Anuga FoodTec 2018 draws to a conclusion amid projected growth in technology and equipment markets
23 Mar 2018 --- Anuga FoodTec 2018, Cologne, saw the industry come together once again to exhibit the latest innovations in food processing and packaging equipment and technologies. The show reaches its conclusion amid optimistic market projections, with new research forecasting growth at a CAGR of seven percent for the food packaging technology market and CAGR of six percent for the food packaging equipment market.
PRNewswire has reported on research which estimates the packaging technology market at US $41.36 billion in 2018 which is expected to rise to US $41.36 billion by 2023. Meanwhile, the food packaging equipment market is estimated at US $19.72 billion in 2018 and is projected to reach US $26.96 billion by 2023.
Anuga FoodTec is a biannual tradeshow which promotes itself as a key driving force in the food and beverage industry, fueling the industries growth. It covers all aspects of production, including:
- Process technology
- Filling and packaging technology
- Packing materials, packaging, packaging aids
- Automation, data processing, controlling and regulation technology
- Safety and Analytics, quality management
- Operating materials, environmental technology, biotechnology
- Refrigeration and air-conditioning technology
- Conveying, transport and storage installation, logistics
- Ingredients, auxiliary materials
- Components, assemblies, surface technology, accessories
- Service firms, organizations, publishers
Biodegradable packaging was a key innovation on display at Anuga this year. Innova Market Insights reports on promising growth in this area, with new food and beverage launches featuring bio-based or biodegradable packaging showing an average annual growth rate of 41 percent CAGR between 2013 and 2018 in the global market.
Anuga exhibitors were also keen to highlight the cost-effectiveness and sustainability of their latest innovations, technologies and applications. The market is being driven by factors revolving around consumer demand for more environmentally-friendly products, as consumption of fresh and high-quality foods increases.
The industry also continues its trend of globalization, driving innovation in aseptic technologies that are capable of extending product shelf life and therefore, can maintain freshness over global transportation routes. KHS, for example, was showcasing such technology.
Meanwhile, food production companies continue to look for more cost-effective and sustainable machinery with greater durability and power efficiency.
WorldPackagingOnline attended Anuga Foodtech 2018 and will report further on the innovations, trends, and applications that were on display in the coming days.
