Global Packaging Testing Market to Exceed US$ 16 Billion in 2023, Expected to Reach US$ 52 Billion by 2033 | FMI

Packaging Testing Market

Future Market Insights (FMI) has projected that the global packaging testing market will surpass US$ 16,099.87 million in 2023, with a significant Compound Annual Growth Rate (CAGR) of 12.6% between 2023 and 2033. By 2033, the market is estimated to reach US$ 52,748.03 million.

Market Analysis:

The packaging testing market is anticipated to register a prolific year-on-year growth at a 13% CAGR in 2023, driven by the introduction of new standards and regulations aimed at increasing the sale of packaging testing equipment. Over the past few decades, there has been a significant transition in consumable product packaging, emphasizing improvements in shelf life and reduction of damage costs. This has led to an increased need for efficient packaging testing across various materials such as glass, plastic, paper & paperboard, metal, and others.

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Key Players:

FMI has identified SGS SA, Bureau Veritas SA, Eurofins Scientific SE, Intertek Group PLC, and TÜV SÜD Aktiengesellschaft as top players in the market, collectively accounting for more than 10% of the global market share in 2023.

Effective Growth Elements:

1. Global Presence and Service Offerings: The market’s growth is supported by the global presence of key players, increasing customer access to package testing. Industry participants are expanding their global presence and service offerings to capitalize on new opportunities.
2. Expansion of Online Retailing: The expanding online retailing of food and other goods through e-commerce platforms drives the need for safe transportation of goods. Packaging drop testing becomes crucial to ensure the safety and durability of packaged products during transportation and handling.
3. Pharmaceutical Industry Growth: The growing pharmaceutical industry and industrialization fuel market growth, as pharmaceutical products require packaging and testing measures to comply with standard requirements.
4. Packaging Compliance Testing: Rising concerns about product safety and quality, along with strict packaging laws, drive demand for package testing. Packaging compliance testing evaluates packaging goods and materials for conformity with various rules and specifications, contributing to market expansion.

Market Surge Fueled by Stringent Regulations and E-commerce

Several key factors are driving this market expansion:

• Stricter Regulations: The introduction of new standards and regulations for packaging safety is propelling the demand for packaging testing equipment, leading to a projected 13% CAGR in 2023.

• Evolving Consumer Needs: Over the past few decades, packaging for consumer products has undergone a significant transformation, with a focus on extending shelf life and minimizing product damage. This necessitates efficient packaging testing across various materials like glass, plastic, paper, and metal.

A Future of Innovation and Sustainability

The packaging testing market presents a promising future driven by innovation, e-commerce growth, and a focus on sustainability. By addressing evolving consumer demands and regulations through advanced testing solutions, market players are well-positioned to capitalize on the vast potential within this dynamic landscape.

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Key Players

• SGS SA
• Intertek Group Plc
• Bureau Veritas SA
• Eurofins Scientific SE
• ALS Limited
• TUV SUD AG
• Mérieux NutriSciences Corporation,
• Microbac Laboratories Inc.
• National Technical Systems Inc.
• EMSL Analytical Inc
• Institut fur Produktqualität GmbH
• Campden BRI

Key segments

By Testing Type:

• Physical
• Chemical
• Microbiological

By Material Type:

• Plastic
• Paper and Paperboard
• Glass
• Wood and Others

By Packaging Application:

• Food and Beverages
• Healthcare
• Pharmaceuticals
• Medical Devices
• Chemical and Fertilizers
• Personal Care and Cosmetics
• Electrical and Electronics
• Automotive
• Industrial

By Region:

• North America
• Latin America
• Europe
• Middle East and Africa
• East Asia

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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