipment market. The segment is anticipated to account for 44% of the market by the end of forecast period.
- By material, the plastic segment is mostly preferred in the market due to its low cost feature. Demand in the segment is anticipated to increase 1.8 times during next 10 years.
- Among end users, the food and beverages segment will exhibit high demand. Furthermore, healthcare & pharmaceuticals will be the second largest segment, accounting for 22% of the market.
- Asia-Pacific is anticipated to offer impressive opportunities for packaging testing equipment market due to lower tax slabs and ease of doing business opportunities in the region.
- North America and Europe will hold share of almost 44% in the global market by the year 2031.
Ask an Analyst @ https://www.futuremarketinsights.com/askus/rep-gb-8685
“The demand for packaging testing equipment is rising globally. Increasing focus on testing services and verification & certification for ensuring the quality of packaging material has created growth opportunities for packaging testing equipment manufacturers ,” says FMI analyst.
What is primarily driving the Packaging Testing Services Market?
“Introduction of New-Fangled Standards to be the Driver”
The major driver to the packaging testing services industry is the introduction of new standards for package authentication. Numerous organizations have established international principles in the last few years that are sure to be trendsetters. These standards aim to have ever-expanding cargo and product safety, and different packaging test methods are defined in this regard.
There is a long list of standards in the packaging testing services market developed by various organizations such as American Society for Testing and Materials (ASTM), International Safe Transit Association (ISTA), International Organization for Standardization (ISO), and others.
The global Packaging testing services market is witnessing an influx of large number of players at the domestic as well as global level. The existing players are also engaging into mergers, acquisitions, partnerships, joint ventures, and new product launches to keep their brand image afloat.
- DDL, in April 2019, did announce rebranding of Cryopak Testing Center (a 6K sq. ft. independent laboratory stationed at Edison, NJ) as DDL testing laboratory that makes way for package testing across distribution simulation, environmental conditioning, thermal performance, strength and integrity testing, and shelf-life testing.
Report Customization available @ https://www.futuremarketinsights.com/customization-available/rep-gb-8685
Key Segments Covered in Packaging Testing Services Industry Research
Packaging Testing Services Market by Testing Type:
Packaging Testing Services Market by Material:
- Paper & Paperboard
Packaging Testing Services Market by End-user:
- Personal Care & Cosmetics