The Global Market for Food Processing Machinery and Equipment is Projected to Reach US$89 Billion by 2024

Rapid Demand for Processed Foods to Spur Growth in the Global Food Processing Machinery and Equipment Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Food Processing Machinery and Equipment market. The global market for Food Processing Machinery and Equipment is projected to reach US$89 billion by 2024, driven mainly by the growing demand for convenient, safe, nutritious and clean label processed and packaged foods. The increasing importance of automation and advanced technologies is also expected to influence market growth.

Food processing machinery and equipment has become an indispensable component of the food processing industry. Designed to transform raw food ingredients into food products using a variety of chemical and physical methods, food processing machinery, such as grinders, dryers, chillers, feeders, mixers, roasters, separators, ovens, slicers, grinders and homogenizers, are being increasingly used in poultry, seafood, industrial bakery, dairy, beverage, chocolate making, and vegetable processing sectors. With role across all stages of the food processing chain, food processing machinery and equipment is inherently linked to the structure, behavior, demand and technical trends in the food processing industry.

Spurred by the rising consumer demand for an ever increasing variety of processed foods such as processed meat and seafood, dairy products and fruits and vegetables, the global market for food processing machinery and equipment is experiencing stable growth. Expanding global population, changing consumer lifestyles and dietary habits, increasingly hectic schedules of people and urbanization trend are all propelling consumption of processed foods and ready-to-eat/ready-to-cook, convenience foods, thus driving growth in the food processing machinery market. Processed foods add significant value to fresh food items, making them easy to cook, eat and store and therefore are growing in demand among people all over the years. Developing countries such as China and India are witnessing strong growth in consumption of processed and packaged foods, supported by favorable economic environment, increasing disposable incomes of people, and urbanization trend that is driving consumer demand for convenience foods.

Increasing participation of women in workforce and growing number of nuclear households are also transforming dietary habits, with people showing increased preference for easy-to-prepare foods. With world’s population increasingly shifting towards urban locations, the need for packaging and shipping of food products to expanding cities continues to grow, thus enhancing the need for industrialized methods to produce food on a mass scale. This has consequently spurred the demand for food processing equipment. With consumers increasingly demanding safe, nutritious, hygienic and clean label food products, demand for processed foods and hence food processing machinery continues to gain momentum. Rising concerns over safety of foods and the need to adhere to food safety standards and regulations are also driving demand for advanced food processing machinery.

The need for advanced food processing machinery is also growing due to the rapid increase in the number of product varieties being produced, and the increasingly complex production processes being employed. Food processing machinery also benefits from the growing need for shelf-stable foods particularly in areas with shortage or absence of cold chain facilities. Automation technologies are increasingly becoming vital for food processing equipment, with manufacturers of food products increasingly opting for automated equipment due to the advantages offered in terms of higher speed, reduced energy consumption and time and cost savings. Vendors are also targeting development of smart food processing equipment, which will allow operators to start/interact with equipment and identify failures or problems from remote locations anytime.

As stated by the new market research report on Food Processing Machinery and Equipment, Asia-Pacific represents the largest market worldwide. The region is also forecast to register the fastest CAGR of 8.8% over the analysis period. Rapid growth of food and beverage industry in emerging economies such as India and China is fueling growth in the region’s food processing machinery market. Robust economic growth, rise in employment levels, growing purchasing power of middle class consumers, increase in demand for a variety of foods, and increasing per capita spending on processed foods all contributing to the growth of food processing machinery market in Asia-Pacific. In developed economies, despite the mature market conditions, the market for food processing machinery benefits from the growing need to replace obsolete equipment with those based on advanced technologies.

Major players in the market include Alfa Laval, Atlas Pacific Engineering Company Inc., Bucher Industries AG, Bühler AG, GEA Group AG, Heat and Control Inc., John Bean Technologies Corporation, Key Technology Inc., Marel, Marlen International, Meyn Food Processing Technology B.V, Rheon Automatic Machinery Co. Ltd., Satake Corporation, SPX Flow Inc., Tetra Laval International S.A., The Middleby Corporation, and Wenger Manufacturing Inc., among others.

The research report titled “Food Processing Machinery and Equipment: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America (Brazil, Mexico and Rest of Latin America) and Rest of World. The report analyzes the Food Processing Machinery and Equipment market by the following Product Groups - Meat/Poultry Processing Equipment, Fish/Seafood Processing Equipment, Dry Foods Processing Equipment, Beverages Processing Equipment, Pre-Prepared Foods Processing Equipment, Dairy Products Processing Equipment, Fruit/Vegetable Processing Equipment, Grain Mill Processing Equipment, Fats & Oil Processing Equipment, and Multi-Products/General Purpose Processing Equipment.

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