Portland,OR, Feb. 28, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global food processing seals market was valued at $2.8 billion in 2021, and is projected to reach $4.6 billion by 2031, growing at a CAGR of 5.1% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report coverage & details:
| Forecast Period | 2022–2031 | |
| Base Year | 2021 | |
| Market Size in 2021 | $2.8 Billion | |
| Market Size in 2031 | $4.6 Billion | |
| CAGR | 5.1% | |
| No. of Pages in Report | 233 | |
| Segments Covered | Material Type, Technology Type, Application, and Region. | |
| Drivers | Rise in Advertising and Product Development | |
| Protection of the Product | ||
| Restraints | High Cost of Raw Materials | |
| Opportunities | Growing E-Commerce Industry |
Covid-19 scenario-
- Several restrictions on industrial activities during the pandemic impacted the global food processing seals market negatively.
- The supply chain of raw material of food processing seals was hampered during the outbreak of the pandemic. This led to disruption of the food processing seals market and eventually retrained the growth of the market. However, the market has now got back on track by the end of 2021.
The global food processing seals market is analyzed across material type, technology type, application, and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
By material type, the metal segment held the largest share in 2021, garnering nearly 50% of the global food processing seals market revenue, and is projected to maintain its dominance by 2031. The face materials segment showcases the fastest CAGR of 6.3% during the forecast period.
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By technology type, the vacuum segment contributed to nearly 70% of the global food processing seals market share in 2021, and is projected to rule the roost by 2031. The non-vacuum segment, simultaneously, would display the fastest CAGR of 5.7% throughout the forecast period.
By application, the bakery and confectionary segment accounted for the highest share in 2021, generating nearly 25% of the global food processing seals market revenue. However, the processed food and beverages segment also portray the fastest CAGR of 6.6% during the forecast period.
By region, the market across Europe held the major share in 2021, garnering nearly 40% of the global food processing seals market. LAMEA, on the other hand, would showcase the fastest CAGR of 8.3% from 2022 to 2031.
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Top Players:
The key market players analyzed in the global food processing seals market report include Flowserve Corp, James Walker, Meccanotecnica Umbra, A.W. Chesterton Company, SKF, Parker Hannifin Corporation, IDEX Corporation, EnPro Industries, Smiths Group plc and Trelleborg. These market players have embraced several strategies including product launch, collaboration and acquisition, to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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