“The food processing equipment market is projected to grow at a CAGR of 7.0%”
The food processing equipment market is projected to reach USD 72.27 billion by 2022 at a CAGR of 7.0% from 2017 to 2022. The market is driven by factors such as rising demand for food processing in dairy, meat, poultry, and seafood applications, growing concerns of consumers about the safety of food products, rising demand for processed and convenience foods, and growing demand for innovative food & beverage products due to changing consumer trends. Factors, such as rising cost of production due to advanced technology used in processing equipment, and increasing demand for minimally processed healthy organic food products are restraining the market.
“Thermal equipment segment led the food processing equipment market by type, with the largest share in 2015”
Thermal processing equipment provides precise control over cooking/chilling processes, resulting in flavor and texture retention. Clean-label is an aspect demanded by consumers nowadays and regular thermal processing technologies are unable to meet this specificity, hence manufacturers are focusing on next-generation thermal processing technologies to significantly reduce thermal processing period of a product to maintain the freshness of the food item while meeting all other food safety requirements. The demand for convenient and high-quality food products are some of the major factors that are driving the demand for thermal equipment.
“Asia-Pacific to lead the market in terms of market share between 2017 and 2022”
The market for food processing equipment in the Asia-Pacific region was the largest. China is estimated to dominate the market for food processing equipment globally as well as regionally. The Asia-Pacific region has a large market for food & beverages; the improved standard of living due to the rise in the income levels is one of the major factors driving the food & beverage market growth in this region. The food industry has contributed significantly to the regional growth.
The breakdown of the primaries on the basis of company, designation, and region, conducted during the research study, is mentioned as follows:
- By Company Type: Tier 1 – 47%, Tier 2 – 25%, and Tier 3 – 28%
- By Designation: Director Level – 55%, C Level – 35%, and Others – 10%
- By Region: Asia-Pacific – 45%, Europe – 30%, North America – 15%, and RoW – 10%
Key players are as follows:
The global food processing equipment market is dominated by key players such as GEA Group (Germany), Alfa Laval (Sweden), Bucher Industries (Switzerland), SPX Corporation (U.S.), and Krones AG (Germany). Other players in the industry include Buhler AG (Switzerland), JBT Corporation (U.S.), Rexnord Corporation (U.S.), Marel (Iceland), and Fenco Food Machinery (Italy).
Food processing equipment market, on the basis of type, includes thermal equipment, cutting & peeling equipment, mixer, blender & homogenizer, extraction equipment, and others. On the basis of application, the market is segmented into dairy, alcoholic beverages, non-alcoholic beverages, meat & seafood, bakery & confectionery, and others. The major end-product forms considered include solid, liquid, and semi-solid. The mode of operation of food processing equipment studied are automatic and semi-automatic. On the basis of region, the market has been segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
Reasons To Buy this report
From an insight perspective, this research report has focused on various levels of analyses?industry analysis (industry trends), and company profiles, which together comprise and discuss the basic views on the competitive landscape?emerging and high-growth segments of the global food processing equipment market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following:
- Market Penetration: Comprehensive information on food processing equipment products offered by top players in the global market.
- Product Development/Innovation: Detailed insights on upcoming equipment products, technologies, research & development activities, and new product launches in the food processing equipment market.
- Market Development: Comprehensive information about lucrative emerging markets.
- Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the global food processing equipment market.
- Competitive Assessment: In-depth assessment of market share, strategies, products, and manufacturing capabilities of leading players in the global food processing equipment market.