Estimated Impact of COVID-19 Epidemic on the Packaging Testing Market Growth in 2020, by Region and Scenario

The report titled ‘Global Packaging Testing Market – Growth, Share, Opportunities, and Competitive Analysis, 2016 – 2024’ offers strategic visions into the global packaging testing market along with the market size (Revenue – US$ Billion) and estimates for the duration 2016 to 2024. The said research study covers in-depth analysis of multiple market segments based on type, technology, end-user industry, and study across different topographies. The report is also inclusive of competitive profiling of the leading packaging testing vendors, and latest developments.

The packaging industry is continuously indulging with the same becoming more than just a protective outer layer. Packaging serves the most crucial need of the product by protecting it, which in turn acts as a prospect for the packaging manufacturer to design such a package that could easily attract the consumer attention towards their product. Packaging is also being altered to suit the needs of the fast food consumer who are rapidly replacing traditional meals with packaged foodstuff. This has led to an increase in the need for testing the package of products in order to ensure the long shelf life and reduction in any sort of costs involved right from packaging till it is being delivered to the end customer. Packaging plays a significant part in the assurance of the quality and integrity of the product inside. It not only affects the product but also manifests itself in the end product in which the product is used. Governments across the world are implementing rigorous guidelines to ensure quality of the products. Testing is an integral part of these guidelines which makes it one of the core drivers in this market. The global packaging testing market is estimated to be growing at a CAGR of 11.8% from 2019 to 2024, to reach US$16.57 billion by 2024.

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The growth of the global packaging testing market is largely driven by factors such as increase in demand for packaging industry, and ever-changing lifestyles which has increased the need for ready to eat meals and a necessitated their packages to be tested. In addition, the rising consumer awareness towards sustainable packaging and safe packaging will also drive the demand for packaging testing in the projected period. However, non-implementation of the testing regulations in some developing regions and non-compliance by packaging manufacturers have led to be the major factor restraining the growth of this market. However, the FDA is making sure to implement and compulsive all the packaging products to be tested before they are send for packaging.

The global packaging testing market is segmented based on type, technology, and end-user. The global market, based on type, is segmented into physical, chemical, and microbiological. The physical segment dominated the market with the largest share in 2017 since the determination of physical properties of a product is an essential application for packaging testing. The global market, based on technology, is segmented into physical tests, spectroscopy & photometric-based, chromatography-based, and others which include chemical test, molecular, and isotope methods. The physical tests segment dominated the market in 2017. The spectroscopy & photometric-based segment is projected to grow at the highest CAGR of 12.0% from 2019 to 2024. The global market, based on end-use industry, is segmented into food & beverage, agrochemicals, pharmaceuticals, personal care, and others which include various industries such as textile, automobile, transportation, environmental, and other consumer goods.

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Based on geography, the global packaging testing market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America comprises U.S., Canada, and Mexico whereas Europe would primarily cover Germany, France, UK, Italy, and Rest of Europe. The key countries included under Asia Pacific are China, Japan, India, Australia, and Rest of Asia Pacific. In Latin America, Brazil, Argentina, and Rest of Latin America are the key segments whereas in Middle East & Africa, South Africa and Rest of MEA are the key segments covered in the report. The North American region is projected to dominate the packaging testing market by 2024. The Asia-Pacific region is projected to be the fastest-growing market during the forecast period since the demand from the food & beverage industry is projected to increase in the coming years.