Impact of COVID-19 on Tray Sealing Machines Market Share, Size and Demand, Concludes FMI
Tray Sealing Machines Market Snapshot
The tray sealing machines market will report impressive growth through 2021 with worldwide revenues up 4.6% between 2020 and 2031. Future Market Insights (FMI) analysis states that tray sealing machines revenues will nearly double between 2021 and 2031, reaching nearly US$ 4.9 Bn in 2031 with a ten-year compound annual growth rate (CAGR) of 6.0%.
Despite stagnant sales amid COVID-19, the demand for tray sealing machines will surge 2021 onwards, albeit gradually which is forecast to reach 38,024 Units by the end of 2021. The market has been projected to expand at 4.8% CAGR over the forecast period, in terms of volume.
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“Paradigm shift in consumer behaviour towards flexible packaging solutions is driving the tray sealing machines market. Besides this, adoption of integrated systems including seal inspection systems and leakage inspection systems to minimize wastage will bolster growth opportunities, said a FMI analyst.
Key Takeaways from Tray Sealing Machines Survey
The U.S. is expected to emerge as a lucrative pocket, accounting for over 80% of share in North America tray sealing machines market through 2031. France market for tray sealing machines is forecast to grow at a CAGR of 5.0% over the forecast period 2021-2031. Germany is leading the market for tray sealing machines in Europe and is estimated to account for nearly 16.3% of Europe market through 2031. India market is projected to grow at an impressive pace, accounting for over 44.7% of South Asia market through 2031. Based on technology, the segment will account for over 72.4% of the market share in 2021.
Increasing demand for modified atmosphere packaging (MAP) is influencing sales of tray sealing machines. The rapid growth of food and beverage sectors and consequent demand for sustainable packaging solutions are propelling sales of tray sealing machines.
High cost associated with the installation and maintenance of tray sealing machines is anticipated to hamper sales in the market.
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Some of the leading players operating in the tray sealing machines market profiled by FMI are:
MULTIVAC, Inc. Proseal America Inc. ProMach, Inc. Harpak ULMA Packaging AptarGroup, Inc. John Bean Technologies Corporation (JBT) Omori Machinery Co., Ltd Robert Reiser & Co., Inc. Sealpac GmbH Webomatic Maschinenfabrik GmbH ILPRA SPA ORICS Industries, Inc. ISHIDA CO., LTD. Global Mondini Italianpack S.p.A Reepack SRL Rotopack srl. Valko s.r.l. Packaging Automation Limited Starview Packaging Machinery Inc.
More Valuable Insights on Tray Sealing Machines Market
FMI in its new report, offers an unbiased analysis of the global tray sealing machines market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in tray sealing machines market with detailed segmentation:
Automatic Semi-automatic Manual
By Application Type:
Meat, Poultry & Seafood Bakery & Confectionary Fresh Produce Ready Meals Sweets & Dry Fruits Others
By Operating Speed:
Upto 3 CPM 4 CPM to 8 CPM 9 CPM to 12 CPM Above 12 CPM
By Packaging Type:
Modified Atmospheric Packaging (MAP) Vacuum Skin Packaging (VSP) General Sealing
North America Latin America Europe South Asia East Asia MEA Oceania
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Key Questions Covered in the Tray Sealing Machines Market Report
The market survey also highlights projected sales growth for tray sealing machines market between 2021 and 2031 The report offers insight into tray sealing machines demand outlook for forecast period 2021-2031. Tray sealing machines market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others Tray sealing machines market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry