USD 48.84 billion
Report ID: SQMIG20E2054 | Region: Global | Published Date: February, 2024 | Pages: 165 | Tables: 90 | Figures: 76
Food Processing Equipment Market size was valued at USD 48.84 billion in 2021 and is poised to grow from USD 50.8 billion in 2022 to USD 69.3 billion by 2030, growing at a CAGR of 4% in the forecast period (2023-2030).
A food processing machine is a machine that converts raw food resources into consumable food items. This machinery is utilized in a variety of applications in the food and beverage industries. Bakery, meat and poultry, dairy, and a variety of other industries use custom food processing machinery to improve food product conditioning. Food processing machines provide easy, appealing, safe, and hygienic consumable food products, enhancing machine sales. Population growth, combined with rising per capita disposable income, is expected to increase demand for meat and poultry, as well as consumption of processed foods, boosting market growth over the forecast period. Because of their inherent advantages, such as quality control, durability, hygiene, and preservation, these systems are widely used in a variety of industries, including bakery and confectionery, meat, seafood, and poultry, dairy, and grains.
US Food Processing Equipment Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 48.84 billion
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The global Food Processing Equipment market is segmented based on mode of operation, type, application, and region. Based on mode of operation, the Food Processing Equipment market is segmented into Automatic, Semi-automatic. Based on type, the Food Processing Equipment market is segmented into Processing Equipment, Pre-processing Equipment. Based on type, the Food Processing Equipment market is segmented into Processing Equipment, Pre-processing Equipment. Based on application, the Food Processing Equipment market is segmented into Bakery & Confectionaries; Meat, Poultry, & Seafood; Beverage; Dairy; Fruit, Nut, & Vegetable; Grains; Others. Based on region, the Food Processing Equipment market is categorized into North America, Europe, Asia-Pacific, and MEA.
Food Processing Equipment Market Analysis by product
In 2021, the processing equipment segment dominated the global food processing equipment market, accounting for more than 50% of total revenue. Food pre-processing equipment is expected to generate significant market revenue due to rising demand for ready-to-eat foods. The machinery is used in the food business, specifically for the preparation of fruits and vegetables, meat, and poultry. The growing demand for perishable food products with health advantages is prompting the adoption of new market trends.
The sheer high demand for processed items and the growing popularity of healthy and packaged foods, this segment is predicted to grow the fastest throughout the forecast period. Pre-processing equipment is used in a variety of sectors for mixing, killing, and filleting. Demand for these systems is projected to arise from the Middle East, Central and South America, as a result of rising urbanization, industrialization, and changing consumer eating habits.
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In 2021, Asia Pacific had the largest market share and is predicted to increase at an exponential rate throughout the forecast period due to India's and China's emerging food processing industries. According to the National Investment Promotion and Facilitation Agency of India (NIPFA), India's food processing industry is predicted to reach over USD 530 billion by 2027, providing several growth opportunities. Furthermore, rising demand for frozen food in China and Australia is propelling Asia Pacific market growth.
Rising demand for ready-to-eat and convenience food in the United Kingdom, Germany, and France will drive up demand in Europe throughout the anticipated period. The region's growing number of food processing facilities is also likely to generate chances for key players in this industry. Food manufacturers are making enormous expenditures to expand their production capacity in order to meet the fastest growing consumer needs. For example, in November 2019, Kellogg's announced a USD 121.5 million investment to expand its Pringles production in Poland. The plant is scheduled to begin operations in 2021.
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Food Processing Equipment Market Driver
Customers' evolving health concerns and dietary plans in both developing and developed regions are expected to drive market growth in the coming years. Governments and numerous food associations are pushing food processing machine manufacturers to spend in R&D, which will increase the revenue of the food processing technology and equipment market. For example, in the U.K. A food standards agency based in the United Kingdom provides several training sessions to food processing equipment manufacturers in order to maintain food hygiene and thus improve the dietary benefits of the food product. Food standards are intended to compel value chain partners to adhere to severe government requirements in order to ensure the safety of ready-to-eat meals.
Food Processing Equipment Market Restraint
The worldwide food processing equipment industry has major market challenges due to a lack of competent workforce. Lockdowns caused by the COVID-19 epidemic have shut down operations across economies, resulting in considerable market constraint. The incorporation of IoT Technology in the Food Processing area, such as BAADER revamping its Food Processing Equipment into modern digital solutions to create an automated food chain, is projected to drive the market positively in the coming years.
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The global food processing equipment market is highly competitive due the presence of both established multinational players and local/regional players. Mergers and acquisitions, new product launches, and licensing agreements are just a few of the strategies used by market participants to strengthen their market positions. The trading of equipment is influenced by a variety of government regulatory frameworks, tariffs, and regulations. As a result, various companies tend to opt for innovative and competitive market strategies in order to withstand competition and maintain market position.
Food Processing Equipment Market Top Player’s Company Profiles
Food Processing Equipment Market Recent Development
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our business information services team that collects, collates, co-relates, and analyses the data collected by means of primary exploratory research backed by the robust secondary desk research.
According to our analysis, worldwide use of processed foods has expanded substantially in recent decades. The expanding global population is a major contributor to this growth. According to the United Nations Department of Economic and Social Affairs, the world population reached 7.3 billion in 2015 and is expected to reach 9.7 billion by 2050. As a result, consumers in urban areas have a much broader selection and better food availability than those in rural areas. This urbanization trend adds significantly to higher living standards and rising incomes, which in turn has a stronger impact on the affordability of processed food products. As a result, food processors are constantly seeking and experimenting with novel processing and preservation procedures using technologically advanced equipment, fueling the global adoption of food processing equipment.
|Market size value in 2021
|USD 48.84 billion
|Market size value in 2030
|USD 69.3 billion
|Forecast Unit (Value)
|North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Food Processing Equipment Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Food Processing Equipment Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Food Processing Equipment Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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