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Industrial Food Processor Global Market Report 2024: Automation, Market Segments, and Industry Demand Forecast
Industrial Food Processor Global Market
According to The Business Research Company's, The industrial food processor market size has grown strongly in recent years. It will grow from $62.96 billion in 2023 to $66.95 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to demand for processed foods, globalization of food supply, consumer demand for convenience, increased food production, growing demand for frozen food products.
The industrial food processor market size is expected to see strong growth in the next few years. It will grow to $82.9 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to growing demand for organic food, increasing demand for bakery products, growing demand for meat processing, rising demand for healthy and functional foods, demand for food packaging solutions, demand for food exports. Major trends in the forecast period include smart kitchen integration, plant-based food processing, sustainable packaging solutions, digital transformation, clean label processing, .
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Market Drivers and Trends:
The increasing demand for processed food products is expected to propel the growth of the industrial food processor market going forward. Processed food refers to any raw agricultural products that have undergone any process that modifies their original form, including heating, pasteurization, blanching, cooking, canning, freezing and drying. Convenience foods are a subset of processed foods specifically designed for easy and quick preparation, catering to the modern lifestyle's demand for efficiency. An industrial food processor is utilized to slice rapidly and conveniently, dice, shred, blend and puree practically any food to create a variety of processed foods, including convenience foods. For instance, in July 2023, according to Food and Drinks Malaysia by SIAL Group, a Malaysia-based food and beverage exhibition, the convenience food sector in Malaysia increased by 3.0% in volume in 2023 and is expected to reach 7,829.2 kg by 2027. Further, in Malaysia, the revenue from convenience food amounts to $31.84 billion in 2022, which is expected to increase by 5.49% during 2022-2027. Therefore, the increasing demand for processed food products is driving the growth of the industrial food processor market.
Major companies operating in the industrial food processor market are increasing their focus on introducing products with double interlock mechanism to maximize their profits in the market. The double interlock mechanism in food processors is a safety feature that ensures the processor will not operate unless the bowl and lid are securely locked in place. For instance, in April 2023, Hobart Corporation, a US-based commercial grocery and food service equipment provider, added the FP300i floor model to its lineup of continuous-feed food processors. This heavy-duty food processor has a base, a stacking feed cylinder and a manual pusher plate for greater adaptability. It can process up to 88 pounds of goods per minute. The FP300i food processor has a double interlock mechanism to ensure operator safety by preventing it from operating when the pusher plate is open or swings away. Additionally, it includes a no-volt release that stops it from turning on if the power goes out.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Tetra Pak International S.A., GEA Group AG, Alfa Laval AB, Krones AG, Middleby Corporation, Bucher Industries AG, Bühler Holding AG, JBT Corporation, Marel hf, SPX Flow Inc., Tomra Systems ASA, Duravant LLC, Hosokawa Micron International Inc., Heat and Control Inc., Baader Gmbh & Company KG, Schenck Process Holding GmbH, RHEON Automatic Machinery Co. Ltd., Urschel Laboratories Inc., Key Technology Inc., Pacific Food Machinery Ltd., Ishida Co. Ltd., Wenger Manufacturing Inc., Satake Corporation, ProXES GmbH, Risco S.p.A., Anko Food Machine Co. Ltd., Cretel, Food Machinery Australasia Ltd.
Industrial Food Processor Market 2024 Key Insights:
• The Industrial Food Processor Global Report 2024 is expected to grow to $82.9 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%.
• Rising Demand For Processed Foods Fuels Growth In The Industrial Food Processor Market
• Innovative Double Interlock Mechanism Enhances Safety In Industrial Food Processor Offerings
• Asia-Pacific was the largest region in the industrial food processor market in 2023. The regions covered in industrial food processor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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