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Food Processing and Handling Equipment Market Size, Share & COVID-19 Impact Analysis, By Equipment Type (Processing Equipment, Packaging Equipment, and Service Equipment), By Application (Bakery and Confectionery Products, Meat and Poultry Products, Dairy Products, Beverages, and Others), and Regional Forecast, 2022-2029

Region : Global | Format: PDF | Report ID: FBI101701

 

KEY MARKET INSIGHTS

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The global food processing and handling equipment market size was valued at USD 101.23 billion in 2021. The market is projected to grow from USD 105.13 billion in 2022 to USD 140.17 billion by 2029, exhibiting a CAGR of 4.2% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with food processing and handling equipment experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. Based on our analysis, the global market exhibited a decline of 2.1% in 2020 as compared to 2019.


The food processing and handling equipment is primarily utilized for processing meat, seafood, bakery, dairy, and confectionery from their raw form into final products. Several companies are focusing on the integration of advanced concepts such as IoT to enhance the user experience. IoT integrated companies to achieve the highest level of food safety, cut down wastage, improve traceability, and reduce cost and risks associated with various food processing and packaging processes, subsequently contributing to the growth of the global market.


COVID-19 IMPACT


Rising Food Safety Management Concerns Across Food Industry during COVID-19 Impeded Growth


The recent COVID-19 pandemic has adversely affected the manufacturing and food industry, along with a decline in global trade. It is imperative for the food industry to emphasize on personal hygiene rules and offer training to the food industry workers. Governments worldwide are promoting hygienic design and engineering of the food processing and handling equipment through guidelines, educational programs, laboratory testing methods, and training materials for a clean environment and related topics. The Food Safety Management Systems (FSMS) implemented a few principles to manage food safety regulations based on the Hazard Analysis and Critical Control Point (HACCP) analysis.


A recent study by HACCP reported the survival of the coronavirus on different surfaces that remain viable for up to 72 hours on stainless steel and plastic, 24 hours on cardboard, and many more. This factor creates urgency among food processing and handling equipment manufacturers and operators to take personal preventive measures. To ensure resilience in the food industry, efficient staff hygienic practices are performed, thus creating moderate ongoing challenges with the COVID-19 situation.


LATEST TRENDS


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Rising Investments in the Food Processing Industry to Aid Market Growth


Growing R&D investments in food processing technologies are likely to drive the food processing and handling equipment market growth. Investments in integrating IoT and AI and their amalgamation in food processing and handling equipment depict lucrative market opportunities. The increasing investment of domestic as well as foreign companies in the food processing industry of Asia Pacific is attributed to the high product demand.


According to the National Investment Promotion & Facilitation Agency of India, the country's food processing industry is expected to attract USD 33 billion in investments by the end of 2024. As of 2019, about 40,000 food processing facilities are present in India. They are expected to increase significantly over the forecast timeline, providing lucrative opportunities to those companies that are active in the market landscape.


DRIVING FACTORS


Integration of High-end Automation and Robotics Technology in Manufacturing Facilities to Fortify Market Developments


The manufacturers operating in the market are trying to incorporate ultra-modern automation and are also striving to inculcate AI technologies and IoT to execute robotics in manufacturing facilities. These efforts are aimed at increasing food safety and strengthening the supply chain across geographies. The manufacturers are inclined toward performing product monitoring, remote maintenance, and self-diagnosis in manufacturing facilities to increase operational efficiency and improve food processing and handling operations. These automated processing technologies can now be performed seamlessly as the facilities comply with the techniques prescribed under industry 4.0.


Equipment manufacturers focus on providing post-purchase smart services to their customers. For instance, I.M.A. Group proposes smart services such as a digital room (data sharing through Industry 4.0), smart service suite (smart app with integrated virtual and augmented reality), technical services 24/7, and many more.


Increasing Demand for Hygienic Convenience Food Products to Drive Growth


Increasing urban population across diverse geographies and adopting a fast-paced urban lifestyle induced the popularity, manufacturing, and consumption of ready-to-eat food products. As per the Food Drink Europe, the food industry confederation in the European Union, Europe has the highest consumption rate of ready meals (spent up to 6.7 billion in 2017), followed by North America, Asia Pacific, Latin America, and the Middle East & Africa. Therefore, the rising demand for convenience food products is also expected to grow in emerging economies.


RESTRAINING FACTORS


Unawareness about the Rules for Food Safety to Hamper Market Growth


Several governments & food organizations across the world are implementing strict laws & regulations about food processing and handling hygiene due to the rising number of foodborne diseases and the COVID-19 pandemic. Governments worldwide are offering several safety training facilities for food processing and handling machinery operators to minimize the threat of convenience food. It becomes a challenging task for a few emerging small and medium enterprises to implement government rules due to minimal capital funding in their business, restraining the global market growth.


SEGMENTATION


By Equipment Type Analysis


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Food Processing Equipment Segment is Anticipated to Grow at a Higher CAGR Due to Considerable Introduction of Automation Technologies in the Sector


Among equipment types, the processing equipment segment is projected to grow exponentially in the near future, owing to its demand across the food and beverages industry. The processing equipment segment is leading as it is expected to generate a sufficient amount of processed food to cater to customer demand. Increasing sales of ready-to-consume foods and beverages are set to bolster sales of the aforementioned processing equipment over the slated period of time.


The service equipment segment is projected to have a remarkable market share owing to the growing demand for refrigerators and ovens. The equipment used in the food service industry, namely, commercial kitchens, hotels, and restaurants, are generating revenues from sales, post-purchase service, and equipment replacement.


The packaging equipment segment is anticipated to have considerable market revenue owing to increasing demand for perishable food products, health awareness, and dietary.


By Application Analysis


Bakery and Confectionery Products Segment to Hold a Dominant Share Due to Increasing Consumption of Bakery Products Across Cafes in Urban Areas


Bakery and confectionery food products are witnessing growth in several European countries, including the U.K., Germany, and France, as bread and other related bakery products are consumed as a staple food across the region. As per the Federation of Bakers, the average bread consumption in the European Union (EU) is about 50 kg of bread per person every year. Several processing machines are used in commercial bakeries to produce breads of several types and shapes in large quantities and in less time.


The expanding utilization of dairy items across Asia Pacific is estimated to enhance the market development over the forecast timeline. As per the data revealed by the NIPFA, the dairy industry in India is expected to reach around USD 140 billion by the end of 2020.


The global beverages industry is witnessing significant growth owing to the increasing consumption of alcoholic drinks, soft drinks, and fruit juices. The growing consumption of meat & poultry products across North America is expected to propel the market size. According to the North America Meat Institute, in 2017, the U.S.'s meat production totaled 52 billion pounds while poultry production totaled 48 billion pounds.


The others segment consists of grains, nuts, fruits, and vegetables, and it is likely to experience substantial growth, owing to moderate demand and limited requirements for their processing and packaging.


REGIONAL INSIGHTS


Asia Pacific Food Processing and Handling Equipment Market Size, 2021 (USD Billion)

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Asia Pacific is projected to show dynamic growth in the global market value. The rising disposable income and shifting consumer preference toward convenience food & instantly processed food are the major factors influencing the industry growth in APAC. Additionally, the rapidly developing food products manufacturing industry across India and China further enhances the market share.


China is the most populous country globally, making it the biggest contributor to the food and beverages industry. Additionally, the country stands as the number one importer of agricultural products. It is ranked fourth position for imports from the U.S. market in consumer-oriented foods. In 2019, the imports of agricultural products were pegged at USD 133.1 billion in the market in China. Moreover, with stringent regulations and restrictions, China effectively tackled the infection of COVID-19, reducing its effects on the economy and supply chain of the food and processing industry. This factor surged the development of food processing and handling equipment sales in China.


The demand for food processing and handling equipment is expected to have progressive market growth across North America. This factor was mainly due to the swiftly developing food & beverage industry and changing consumer preference for frozen food products. According to the Institute of Food Technologists, frozen food generated approximately USD 57 billion in U.S. retail sales. The rising numbers of food manufacturing plants in the U.S. are also expected to provide impetus to the regional industry growth.


Europe is anticipated to witness significant cumulative market growth over the forecast period due to increasing investments in expanding production facilities across the region. For instance, in November 2019, Kellogg’s announced an investment of approximately USD 121.5 million to expand its Pringles plant in Poland. The new manufacturing plant will help the company cater to the demand for Pringles across Europe.


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The extensive increment in the urban population across the region of Latin America, especially in Brazil and Mexico is expected to bolster market development prospects over the course of time. For instance, according to the statistics published by the Foreign Agriculture Service section of the U.S. Department of Agriculture, in 2018, the food processing industry of Brazil registered a revenue of USD 179 billion, which projected it as one of the prominent players in the global market. Moreover, robust infrastructure setup, substantial private sector and public sector investments, and decreased regional tariffs are some of the critical factors propelling the market in the Middle East and Africa region. For instance, the food processing sector of the UAE witnessed the participation of 568 players, which are essentially small and medium-size entities. These companies are capable of satisfying the requirement of the Middle East region and are also increasing exports in cross-border trade. The increasing operations of these aforementioned entities are spurring the regional market.


KEY INDUSTRY PLAYERS


GEA Focus on Forming Strategic Co-Operations with Processing and Packaging Solution Providers


Buhler AG, GEA, Alfa Laval, and JBT Corporation are prime contributors to the global market. Due to the involvement of numerous participants in the competitive landscape, the market currently has a fragmented structure. These key players are striving to have mergers and acquisitions of smaller entities while simultaneously working on venturing into collaborations and joint ventures to operate more efficiently and have a diversified presence across the globe. For instance, in 2021, Duravant, which operates as automation solutions and engineered equipment provider, has finalized its acquisition of Foodmate, a poultry processing equipment company. Similarly, Alfa Laval signed an agreement in 2018 with a Sweden-based innovative technology patented company for asymmetry heat exchangers, useful for boilers and water heaters in the food and beverages industry. Henceforth, the major market players are acquiring automated equipment providers with low maintenance costs. Additionally, prominent market players are investing heavily in the research and development division to introduce new product launches and elevate product diversity in the existing product portfolio.


LIST OF KEY COMPANIES PROFILED:



KEY INDUSTRY DEVELOPMENTS:



  • September 2021: GEA Group AG, which operates as a prominent manufacturer of components and systems in the food and beverages division, has recently launched an innovative solution called Batch2Flow. The novel solution is developed to enhance the security of the food production process, curtail the consumption of cleaning chemicals, and reduce the usage of water and power consumption to provide economic benefits to the customers.

  • May 2021: Duravant LLC., one of the leading manufacturers of automation solutions and engineered products, has finalized the acquisition of Foodmate, engaged in developing poultry processing equipment. The acquisition is estimated to bolster the sales footprints of Duravant in the food processing, material handling, and packaging sector over the forecast period.

  • January 2022: Ska Fabricating, engaged in the design and development of automated packaging line equipment, announced the acquisition of GR-X Manufacturing, which operates as a manufacturer of beverage packaging line solutions. The acquisition will help the company to elevate its product portfolio diversity and will also strengthen its position in the market.

  • July, 2022: QSR, which operates as a vegan quick-service restaurant chain across the market of Canada, has finalized its decision to establish a manufacturing facility which enables the company to increase its market reach in the retail sector and manage its existing supply needs. This move is expected to increase sales of food processing and handling equipment across the global market.

  • July, 2022: Diageo, which is known as the second largest liquor supplier across the globe, has announced its decision of acquiring Vivanda, which is an operator of FlavorPrint artificial intelligence technology. This decision will lead to the introduction of modern technologies in the food processing industry.


REPORT COVERAGE


An Infographic Representation of Food Processing and Handling Equipment Market

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Additionally, the scope of the study includes three major types of equipment: processing equipment, packaging, and service equipment. This market research report encompasses an in-depth analysis of the global food processing and handling machinery market dynamics and competitive landscape. Additionally, it highlights the recent developments, including mergers and acquisitions and new product launches across countries that would help gauge the market scenario. The report also includes macro and microeconomic factors, SWOT analysis, and company profiles.


Report Scope & Segmentation


















































  ATTRIBUTE



  DETAILS



Study Period



2018-2029



Base Year



2021



Estimated Year



2022



Forecast Period



2022-2029



Historical Period



2018-2020



Unit



Value (USD billion)



Segmentation



By Equipment Type, Application, Region



By Equipment Type




  • Processing Equipment

  • Packaging Equipment

  • Service Equipment



By Application




  • Bakery and Confectionery Products

  • Meat and Poultry Products

  • Dairy Products

  • Beverages

  • Others (Grains, Fruits, Nuts and Vegetables, and Others)



By Region




  • North America (By Equipment Type, Application, and Country)

    • U.S. (By Equipment Type)

    • Canada (By Equipment Type)



  • Europe (By Equipment Type, Application, and Country)

    • U.K. (By Equipment Type)

    • Germany (By Equipment Type)

    • France (By Equipment Type)

    • Italy (By Equipment Type)

    • Rest of Europe



  • Asia Pacific (By Equipment Type, Application, and Country)

    • China (By Equipment Type)

    • Japan (By Equipment Type)

    • India (By Equipment Type)

    • Rest of Asia Pacific



  • Middle East & Africa (By Equipment Type, Application, and Country)

    • GCC (By Equipment Type)

    • South Africa (By Equipment Type)

    • Rest of Middle East & Africa



  • Latin America (By Equipment Type, Application, and Country)

    • Brazil (By Equipment Type)

    • Mexico (By Equipment Type)

    • Rest of Latin America





Frequently Asked Questions

Fortune Business Insights estimates that market was valued at USD 101.23 billion in 2021.

In 2029, the market is expected to be worth USD 140.17 billion.

Asia Pacific is anticipated to be the dominant region in the market, and it was valued at USD 29.74 billion in 2021.

Within equipment type, the processing equipment segment is expected to be the leading segment in the market during the forecast period.

The incorporation of robotics and automated technologies in manufacturing plants and increasing demand for hygienic convenience food products are expected to drive the markets growth.

Buhler AG, GEA, Alfa Laval, and JBT Corporation are the key players in the market.

The bakery and confectionery food products segment is expected to hold the highest share of the market.

Rising investment in the food processing industry is the latest market trend.

The major players in the market hold approximately 30% of the market owing to their well-established brand image and product portfolio.

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