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In 20219, The Global Food Processing Seals Market Was Valued At US$ 2.8 Bn And Is Expected To Witness A CAGR Of 3.1% Over The Forecast Period (2020-2028).
The food processing seals market is majorly driven by a surge in demand for convenience and processed foods across the globe. The rise in demand for bakery, dairy, confectionary and poultry products is one of the key factors for the significant growth of the market. The stringent regulations and standards by numerous organizations such as FDA, Food Contact Materials Regulations (EC), Regulations EU, NSF, 3-A, Commission Regulation (EC), Wras, ATEX, and others are expected to enhance food processing seals market in years to come.
The rise in investments for the development of the latest food & beverage seals is another prominent factor anticipated to enhance the market growth in years to come. With the increasing demand from emerging markets of Asia Pacific and Middle East & Africa regions, the market is projected to grow significantly during the forecast period.
In addition to this, the rise in production of packaged and processed food in various countries such as China, the U.S., the U.K, Germany, France, Russia, Spain, and Japan are expected to support market growth over the upcoming years. However, unpredictable raw material prices, a rise in demand for organic & fresh products and the existence of seal less equipment are some of the restraints projected to hinder the market growth throughout the forecast period.
By material type, Elastomers expected to expand at a rapid pace in Global Food Processing Seals Market
The metal segment accounted for the highest share in the market in 20219 owing to the use of metal seals in different applications such as alcoholic beverages, bakery and confectionery, non-alcoholic beverages and others. Metals offer freedom of design as chemical limitations and a temperature that is expected to support the segment growth over the forecast period do not restrict them.
On the contrary, the elastomer segment is anticipated to expand at a rapid pace during the forecast period owing to its unique properties such as excellent aging characteristics, high replacement rate, temperature range, chemical compatibility and others. Therefore, the segment is expected the grow at a rapid pace over the forecast period.
By Application, Bakery & confectionary accounted for the key share in Global Food Processing Seals Market in 20219
The bakery & confectionery segment had the largest share in the global market backed by meat, poultry & seafood segment. The bakery & confectionery segment had the highest share due to high demand and production for chocolates and baked products worldwide. Changing patterns for food consumption in the emerging regions such as Asia Pacific, Latin America, Middle East, and Africa are further expected to support the segment growth during the forecast period.
On the other hand, the alcoholic beverages segment is anticipated to expand at a rapid pace owing to the growing demand of alcohol among millennials. The rise in demand from emerging economies of Asia Pacific is due to rapid urbanization and the presence of major alcoholic manufacturers such as Kirin Holdings Company, Thai Beverages, Asahi Group Holdings, Ltd. and others in the region.
Growth Prospects of Food Processing Seals are high in Asia Pacific
Asia Pacific is anticipated to expand at a rapid pace in years to come owing to the growing demand for bakery products and the increasing production of processed food in the region. Rapid urbanization along with a surge in demand for alcoholic beverages are some other key reasons for the market growth.
In 20219, Europe dominated the global food processing seals market. The rise in the production of processed food products coupled with a change in lifestyle is the key reason for regional dominance. In addition to this, stringent governmental regulations for using seals in the food & beverage industry are another factor expected to enhance regional growth. Thus, Europe is projected to grow significantly over the forecast period.
Global Food Processing Seals Market comprises of a large number of global and local/regional manufacturers. Meccanotecnica Umbra S.p.A., Freudenberg Group, James Walker, AESSEAL Plc, EnPro Industries, Inc., Smiths Group Plc, IDEX Corporation, Flowserve Corporation, Trelleborg AB, A.W. Chesterton Company, and Parker Hannifin are some key players operating at regional as well as country level. Collaborations, new product launch, acquisitions, mergers, and partnerships are some of the major strategies anticipated to follow by the abovementioned major players throughout the forecast period.
By Material Type:
- Face Materials
- Bakery & Confectionary
- Meat, Poultry & Seafood
- Dairy Products
- Alcoholic Beverages
- Non-alcoholic Beverages
- North America
- Latin America
- Asia Pacific
- Middle East and Africa