The global food processing equipment market size is anticipated to reach at USD 85.59 billion by 2025, according to a new report published by Grand View Research, Inc. Driven by growing demand for processed and Ready-to-Eat (RTE) food products across the globe, the market is projected to expand at a CAGR of 6.2% over the forecast period. Strict government regulations regarding the hygiene and standardization of food products will further driver the demand for food processing equipment. Increasing demand for meat, poultry, and seafood is also predicted to support the market growth in the coming years.
Furthermore, growing trend of industrial automation coupled with easy availability of these units will spur the market development. The automatic mode of operation segment led the market in 2017 and is likely to expand further at a CAGR of 7.0% over the forecast period. This growth can be attributed to technological advancements in the processing market. Companies offer automated operational systems for the manufacturing of food processing equipment to have a competitive advantage in the market.
The processing equipment segment is expected to register a CAGR 6.5% in the forecast period reaching USD 45.67 billion by 2025. The pre-processing equipment type is also projected to account for a significant share of the global market.
Further Key findings from the study suggest:
- The processing equipment type segment is expected to witness the fastest growth over the forecast period
- India was valued at USD 3.2 billion in 2017 owing to the large-scale demand for food processing equipment in the region
- As of 2017, the country is among the prominent markets on account of large population base and rapid industrial development
- The U.S. food processing equipment market is expected to register a CAGR of 4.9% owing to favorable growth opportunities in the region
- U.K. is also anticipated to grow significantly over the coming years
- Some of the companies in the global market include BAADER Group, GEA Group AG, Buhler AG, Alfa Laval AB, and Tetra Laval International S.A.