Food Processing Equipment Industry Overview
The global food processing equipment market size is expected to reach USD 89.31 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.1% from 2021 to 2028. The changing lifestyle of people, increasing inclination toward nutritious food, and awareness about the health benefits of marine products are expected to surge the product demand over the coming years.
Food Processing Equipment Market Segmentation
Grand View Research has segmented the global food processing equipment market on the basis of mode of operation, type, application, and region:
Based on the Mode of Operation Insights, the market is segmented into Automatic, Semi-automatic.
- The semi-automatic segment held the largest revenue share of 50.59% in 2020. Automatic processing equipment is expected to expand at a significant CAGR from 2021 to 2028 owing to the high demand for technological development, growing use of automation, and strong research and development capabilities of market players.
- Previously, manufacturers used to opt for semi-automated equipment owing to the availability of labor, low cost of the semi-automated product, and financial budget. As the demand for processed food had increased, the manufacturers preferred to have automated systems in the market.
- The rise in demand for fast and packaged food is expected to compel manufacturers to expand their production capabilities, which is likely to trigger product demand over the forecast period.
Based on the Application Insights, the market is segmented into Bakery & Confectionaries, Meat, Poultry, & Seafood, Beverage, Dairy, Fruit, Nut, & Vegetable, Grains, Others.
- Bakery and confectionaries held the largest revenue share of 21.71% in 2020. Meat, poultry, and seafood products are expected to witness the fastest growth over the forecast period. The changing lifestyle of people, increasing inclination toward nutritious food, and awareness about the health benefits of marine products have triggered the demand for meat, poultry, and seafood products.
- The moderate growth of the grains application segment is the result of dynamic regulatory changes and taxes imposed. In recent times, the imposed tariffs of China on the shipments from the U.S. depict lower imports of grain in China.
- Rising demand for nutritional enrichment, along with the EU’s support to regulate the application of food additives at the domestic level, is expected to augment market growth in the region.
Based on the Type Insights, the market is segmented into Processing Equipment, Pre-processing Equipment.
- The processing equipment segment held the largest share of over 52.0% in 2020. The segment is expected to witness the fastest growth over the forecast period owing to the high demand for processed products and the increasing popularity of healthy and packaged food.
- Pre-processing equipment deals with mixing, killing, and filleting, which are used in a wide range of application industries. The demand for these systems is expected to emerge from the Middle Eastern and Central and South American nations owing to the growing urbanization, industrialization, and changing consumer eating patterns.
- Currently, over 80% of the people live in urban areas where consumers tend to opt for processed foods, such as frozen, bakery and confectionery, flavored dairy, and other allied products. In addition, advancements in processing and packaging technologies are anticipated to surge the product demand over the coming years.
- The shelf arrangement in the supermarkets or hypermarkets or online sales altogether affects the buying behavior of the customers, which triggers the product sales.
Food Processing Equipment Regional Outlook
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
Mergers & acquisitions, new product launches, and licensing agreements are a few of the strategies adopted by the market players to strengthen their positions. Various government regulatory frameworks, taxes, and standards affect the trading of equipment. Various companies thus tend to opt for innovative and competitive strategies in the market in order to withstand the competition and maintain the position in the market.
Some prominent players in the global food processing equipment market include
- GEA Group Aktiengesellschaft
- BAADER Group
- Bühler AG
- Alfa Laval
- Tetra Laval International S.A.
- Krones AG
- The Middleby Corporation
- JBT Corporation
- SPX Flow Inc.
Order a free sample PDF of the Food Processing Equipment Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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