Newark, NJ, July 23, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global food processing seals market is expected to grow from USD 2.8 billion in 2019 and reach USD 3.5 billion by 2027, growing at a CAGR of 2.5% during the forecast period 2020-2027.
The food processing seals market is particularly expanding in emerging economies like India and China. With a rising middle-class population, the market is burgeoning in these countries. It is expected that the increasing demand for processed & packaged food will boost demand for food processing seals on a global scale. Furthermore, another factor driving the food processing seals market is the need to save raw materials from degradation by processing them. In addition, the existence of strict regulations & standards regarding the use of seal material and food-grade seals is anticipated to augment the market demand. Changing lifestyle patterns and food consumption habits are fuelling the growth of the food processing seals market.
In order to avoid leakages, food processing seals are used in the food processing industry. By preventing the growth of microbes, seals deter any contamination of the food. The sealing materials used in the industry are required to adhere to regulations like the FDA, NSF, 3A standards, and are also required to be resistant to corrosion.
With the outbreak of a global pandemic, many have faced salary cuts and job losses. Covid-19 has become a threat to the entire world’s economy and has negatively impacted all kinds of markets, including the food processing seals market. With less disposable income and broken supply chains, the growth of the market is expected to slow down. Other factors that hamper the growth of the market are volatility in raw material prices and the increasing popularity of organic foods.
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Key players operating in the global food processing seals market include Trelleborg AB, EnPro Industries, Inc., Smiths Group Plc, Flowserve Corporation, Parker Hannifin, SKF, A.W. Chesterton Company, AESSEAL Plc, Freudenberg Group, James Walker, and Meccanotecnica Umbra S.p.A., among others. To gain the significant market share in the global food processing seals market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.
- For instance, Freudenberg unveiled two elastomers in November 2018, namely 75 EPDM 386 & 85 EPDM 387. These elastomers may be used in the food industry as a material for O-rings and machined formed parts.
- In January 2016, EagleBurgmann introduced a shaft seal for agitators called the SeccoMix1 which can be used in dryers, mixers, agitators and suction filters used in food processing.
Metals dominated the market and held the largest market share of 62% in the year 2019
The material type segment comprises of elastomers, metals and face materials. Metals dominated the market and held the largest market share of 62% in the year 2019. This is mainly due to its various applications in the different elements of seal drives and the design freedom aspect since metals are not confined by temperature or chemical limitations.
Bakery & Confectionery dominated the market and valued at USD 910 million in the year 2019
On the basis of application, the market has been segmented into dairy products, meat, poultry & seafood, alcoholic beverage, non-alcoholic beverage, and bakery & confectionery. Bakery & confectionery dominated the market and valued at USD 910 million in the year 2019. This can be attributed to the enormous worldwide demand for baked products & chocolates.
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Regional Segment Analysis of the Food Processing Seals Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global food processing seals market classified into North America, Europe, South America, Asia Pacific, and the Middle East and Africa. The Europe region accounted for the major market share of 37.2% in the year 2019. It is projected that Europe will be the leading market for seals for food processing over the forecast perioddue to increasing food processing & production in the region.
On the other hand, the Asia Pacific region is anticipated to grow at the highest CAGR of 4.1% over the forecast period. Growth in the APAC region’s market for food processing seals is because of the rising production of processed food, and the high demand for bakery & confectionery products. Emerging economies like India and China are especially attractive countries of the APAC region wherein high growth rates can be seen over the forecast period.
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About the report:
The global food processing seals market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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