Global Food Processing Equipment Market Poised to Surpass $98.57 Billion by 2030, Reveals Exclusive Report from Meticulous Research®

[Redding, California, March 12, 2024] - Meticulous Research®, a leading market intelligence company, has released an exclusive report titled 'Food Processing Equipment Market,' projecting a substantial surge in market value, reaching a staggering $98.57 billion by 2030. The report highlights a robust Compound Annual Growth Rate (CAGR) of 5.8% during the forecast period spanning from 2023 to 2030.

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The global landscape of processed foods has witnessed an unprecedented escalation in demand, underpinned by various interrelated factors. Urbanization trends, accelerated lifestyles, the proliferation of nuclear families, a surge in working women, and time constraints in food preparation collectively contribute to this burgeoning demand. Processed foods, integral to the global food chain, play a pivotal role in ensuring both food and nutrition security. Moreover, shifting dietary preferences towards more diversified diets underscore consumers' inclination towards value-added food categories, significantly influencing food processors.

This surge in demand necessitates technological advancements to bolster the sector's growth and diversify existing production capabilities among processed food manufacturers. Particularly, there is a burgeoning demand for processing basic products like fruits, vegetables, and grains, driving the need for technologically advanced equipment. Hence, the industry is witnessing a paradigm shift towards new methods, technologies, and machinery aimed at minimizing the impact on sensory qualities such as color and texture. To maintain a competitive edge, food processors are actively embracing innovative processing and preservation technologies, thus propelling the adoption of food processing equipment worldwide.

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In recent years, the global food processing equipment market has witnessed a flurry of activity including mergers & acquisitions, expansions, partnerships, agreements, collaborations, and product launches. Key players driving innovation in this market include Bühler AG, Marel hf, GEA Group Aktiengesellschaft, Bucher Industries AG, John Bean Technologies Corporation, The Middleby Corporation, Heat and Control Inc., SPX Flow, Inc., Alfa Laval AB, Krones AG, Paul Mueller Company, Tetra Pak International S.A., Bigtem Makine A.S., TNA Australia Pty Limited, and Hosokawa Micron B.V.

The global food processing equipment market is segmented by type, mode of operation, and geography.

Based on type, the global food processing equipment market is segmented into meat, poultry, and seafood processing equipment; bakery processing equipment; beverage processing equipment; dairy processing equipment; chocolate and confectionery processing equipment; fruit and vegetable processing equipment; snacks processing equipment; and other food processing equipment. In 2023, the meat, poultry, and seafood processing equipment segment is expected to account for the largest share of the global food processing equipment market. However, the beverage processing equipment segment is projected to register the highest CAGR in the global food processing equipment market during the forecast period of 2023-2030. The rapid growth of this segment is mainly attributed to the increasing demand for alcoholic beverages, increasing consumption of ready-to-drink beverages, increasing per capita spending of the population in developing countries, and rising use of advanced technologies to enhance productivity & product efficacy.

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Based on mode of operation, the global food processing equipment market is segmented into semi-automatic and automatic. In 2023, the semi-automatic segment is expected to account for the largest share of the global food processing equipment market. The segment's large share is attributed to the benefits of semi-automatic food processing equipment, such as greatly improved labor productivity, flexibility in production processes, and technical & economic feasibility. However, the automatic segment is projected to register the highest CAGR in the global food processing equipment market during the forecast period of 2023-2030.

Based on region, the global food processing equipment market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, Asia-Pacific is expected to account for the largest share of the global food processing equipment market. Asia-Pacific's major market share is attributed to the increasing demand for processed food products in emerging and developing countries of the region, including India, China, Indonesia, and Thailand; rising investments from major food and beverage players; and government support to promote the food processing sector. Moreover, this region is projected to register the highest CAGR during the forecast period, mainly due to tremendous growth in its food & beverage industry, primarily due to increasing urbanization, growing health awareness, and rising disposable income levels.

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This release was published on openPR.