Packaging Testing Market by Type, Material, Technology, Industry, and Region - Global Forecast to 2022
LONDON, Aug. 1, 2017 /PRNewswire/ -- "Packaging testing market projected to grow at a CAGR of 12.0%"
The packaging testing market is projected to reach USD 14.64 billion by 2022, at a CAGR of 12.0% from 2017. The market is driven by factors such as the establishment of stringent regulations in the packaging and packaged products industry by developed as well as emerging countries due to increasing product recalls and cases of illness & hospitalizations caused by faulty packaging. The growth in the market is also attributed to the technological advancements due to increased R&D investments by companies.
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Factors such as increasing packaging testing cost with the adoption of advanced technologies and the lack of standardization in regulations across various
regions are restraining the market growth.
"Plastics segment dominated the market with the largest share in 2016"
The plastic packaging segment accounted for the largest market share among the different material types for packaging testing in 2016 with the wide usage of plastic packaging in various industries due to its advantages such as lightweight and cost effectiveness over other packaging materials. The largely tested plastic packaging types are flexible plastics and rigid plastics. The demand for rigid plastic testing has been driven by high demand from the packaging industry. The market for flexible package testing is driven by its convenience.
"Physical tests segment led the market with the largest share in 2016"
Physical testing methods are segmented into conventional and non-conventional. The conventional techniques are visual or optical inspection, dye penetrant testing, magnetic particle testing, Eddy current testing, radiography testing, and ultrasonic testing. The non-conventional methods are used only for specific applications and include neutron radiography, acoustic emission, thermal and infrared testing, strain sensing, leak testing, and holography. The physical test technologies provide assurance of reliability, quality, and high performance of packaging, which in turn drives its market.
"Pharmaceutical industry dominated the market in 2016"
The packaging quality of pharmaceutical products plays a vital role in ensuring their protection. It involves the testing of a wide range of packaging materials such as paper, paperboard, cardboard, and rigid plastic packaging materials. This market is driven by the need for new safe packaging material and Good Manufacturing Practices (GMP) compliance for packaging materials used by pharmaceutical companies.
"China contributed to the largest market share in the Asia-Pacific region in 2016"
The European region dominated the packaging testing market in 2016, whereas the Asia-Pacific region is projected to grow at the highest CAGR during the forecast period. The high amount of retail and FMCG industry development in countries such as India and China is also a contributing factor for the growth of this market in the Asia-Pacific region.
The figure below shows the breakdown of the primaries on the basis of the company, designation, and region, conducted during the research study.
By Company Type: Tier 1 – 38%, Tier 2 – 42%, and Tier 3 – 20%
By Designation: C level – 45% and D level – 55%
By Region: North America – 10%, Europe – 70%, Asia-Pacific – 15%, RoW – 5%
Major players such as SGS S.A. (Switzerland), Bureau Veritas SA (France), Intertek Group Plc. (U.K.), Eurofins Scientific SE (Luxembourg), TÜV SÜD AG (Germany), and Mérieux NutriSciences Corporation (U.S.) collectively accounted for a majority of the global packaging testing market. Other players in the market include ALS Limited (Australia), National Technical Systems, Inc. (U.S.), Microbac Laboratories, Inc. (U.S.), EMSL Analytical Inc. (U.S.), Campden BRI (U.K.), and Institut fur Produktqualitat GmbH (Germany).
Research Coverage:
The report focuses on packaging testing services for different materials and regions. It aims at estimating the market size and future growth potential of this market across different segments—type, material type, technology, end-use industry, and region. Furthermore, the report includes an in-depth competitive analysis of the key players in the market along with their company profiles, competitive leadership mapping, recent developments, and key market strategies.
Reasons to buy this report:
• To get a comprehensive overview of the global packaging testing market
• To gain wide-ranging information about the top players in this industry, their service portfolios, and key strategies adopted by them
• To gain insights of the major countries/regions in which the packaging testing market is flourishing
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