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

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).

Global Food Processing Equipment Market Size, Share, Growth Analysis, By Mode of Operation(Automatic, Semi-automatic), By Type(Processing Equipment, Pre-processing Equipment), By Application(Bakery & Confectionaries; Meat, Poultry) - Industry Forecast 2024-2031

Report ID: SQMIG20E2054 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 90 | Figures: 76

Global Food Processing Equipment Market Regional Insights

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.

Global Food Processing Equipment Market Report Snapshots

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Food Processing Equipment Market size was valued at USD 48.84 billion in 2019 and is poised to grow from USD 50.8 billion in 2023 to USD 69.3 billion by 2031, growing at a CAGR of 4% in the forecast period (2024-2031).

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. 'GEA Group AG', 'Alfa Laval AB', 'Bühler AG', 'Tetra Pak International S.A.', 'JBT Corporation', 'Marel hf.', 'SPX Corporation', 'Bucher Industries AG', 'Krones AG', 'Middleby Corporation', 'John Bean Technologies Corporation', 'Paul Mueller Company', 'Hosokawa Micron Corporation', 'Key Technology, Inc.', 'Heat and Control, Inc.', 'Spx FLOW Inc.', 'Baader Group', 'Anko Food Machine Co., Ltd.', 'Nichimo Co., Ltd.', 'Tomra Systems ASA'

Rising demand for safe and hygienic processed convenience food products is likely to drive food processing equipment market growth

Use of cutting-edge technology in processing equipment is a major trend in global food processing equipment market. Aside from raising food safety awareness, increased demand for processed food products has resulted in the adoption of advanced technology-based processing equipment, which is expected to boost the global food processing market in the near future. BAADER, for example, renamed its food processing machines as modern digital solutions that provide an automated food value chain. Concepts like the Internet of Things (IoT), Artificial Intelligence, and Industry 4.0 help businesses achieve the highest degree of food safety, increase traceability, and thereby reduce hazards associated with food processing procedures.

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Global Food Processing Equipment Market Size, Share, Growth Analysis, By Mode of Operation(Automatic, Semi-automatic), By Type(Processing Equipment, Pre-processing Equipment), By Application(Bakery & Confectionaries; Meat, Poultry) - Industry Forecast 2024-2031

Global Food Processing Equipment Market Regional Insights

Global Food Processing Equipment Market Report Snapshots

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