Increased demand by food and beverage sector continues to fuel demand for packaging solutions globally.
DUBAI, UAE / ACCESSWIRE / October 21, 2020 / The packaging testing market is witnessing heightened demand for safe and secure packaging solutions to avoid breakage, shocks or corrosion. Considering the rise in e-commerce sales during the lockdown, and growing focus on hygiene, packaging testing is likely to gain ground during the assessment period.
'Introduction of novel solutions and usage of recycled packaging materials are presenting lucrative opportunities. Industries are planning on introducing advanced testing solutions to improve packaging approaches,' says the FMI Analyst.
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Packaging Testing Market- Key Highlights
- North America will retain market supremacy while Asia-Pacific to record fastest growth.
- Plastic packaging materials testing will gain significant momentum due to extensive usage across major verticals.
- Food, beverage and pharmaceuticals will witness substantial market growth through the forecast period (2020-2030).
- On the basis of type, microbiological tests will gain significant traction as it ascertains the presence of pathogens
. Packaging Testing Market- Driving Factors
- Urbanization and rising disposable income accelerates the demand for ready-to-eat packaged food.
- Usage of plastic packaging materials will find employment in major end-use industries for the transportation of goods.
- Drug formulation market has witnessed surging demand for strong and robust packaging solutions to avoid quality degradation.
- Convenient packaging solution is highly beneficial in protecting in-transit parcels against breakage, corrosion or spoilage.
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Packaging Testing Market- Key Restraints
- Higher expense remains a deterrent, especially during the pandemic due to reduced income.
- Lack of standard regulations is posing a major threat to the market.
COVID-19 Impact on Packaging Testing Market
COVID-19 pandemic has disrupted global supply chain across the economies. Disturbance in manufacturing process has resulted in a downfall of packaging industry as well. As countries are gradually phasing out lockdowns, industrial production is reaching to normal levels. This will in turn affect the packaging industry in a positive manner.
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Leading players are working on augmenting research capabilities in order to develop product portfolio. Strategic alliance and acquisitions are among the key strategies used by the players.
FMI's report on Packaging Testing Market presents exclusive details of key market players. SGS SA, Intertek Group Plc, Bureau Veritas SA, Eurofins Scientific SE, ALS Limited, TUV SUD AG, Mérieux NutriSciences Corporation, Microbac Laboratories Inc. are few of the major participants.
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FMI's report provides proper segmentation and analysis of market trends and macro-economic factors on the basis of material (paper, metal, plastic), testing type (physical, chemical, microbiological), packaging application (food and beverage, medical, personal care, healthcare, pharmaceuticals etc.), and region-wise segmentation (North America, Asia-Pacific, Oceania and Europe).
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