Evolving Consumer Preferences and Focus on Improving Packaging Quality to Aid Market Growth
The superfoods trend has gained considerable momentum over the past few years due to which, a number of superfood powders has entered the mainstream market worldwide. In addition, food powders have gained considerable popularity in several regions across the world, particularly among the health-conscious millennial population. As super powders trend continues to make inroads in different regions of the world, the demand for food powder packaging machines has witnessed consistent growth. The growing popularity of food powder products is projected to have a direct impact on the global food powder packaging machines market during the forecast period.
At the back of growing environmental concerns and stringent regulations, players operating in the current food powder packaging machines market landscape are increasingly focusing on launching environment-friendly food powder packaging machines to establish a solid presence in both, domestic as well as regional markets. Technological advancements related to packaging machinery, surge in the number of small-scale food manufacturers worldwide, and rapid shift toward industrial automation in the backdrop of Industry 4.0 are some of the key factors that are likely to aid the growth of the global food powder packaging machines market during the assessment period.
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Focus on Modernization of Packaging Machinery to Drive Global Market
The evolving consumer landscape is expected to play a key role in influencing the course of the food packaging sector in the upcoming years. As the demand for packaged food & beverage products continues to grow worldwide, the global food powder packaging machines is projected to exhibit a positive growth rate. Furthermore, as more number of packaging companies continue to invest toward the modernization of packaging machinery by integrating advanced features, including touch screen human machine interface, PLC controllers, and automated PC connectivity, the global food powder packaging machines market is expected to witness a steady growth in the upcoming decade.
As several companies continue to introduce semi-automatic and automatic food powder packaging machines to cater to packaging requirements of the food industry while simultaneously minimizing labor costs, the demand for food powder packaging machines is on the rise– another factor that is likely to propel the food powder packaging machines market during the forecast period.
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Growing Demand for Green Powders as Dietary Supplements to Fuel Market Growth
Rise of the vegan trend and surge in the number of non-meat eating population worldwide have played a key role in boosting the demand for green powders. Green powders have gained considerable popularity as dietary supplements, and are primarily manufactured to enable consumers to attain their vegetable intake goals. In addition, product labels involved in the manufacturing of green powders continue to promote the product as an immunity booster, antioxidant, and more due to which, the consumer demand for green powders has witnessed a positive growth in the past few years – a trend that is expected to continue over the course of the forecast period. While green powders continue to gain popularity, the demand for protein powders, dried fruit powder, whey powder, and specialty dairy powders is on the rise – another factor that is expected to play a key role in increasing the adoption of food powder packaging machines during the assessment period.
Demand Likely to Drop amid COVID-19 Pandemic
The onset of the novel COVID-19 pandemic is expected to hinder the growth of the global food powder packaging machines market in 2024. Dwindling consumer demand for packaged food products, particularly in the first two quarters of 2024, stringent restrictions on cross-border trade and uncertain economic outlook are some of the major factors that are anticipated to hinder the expansion of the global food powder packaging machines market in 2024. However, the demand could witness a steady growth toward the end of 2024, as the online demand for food powders has gradually gained considerable momentum. Market players should focus on product innovation and explore the potential of utilizing food powder packaging machines to produce immunity-boosting products.
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Food Powder Packing Machines Market: Overview
- According to Transparency Market Research’s latest report on the global food powder packing machines market for the forecast period of 2024-2028, the market is estimated to be driven by rising consumption of powder food items worldwide and effective utilization of packaging machineries in food sector
- The global food powder packing machines market is expected expand ~1.25x times to current market value at a CAGR of 3.3% during forecast period
Untapped Markets Offering Enormous Opportunities for Manufacturers
- Leading packaging machinery manufacturers operating in the global food powder packing machines market are constantly putting efforts to expand business boundaries globally to maximize sales and financial profitability as well. Highly-potential Asian countries such as China, India, and others have witnessed astonishing industrial transformation and growth in last decade and projected to remain same in the upcoming years.
- Moreover, low production, raw materials, and labour cost in India and China have pushed manufacturers across the globe to expand their manufacturing facilities to countries in the Asia region, which enable Asian countries to emerge as a global manufacturing hub.
- Rising trade activities in Asian countries, especially in the food industry, are creating massive demand for packaging machineries to pack, seal, and fill wide range of food items on large volume
- All these factors are anticipated to offer enormous growth opportunities for food powder packing machines manufacturers to proliferate the market further in highly-potential Asia Pacific
Changing Lifestyle Coupled with Eating Habits Gaining Significant Traction in Market
- Changing eating habits of millennials across the globe due to altering daily routine and lifestyle is one of the vital factors bolstering the demand for packaged food products, including powder food items
- Millennials across the globe are ready to spend on these powder food products, owing to its easy making process, nutritionals values, and other several factors. Furthermore, several food powder items such as milk, tea, coffee, and dairy powder products are consumed on daily basis.
- Shifting inclination of consumers toward such food powder products, owing to its numerous benefits is anticipated to accelerate the food powder packing machines market growth considerably
Rapid Growth of Retail Sector on Back of Increasing Consumption of Packed Food
- Significant increase in the number of modern retail formats, such as supermarkets, convenience stores, speciality stores, and hypermarkets was witnessed in the past few years. Changing lifestyles coupled with increasing per-capita disposable income of consumers have boosted growth of the retail sector especially in Asia and MEA regions. These emerging regions are also witnessing rapid urbanization.
- All these factors are collectively expected to drive the consumption of variety of food products, including powder food products. Growing preference toward packed and nutritional food items across continents drives the retail sector growth as well as creates astonishing demand for powder food items, which is expected to fuel food powder packing machines market growth significantly.
Food Powder Packing Machines Market: Key Findings
- As per machine type, vertical food powder packing machines are projected to lead the overall food powder packing machines market with capturing more than 70% of the market share in 2024. Owing to its versatility and ability to fill, pack and seal food product precisely, vertical food powder packing machines segment will continue to dominate the global food powder packing machines market during the forecast period.
- TMR witnessed that business-to-consumer (B2C) is highly preferred channel manufacturers used to sell and distribute food powder packing machines. By the end of 2028, business-to-consumer (B2C) segment is anticipated to capture more than 3/5th percent of the market share.
- Despite being a matured market, substantial portion of the food powder packing machines market is captured by the Europe region. The region accounts for a significant usage of food powder packing machines, and is expected to remain major user of food powder packing machines by the end of 2028. However, prominent Asia Pacific region is anticipated to hold 2/5th percent of the market share over the next eight years.
- Astonishing market penetration of food sector in Asian countries coupled with availability of wide range of packaged food is estimated to accelerate the food packing machines market growth in these countries during the forecast period.
Food Powder Packing Machines Market: Competition Landscape
- TMR analysed that the global food powder packing machines market is highly competitive, owing to new start-ups and entry of local players. This completion among key players is carefully studied based on developments, strategies, and segmental revenue of the company over the past five years.
- The recent study of food powder packing machines market includes profiles of players such as
- I.M.A. Industria Macchine Automatiche SpA
- GEA Group Aktiengesellschaft
- Optima Packaging Group GmbH
- Robert Bosch GmbH
- Uflex Ltd
- Haver & Boecker Company
- Rovema GmbH
- Tokyo Automatic Machinery Works Ltd
- Fuji Machinery Co. Ltd
- Uflex Ltd
- PremierTech
- Sapli Solutions S.L
- Turpack Packaging Machinery
- Bossar Packaging SA, etc.
- TMR differentiated these players as Tier 1, Tier 2 and Tier 3 as per their segmental earnings. Among these players, Robert Bosch GmbH, I.M.A. Industria Macchine Automatiche SpA and GEA Group Aktiengesellschaft are identified as Tier 1 players in food powder packing machines market. The Tier 2 players are Optima Packaging Group GmbH, Haver & Boecker Company, Uflex Ltd., and PremierTech. Tier 3 players are Tokyo Automatic Machinery Works Ltd, Fuji Machinery Co. Ltd, Sapli Solutions S.L, Turpack Packaging Machinery, Bossar Packaging SA, and Rovema GmbH, among others.
COVID–19 Pandemic Estimated to Hinders Food Powder Packing Machines Market Growth Considerably
- The novel COVID-19 pandemic has induced severe impact on food industry in almost all regions, including prominent regions such Asia Pacific, Europe, and North America. Furthermore, COVID-19 outbreak has disrupted the supply chain of manufacturing industries, worldwide, impacting the packaging and packaging machinery industry as well.
- Fluctuation in demand for package food, absence of employees and workers in manufacturing plants, shortages of raw materials, continuously changing financial conditions and tariffs in many countries due to COVID-19 pandemic are among the few factors that limit the food powder packing machines market growth. Owing to these factors, the demand for food powder packing machines will be sluggish for the next few months of 2024. However, with better planning and decisions of regulatory authorities and key packaging machinery manufacturers, the food powder packing machines market is expected to gain significant traction in the beginning of 2024.
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