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The global food processing and handling equipment market size is projected to reach USD 133.39 billion by the end of 2027. The presence of several large scale manufacturers will have a positive impact on market growth. According to a report published by Fortune Business Insights, titled “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, 2020-2027”, the market was worth USD 96.29 billion and will exhibit a CAGR of 4.1% during the forecast period, 2020-2027.
Food processing and handling equipment are an integral part of all major phases in the food processing sector. These equipment are used to streamline all phases in the food processing sector including packaging, storing, and transporting. The massive investments in the integration of advanced concepts such as AI and IoT will have a positive impact on market growth, given that these concepts enable ease of use and further simplify the overall process. The increasing concerns regarding safety and reliability in food processing and handling procedures and the ability of these equipment to enhance the overall safety and improve reliability will lead to a wider product adoption. The rise of the food and beverage industry has created a healthy market competition across the world.
Middleby Corporation’s Acquisition Deutsche Beverage Technology of will have a Massive Global Impact
The report highlights a few of the major industry developments of recent times and discusses their impact on the growth of the overall market. Accounting to the massive potential held by food processing and handling equipment, large scale companies are looking to integrate advanced technologies, with the aim of establishing a strong brand image across the globe. With most companies looking to expand their businesses across the globe, it is observed that company mergers and acquisitions are an increasing trend among major companies across the globe. Middleby Corporation’s recent acquisition of Deutsche Beverage Technology is a perfect example of a major company M&A of recent times. Increasing number of such acquisitions will have a massive impact on the growth of the overall food processing and handling equipment market in the coming years.
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Increasing Awareness Regarding Food Safety will Emerge in Favor of Market Growth
The growing awareness regarding food safety and proper handling in manufacturing units will create several growth opportunities for the companies in this sector. The rising demand for packaged foods is another factor that has been influential to the growth of the overall market in recent years. Moreover, the rising investments in integration of tools that will ensure food safety and hygiene will bode well for the growth of the overall market in the coming years.
Buhler AG, GEA, Alfa Laval, and JBT Corporation are Among the Leading Companies in the Global Market
The presence of several large scale companies in the food processing and handling equipment sector is consequential to the rise of the global food and beverage sector in the past two decades. Company mergers are an increasing trend among major companies; a factor that is a result of the healthy market competition. Among all companies, Buhler AG, GEA, Alfa Laval, and JBT Corporation currently hold the highest market share.
List of companies profiled in the report:
The global market is segmented on the basis of:
Value (USD Billion)
By Equipment Type