Global Food Processing Seals Market: About this market
Technavio’s food processing seals market analysis considers sales from metals, face materials, elastomers, and others in APAC, Europe, North America, South America, and MEA. In 2018, the metals segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as higher frictional coefficients will play a significant role in the metals segment to maintain its market position. Also, our global food processing seals market report looks at factors such as increasing demand for poultry, dairy, bakery, and confectionery products, growing demand for processed and convenience food, and stringent government regulations. However, volatility in raw material prices, seal-less equipment, and growing demand for fresh and organic food products may hamper the growth of the food processing seals industry over the forecast period.
Global Food Processing Seals Market: Overview
Growing demand for processed and convenience food
Consumer dependency has increased on processed food because of busy lifestyles and time restraints. Due to an increase in urban population along with high urban populationincome, there is a rise in the demand for processed food. This leads to the surge in the number of quick-service restaurants (QSR), especially in some of the developing countries of Asia (India, Indonesia, and Thailand). Thus, growth in the processed food industry directly increases the demand for seals as seals help maintain food hygiene and prevent contamination and leakage. This will lead to the expansion of the global food processing seals market at a CAGR of almost 4% during the forecast period.
Increasing merger and acquisitions
The seals are the mostly undifferentiated products with little scope of organic innovation which is making the companies to move toward inorganic means of growth. Inorganic growth in the global food processing seals market has increased, and large players are buying small regional players to expand geographically and increase their product offerings. Merger and Acquisitions (M&A) not only benefit the seal industry but also other markets, such as fluid control, gaskets, and valves. Due to which vendors are aiming to expand the portfolio of products and offer them as a solution. This increasing M&A is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global food processing seals market during the forecast period 2019-2023, click here.
With the presence of several major players, the global food processing seals market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position. , and iIn line with this, this report provides a detailed analysis of several leading food processing seals manufacturers, that include A.E.S. Engineering Ltd., A.W. Chesterton Co., CDK Engineering Services Ltd., EnPro Industries Inc., Flowserve Corp., Freudenberg SE, IDEX Corp., James Walker Group Ltd., Meccanotecnica Umbra Spa, Smiths Group Plc.
Also, the food processing seals market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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