The food processing equipment market size is likely to be worth USD 63.74 billion by the end of 2026, attributable to the surging demand for convenience food items. As per the report by Fortune Business Insights titled, “Food Processing Equipment Market Size, Share & Industry Analysis, By Equipment Type (Pre-processing Equipment, and Processing Equipment), By Automation Type (Automatic, and Semi-automatic), By Application (Bakery and Confectionery Products, Meat and Poultry Products, Dairy Products, Beverages, and Others) and Regional Forecast, 2019-2026,” the market is anticipated to rise from USD 42.75 billion in 2018 and grow at a CAGR of 5.2% between 2019 and 2016.
Food processing equipment is utilized for the processing of raw materials into consumables. Additionally, other industries such as meat and poultry, bakery, dairy, and others also choose bespoke food processing equipment for better food product conditioning. Food processing machineries offer safe, hygienic, attractive, and convenient variety of consumable food products, allowing cost-efficient food processing, and this is expected to attract more market revenue in the forecast duration.
Important factors promoting the food processing equipment market growth include rise in demand for ready-to-eat food items, frozen food, and hygienic food products. Besides this, the surge in awareness about food safety and adoption of technologically-advanced processing machineries will bode well for the market.
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Key Segments of Food Processing Equipment Market
- Equipment type – On the basis of equipment type, the market is segmented into pre-processing and processing equipment. Among these, the processing equipment segment is expected to witness exponential growth on account of their increasing demand from the food and beverage sector. Processing machineries are used for processing raw ingredients and converting them to ready-to-eat products.
- Automation Type – With respect to automation type, the market is categorized into semi-automatic and automatic. Among these, the automatic segment will contribute to larger food processing equipment market share owing to the accelerating popularity due to the advent of advanced technology in such equipment.
- Application – In terms of application, the market is divided into beverages, meat and poultry products, dairy products, bakery and confectionery products, and others (vegetables, fruits, grains, nuts, and others). As per the multiple secondary sources, the bakery and confectionary sector market size is expected to reach USD 530 billion by 2021 with a CAGR of 4.5%. This indicates the dominance of the bakery and confectionary segment both currently as well as in forthcoming years. The meat and poultry segment will also show remarkable growth on account of rise in demand for hygienic meat products from hotels, commercial restaurants, and other food service industries.
- Region – The geographical segmentation of the food processing equipment market includes North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Among these, the largest market share is held by Asia Pacific attributable to the evolving food processing machineries in emerging nations such as China and India. In addition, the rise in demand for frozen food in nations such as Australia and China is further anticipated to boost the market growth in the coming years.
Recent key industry developments of the food processing equipment market include
- July 2018 – For the expansion of their portfolio, Baader invested in a new salmon processing machine line of Norvelita, known for its surimi and fish processing machine manufacturing.
- October 2019 – A new cost-efficient standard heavy-duty mixer called Centerline HMM20 was introduced by Hobart for multiple applications in the kitchen such as mixing and blending of dough.
Setting up of New Manufacturing Units Worldwide to Help Companies Strive for Top Position in Market Competition
Currently prominent players such as Tetra Pak,Marel, JBT, and Buhler AG are emphasizing on opering new bases worldwide. This will help in the expansion of their business portfolio in the future. For instance, A new approach to the processing and machinery milling plant was revolutionized by Buhler AG in August 2019.
Some of the significant players operating in the food processing equipment market are mentioned below:
- ALFA LAVAL
- Krones AG
- The Middleby Corporation
- Buhler Ag
- GEA Group Aktiengesellschaft
- Tetra Pak International S.A.
The global food processing equipment market is segmented in the following manner:
Value (USD billion)
By Equipment Type
- Pre-processing Equipment
- Processing Equipment
By Automation Type
- Bakery and Confectionery Products
- Meat and Poultry Products
- Dairy Products
- Others (Grains, Fruits, Nuts and Vegetables, and others.)
- North America (the U.S. and Canada)
- Europe (U.K., Germany, France, Italy and the Rest of Europe)
- Asia Pacific (Japan, China, India, Southeast Asia, and the Rest of Asia Pacific)
- Middle East & Africa (South Africa, GCC and the Rest of the Middle East & Africa)
- Latin America (Brazil, Mexico, and the Rest of Latin America)