Market Insights on Packaging Testing Services covering sales outlook, demand forecast & up-to-date key trends
The market for package testing services is anticipated to grow at a CAGR of 12.6% from 2022 to 2029, reaching US$ 33.4 billion.
Packaging testing equipment’s uses in the electronics industry are continually expanding. A prominent factor that is expected to boost the growth of the packaging testing equipment market is the fast-expanding demand for consumer electronics.
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Packaging Testing Equipment Market Landscape
are the top players operating in the packaging testing equipment market. Furthermore,
are also the noticeable players in the packaging testing equipment market. The 3-tier players of the market hold 80-90% in the global packaging testing equipment market. Summarizing everything key players will contribute almost 10-20% of the global market.
FMI forecasts that the sales of packaging testing equipment will increase in food and beverages, healthcare, and other sectors. Factors such as demand for sustainability and client specific customization will aid application across diverse industries.
Key Takeaways from Packaging Testing Equipment Market
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“The demand for packaging testing equipment is rising globally. Increasing focus on testing services and verification & certification for ensuring the quality of packaging material has created growth opportunities for packaging testing equipment manufacturers ,” says FMI analyst.
What is primarily driving the Packaging Testing Services Market?
“Introduction of New-Fangled Standards to be the Driver”
The major driver to the packaging testing services industry is the introduction of new standards for package authentication. Numerous organizations have established international principles in the last few years that are sure to be trendsetters. These standards aim to have ever-expanding cargo and product safety, and different packaging test methods are defined in this regard.
There is a long list of standards in the packaging testing services market developed by various organizations such as the American Society for Testing and Materials (ASTM), the International Safe Transit Association (ISTA), the International Organization for Standardization (ISO), and others.
Competitive Landscape
The global Packaging testing services market is witnessing an influx of large number of players at the domestic as well as global level. The existing players are also engaging into mergers, acquisitions, partnerships, joint ventures, and new product launches to keep their brand image afloat.
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Key Segments Covered in Packaging Testing Services Industry Research
Packaging Testing Services Market by Testing Type:
Packaging Testing Services Market by Material:
Packaging Testing Services Market by End-user:
About FMI Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market
Jan 31, 2023