PUBLISHER: Allied Market Research | PRODUCT CODE: 1239465
PUBLISHER: Allied Market Research | PRODUCT CODE: 1239465
The food processing seals market size was valued at $2.8 billion in 2021 and is projected to reach $4.6 billion by 2031, registering a CAGR of 5.1% from 2022 to 2031. Food processing seal is a step in the packaging and processing of food items. This seal is provided for food packaging in order to avoid contamination and leakage of the food. There are various environmental factors that can cause damage, decay, or contamination of packed food items during transport and storage from which these seals are effective in providing protection.
Seals in packaging of products also provide useful information about the product. In addition, it helps in preventing contact of food products from dust and external contaminants. Customers are drawn to packaging that provides them simple access to product facts. For instance, more than 70% of purchasing choices are made in-store based on packaging and information provided. Moreover, the protection of the interior goods is another element that drives the growth of the market. A product travels hundreds of thousands of miles before reaching clients. It gets delivered through the roadways, railways, rivers, or aircraft. Distinct modes of transportation necessitate different packaging and protection of the goods within the packaging industry, which demand for durable packaging solutions. Hence, this drives the use of durable packaging solutions for shipping applications.
Food processing seals requires a type of packaging made of plastic, glass, paperboard, or metal. These materials are extensively used to form cans, containers, cartons, and other forms of packages. Thus, such seals in packaging offers unique benefits, which include increased shelf life, maintains quality of contents, and no preservatives, which acts as a boon for the global food processing seals market.
Surge in global consumption of food & beverages fuels demand for food processing seals, which propels the food processing seals market. In addition, food processing seals are widely used in the beverages industry due to their cost-effectiveness, eco-friendliness, and recyclability nature. However, one of the significant restraints for the global food processing seals market is uncertain prices of raw materials such as metals and elastomers.
In addition, during the outbreak of the COVID-19 pandemic, construction, manufacturing, hotel, and tourism industries were majorly affected. Manufacturing activities were halted or restricted. This led to decline in the manufacturing of various equipment as well as their demand in the market, thereby restraining the growth of the market. Conversely, industries are gradually resuming their regular manufacturing and services. This is expected to lead to re-initiation of companies at their full-scale capacities, that helped the market to recover by the end of 2021.
On the contrary, rise in e-commerce sales offers lucrative growth opportunities for the global food processing seals market.
Customers' demand for long-lasting packaging, as well as the upgraded or innovative packaging has grown. This is impeding the growth of small-scale industries that are unable to absorb the costs of upgrading or using new materials which has grown the adoption of food processing seals. In addition, the best chance for growth in food processing seals is in the E-commerce industry. The e-commerce industry has grown at a rapid pace over the years. It is effective in reaching clients at every nook and cranny of the globe. Hence, it is necessary to use specialized packaging to keep the product safe inside the package till it reaches the customer. Thus, this is providing more convenience to the customers, which in turn, is anticipated to offer lucrative opportunities for the food processing seals market.
The food processing seals market is segmented on the basis of material type, technology, application and region. By material, the food processing seals market is fragmented into metal, face material and elastomers. By technology, the market is categorized into vacuum and non-vacuum. By application, the market is divided into Bakery & Confectionary, Meat, Poultry & Seafood, Dairy Products, Processed Food & Beverages and others.
By region, the food processing seals market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).