Global Food Processing Equipment Market to Surpass USD 74 Billion in Next Five Years, Says Meticulous Research
Posted on June 20, 2018
"Food Processing Equipment Market by Type (Meat, Poultry, and Seafood Processing Equipment; Bakery Processing Equipment; Beverage Processing Equipment; Dairy Processing Equipment; Chocolate and Confectionary Processing Equipment; Fruit and Vegetable Processing Equipment; and Other Food Processing Equipment) – Global Opportunity Analysis and Industry Forecast (2017 – 2022)"
The global food processing equipment market will grow at a CAGR of 6.1% from 2017 to 2022 to reach USD 74.019 billion by 2022, according to the latest publication from Meticulous Research®. The global food processing equipment market is driven by the increasing consumer demand for processed food, focus on food safety and safety of workers, growing need to increase productivity, increasing focus of food manufacturers to reduce production cost, and government support to promote food processing sector. In addition, emerging economies such as Latin America, South East Asia, and Africa provides significant opportunity for the manufacturers in the global food processing equipment market. However, high cost of equipment and increasing inclination towards consumption of minimal processed food restrict the growth of this market to some extent.
Key Market Segments to Watch
The global food processing equipment market is mainly segmented by type into meat, poultry, and seafood processing equipment (cutters and grinders; smokers, massagers, and tumblers; mixers; tenderizers; killing and defeathering equipment; slicers; evisceration equipment; cookers, roasters, and grillers; deheading and gutting equipment; filleting equipment; and others), bakery processing equipment (ovens and proofers; dough mixers; moulders and sheeters; dividers and rounders; depositors; and others), beverage processing equipment (brewery equipment; filtration equipment; carbonation equipment; blenders and mixers; and others), dairy processing equipment (pasteurizers; homogenizers; separators; evaporators and drying equipment; membrane filtration equipment; and others), chocolate and confectionary processing equipment (depositors; formers; coating and spraying systems; mixers; coolers; and others), fruit and vegetable processing equipment (juice extractors; peelers, cutters, and pulpers; dryers; evaporators; and others), and other food processing equipment (cereal & grains processing equipment, fat & oil processing equipment, snacks food processing equipment, and others).
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Meat, poultry, and seafood processing equipment to dominate the food processing equipment in 2018
The large share of meat, poultry, and seafood processing equipment is mainly attributed to increasing demand of processed meat products due to growing global population, urbanization, and consumer preference for protein-rich food products. However, chocolate and confectionary processing equipment market is expected to witness fastest growth during the forecast period. The rapid growth of this market is attributed to increasing focus of manufacturers on quality products manufacturing, integration of innovative processes, product innovation, building & maintaining strong brand of products, and optimization of traditional processes in this field. Also, once considered luxury products in some developing nations, chocolate and other sweets have become more attainable and attractive as living standards in these countries increase, ultimately driving demand for chocolate and confectionery processing equipment.
Regional Market Growth Trends
Geographically, the global food processing equipment market is segmented into North America (U.S. and Canada), Europe (Germany, France, Italy, U.K., Spain, The Netherlands, and RoE), Asia Pacific (China, India, Japan, Australia, and RoAPAC), Latin America (Brazil, Mexico, Argentina, and RoLATAM), and Middle East & Africa.
Asia-Pacific region is expected to hold the largest share in the global food processing equipment market in 2018, followed by Europe, and North America. The major share of this region is mainly attributed to increasing demand of processed food products in emerging and developing countries including India, China, Indonesia, and Thailand; and increasing investments from major food processors. This region is witnessing tremendous growth for food and beverages industry, primarily due to the increasing urbanization, health awareness, and disposable income; as a result, numerous food and beverage firms in this region are transitioning from manual to mechanical food processing in order to increase output and develop new products, which ultimately drives the food processing equipment market.
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Top Companies in the Food Processing Equipment Market
The key players operating in the global food processing equipment market are Bühler AG (Switzerland), Marel HF (Iceland), GEA Group Aktiengesellschaft (Germany), Bucher Industries AG (Switzerland), John Bean Technologies Corporation (U.S.), The Middleby Corp (U.S.), Heat and Control Inc. (U.S.), SPX Flow Inc. (U.S.), Alfa Laval AB (Sweden), Nichimo International Inc. (Japan), Krones AG (Germany), Paul Mueller Company (U.S.), Key Technology Inc. (U.S.), and Tetra Pak International S.A. (Switzerland).
These vendors employed various strategies to expand their product and application offerings, global footprint, and augment their market share. The key strategies followed by most companies in the global food processing equipment market were acquisitions and expansions.
Key questions answered in the report-
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