Packaging Testing Market Players Look to Capitalize on Growing E-commerce Sales
In its recent publication, ESOMAR-certified Future Market Insights projects the global packaging testing market to exceed the US$ 20 billion by 2030. Growing demand from e-commerce is likely to provide lucrative opportunities to packaging testing vendors during the assessment period.
Packaging Testing Market
A recent market report published by FMI on the Packaging Testing Market provides global in...
According to FMI, the packaging testing market is riding on the back of increased demand for efficient packaging solutions across such key domains as food & beverages, consumer electronics, pharmaceuticals and cosmetics & personal care products.
Goods are highly susceptible to damage from external conditions while in transit. These typically include moisture, humidity, fluctuating temperatures or external physical shocks. Therefore, industries are looking to incorporate advanced testing solutions so as to improve their packaging approaches.
Key Takeaways from FMI’s Packaging Testing Report
- Microbiological tests to ascertain presence of pathogens is likely to register impressive growth
- Plastic packaging material testing to gain momentum due to its extensive usage across key verticals
- Food and beverage packaging testing to witness substantial growth, pharmaceuticals to ride coattails
- Asia Pacific to record fastest growth, North America to retain market supremacy
- Vendors embracing automated testing solutions to provide results within a shorter timespan
“Vendors are capitalizing on consumers’ growing enlightenment about unauthorized usage of recycled packaging materials to introduce novel solutions in the forthcoming forecast decade,” remarks an FMI analyst.
COVID-19 Impact Insights
The COVID-19 pandemic has disrupted the global economy, with production and supply chain distortions being experienced virtually by every industry. Since manufacturing is directly linked to packaging, the industry is slated to register major revenue shortfalls in the near term.
With respect to packaging testing, the market has experienced moderate to substantial shortcomings since the pandemic’s onset. This is because demand for pharmaceutical and food & beverage products have kept demand for robust packaging solutions sustained throughout the past few quarters.
As countries are gradually phasing out lockdowns, industrial production is slowly returning to normal levels, leading to an upswing in the packaging industry for the remainder of the assessment decade. This is likely to alleviate the gaps experienced by the packaging testing domain.
Leading packaging testing market players are looking to augment their research capabilities in order to develop new and innovative packaging testing solutions. Furthermore, they are forging strategic alliances with packaging giants as well as competitors to acquire a significant edge.
Prominent players within the packaging testing landscape include SGS SA, Intertek Group Plc, Bureau Veritas SA, Eurofins Scientific SE, ALS Limited, TUV SUD AG, Mérieux NutriSciences Corporation, Microbac Laboratories Inc., National Technical Systems Inc., EMSL Analytical Inc., Institut fur Produktqualitat GmbH and Campden BRI.
In September 2020, SGS S.A. inaugurated a new hybrid commercial onsite geochemistry laboratory at the Balkhash industrial site in Kazakhstan, Central Asia. Through this approach, the company hopes to expand its laboratory testing services portfolio for the chemicals packaging segment.
Also, Intertek Group Plc has announced the initiation of a joint food audit program in collaboration with Roquette, a global leader in plant-based ingredients for food. This audit aims to create a safer food supply chain through best packaging audit practices.
More Valuable Insights on the Packaging Testing Market
Future Market Insights, in its new report, offers an unbiased analysis of the global packaging testing market, analyzing historical demand from 2015-2019 and forecast statistics for 2020-2030. The study reveals growth projections on the packaging testing market on the basis of testing type (physical, chemical & microbiological), material type (plastic, metal, paper and paperboard, glass & wood and others) and packaging application (food and beverages, healthcare, chemical and fertilizers, personal care and cosmetics, electrical and electronics, automotive & industrial) across seven regions.
About Packaging Division at Future Market Insights
The Packaging division at FMI provides an in-depth historical analysis and granular projections of the global packaging market. Ranging from packaging materials to designs & formats, FMI has an exhaustive market research database, serving clients with unique offerings and strategic recommendations. With a repository of 750+ reports, the team analyzed the packaging industry comprehensively in 70+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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