Bizizz Market Research has recently published a research report, “Food Processing Seals Market, By Material Type (Metals, Face Materials, Elastomers and Others), Application (Bakery & Confectionary, Meat, Poultry & Seafood, Dairy Products, Alcoholic Beverages, Non-alcoholic Beverages and Others), Component, and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2027”.
As per the report, Global Food Processing Seals Market was valued at US$ XX Bn in 2018 and it is anticipated to reach at market value of US$ 3.6 Bn by 2027, witnessing a CAGR of 3.1 % during the forecast period. Key drivers of the market are increased consumption of the processed and convenience coupled with raising government regulations stimulating its market growth.
The food processing seals market is significantly driven by a plunge in its demand in order to use them for convenience and processed foods worldwide. An increase in the demand of bakery, confectionary, dairy and poultry products are one of the driving factors for its considerable market growth. Regulations and standards that are being imposed by various institutions including FDA, Food Contact Materials Regulations (EC), ATEX, Regulations EU, NSF, 3-A, Commission Regulation (EC), Wras and others are expected to enhance food processing seals market in years to come.
The Food Processing Seals market is anticipated to register a CAGR of over 3.1% during the forecast period.
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By Application, Bakery & confectionary segment held a prominent share in Global Food Processing Seals Market in 2018.
The bakery & confectionery segment is leading in the global market of food processing seals 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.
Asia Pacific is anticipated to dominate the Global Food Processing Seals Market during the Forecast Period.
The Asia Pacific is anticipated to grow in the food processing seals market at a rapid rate during the forecast period. It is contributed by an increasing demand for bakery products and raising manufacturing of processed food in the Asia Pacific region. Rapid industrialization coupled with a plunge in demand for alcoholic beverages are some vital reasons for the market growth.
Global Food Processing Seals market was highly fragmented among the number of local and global players. The companies are competing in the global market by introducing innovative products to the end-user industries.
Prominent players operating in the Global Food Processing Seals Market are: IDEX Corporation, Freudenberg Group, James Walker, Meccanotecnica Umbra S.p.A., AESSEAL Plc, EnPro Industries, Inc., Smiths Group Plc, Flowserve Corporation, Trelleborg AB, A.W. Chesterton Company, among others.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
c) Impact on Industry / company revenue and predictive intelligence on forecast sales
d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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