Packaging based on the technical equipment is used for protecting products and to differentiate the brand and the types of products. The packaging of food emphasises more on the quality and health standards of any living person. Food packaging is dependent on the functional properties including protection, containment, communication, environmental and safety standards. In the world of modernisation, there are very few food products which are sold unpacked due to health hygiene. Adopting the latest packaging technology is leading the making of fancy and unusual shaped products with retained quality as well as has automated the process to decrease the labour cost.
The Global Food Packaging Technology & Equipment Market is accounted for $36.23 billion in 2017 and is expected to reach $72.45 billion by 2026 growing at a CAGR of 8.0% during the forecast period. Food packaging equipments are used across the food and beverages end users on increasing demand for processed foods followed by growing awareness regarding new food products.. The technical association of Food Packaging Equipment recently changed their guidelines by providing a road map for packaging suppliers and producers on both quality issues and opportunities to minimise or eliminate chemicals of concern in food packaging market. Garden of Life launched their four new Protein bars which are made from traceable, certified organic ingredients, including grass-fed milk, wild blueberries, nuts and pink Himalayan salt.
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North American countries like United States and Canada have huge demand of growth due to the rising investment on research over food processing equipment, and development on increasing economy. Furthermore, the rise in household incomes and the growing middle-class population have led to an increase in demand for packaged food products. On considering all these aspects investors are investing more of their expenditure in Food packaging Technology & Equipment. On believing all these factors the number of investors across the world has been increasing in the Food Packaging Technology & Equipment.
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