South East Asia Food Processing Equipment Market

South East Asia Food Processing Equipment Market Size, Share, Growth Analysis, By Type(Meat, poultry), By Region(South East Asia (Indonesia, Malaysia) - Industry Forecast 2024-2031

Report ID: SQMIR20I2264 | Region: Regional | Published Date: March, 2024
Pages: 202 | Tables: 67 | Figures: 70

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South East Asia Food Processing Equipment Market was valued at USD 2.66 billion in 2021, and is expected to rise from USD 2.82 billion in 2022 to reach a value of USD 4.61 billion by 2030, at a CAGR of 6.30% during the forecast period (2023–2030).

The South East Asia food processing equipment market is highly competitive in nature owing to the increase in demand. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Alfa Laval AB', 'Baader Group,', 'Buhler AG', 'Gold Peg International Pty Ltd', 'Euroasia Food Equipment Sdn Bhd', 'Marlen International, Inc.', 'Paul Mueller Company', 'The Middleby Corporation', 'Yanagiya Machinery Co., Ltd.', 'Auto Kinetics (M) Sdn Bhd', 'Bucher Industries AG', 'GEA Group AG', 'Heat and Control Inc.', 'Key Technology Inc.', 'Nichimo International Inc.'

Urban growth in Southeast Asian countries is all because of the rise in consumption of processed foods. As per World Bank, the urban population in Indonesia is expected to increase at 57.29% in 2021. The most economically advanced countries (Brunei, Malaysia, and Singapore) have high levels of urbanisation. This economic development phenomenon makes a significant contribution to higher standards of living as well as income growth, which stimulates processed food consumption and production, and hence increasing demand for food processing equipment from food processors during the analysis period.

Increased advancement of technologies is resulting in lower energy consumption and waste generation, and in turn offering lucrative business opportunities for the Southeast Asia market to expand the business of food processing equipment.

Indonesia is anticipated to capture a significant share in the market during the aforementioned prediction period and is also expected to register the highest CAGR in the Southeast Asia food processing equipment market. Due to the rising Indonesian population, steadily increasing urbanisation, better understanding of health and lifestyle products, income growth, and a growing Indonesian tourism industry, a large share of Indonesia is supported by a massive and expanding processed food industry. The growing number of food processing units is driving this market even further. Furthermore, sales in Indonesia are increasing as a result of the development of a larger modern food retail industry and evolving consumer tastes and preferences, which are expected to expand the market for higher-value foods such as chilled and frozen meat.

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