What is the global market size of Food Processing And Handling Equipment Market?

Food Processing And Handling Equipment Market size was valued at USD 130.6 billion in 2021 and is poised to grow from USD 138.44 billion in 2022 to USD 233.88 billion by 2030, growing at a CAGR of 6% in the forecast period (2023-2030).

Global Food Processing And Handling Equipment Market Size, Share, Growth Analysis, By By type(Food Processing Equipment, Food Service Equipment), By Equipment(Size Reduction Equipment, Size Enlargement Equipment), By Operation(Automatic, Semi-automatic), By Application(Bakery & Confectionery, Meat & Poultry), By End-product(Solid, Liquid) - Industry Forecast 2024-2031

Report ID: SQMIG20H2032 | Region: Global | Published Date: February, 2024
Pages: 265 | Tables: 161 | Figures: 78

Global Food Processing And Handling Equipment Market Regional Insights

Based on region global food processing and handling equipment market is segmented into North America, Asia Pacific, Europe, Latin America and Middle East Africa. Asia Pacific had the highest revenue share of 37.21 percent in 2020 and is expected to grow the fastest during the forecast period. Because the Chinese market has a large number of players, product innovation and strategic alliances are critical success factors for Chinese players. New product innovations, developments, and the introduction of advanced technologies provide advantageous opportunities for food manufacturers, propelling market growth in recent years. The United States is one of the most urbanized countries, with approximately 80% of its population residing in cities. This has influenced food preferences, which has aided the expansion of the food processing industry. However, as a mature market, product demand is expected to grow slowly over the forecast period.

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.Europe is anticipated to witness significant cumulative market growth over the forecast period due to increasing investments in expanding production facilities across the region.

Global Food Processing And Handling Equipment Market Report Snapshots

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Food Processing And Handling Equipment Market size was valued at USD 130.6 billion in 2019 and is poised to grow from USD 138.44 billion in 2023 to USD 233.88 billion by 2031, growing at a CAGR of 6% in the forecast period (2024-2031).

The global food processing and handling equipment market is fragmented, with a prominent market player acquiring a sizable portion. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective. 'Tetra Pak International S.A.', 'Bühler ', 'Marel ', 'GEA Group ', 'JBT Corporation', 'Alfa Laval AB', 'Illinois Tool Works Inc.', 'Middleby Corporation', 'Heat and Control, Inc.', 'Krones AG', 'Multivac Sepp Haggenmüller SE & Co. KG', 'Sidel Group', 'SPX FLOW Inc.', 'Nichimo Co., Ltd.', 'Dover Corporation', 'Bucher Industries AG', 'Meyer Industries, Inc.', 'TOMRA Systems ASA', 'Key Technology, Inc.', 'KHS GmbH'

Some of the most common applications for food and food processing and handling equipment include meat, dairy, bakery, and confectionery products. In developed countries, rising consumption of protein-based food products, frozen meat, frozen bakery products, and fruits and vegetables, as well as a growing preference for healthy food products, drive demand for increased food production. Demand for food processing and handling equipment will rise as demand for various food products rises. In the European market, there have been a number of product launches in the snack and bakery product categories, with health claims such as gluten-free and non-GMO.

Rising food processing industry investments to drive market growth rising R&D investments in food processing technologies are expected to drive the growth of the food processing and handling equipment market. Investments in the integration of loT and Al, as well as their combination in food processing and handling equipment, represent lucrative market opportunities. The high product demand is driving increased investment by both domestic and foreign companies in the Asia Pacific food processing industry. The food processing industry in India is expected to attract USD 33 billion in investments by the end of 2024, according to the National Investment Promotion and Facilitation Agency of India. India has approximately 40,000 food processing facilities as of in 2020.

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Global Food Processing And Handling Equipment Market Regional Insights

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