Food Processing Machinery Market Research 2024 - Industry Analysis, Size, Share, Future Trends, Growth Opportunities And Forecast 2033

The Business Research Company recently released a comprehensive report on the Global Food Processing Machinery Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The food processing machinery market size has grown strongly in recent years. It will grow from $57.96 billion in 2023 to $61.81 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to increasing global demand for processed foods, stringent food safety regulations, rising disposable income, focus on operational efficiency, growing awareness of health and nutrition.

The food processing machinery market size is expected to see strong growth in the next few years. It will grow to $78.06 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to smart manufacturing and industry 40 integration, sustainable and eco-friendly solutions, global population growth, customization and flexibility, rapid urbanization. Major trends in the forecast period include automation and robotics integration, focus on sustainability, advanced sensor technologies, data analytics and machine learning, customization and modular design.

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Market Drivers and Trends:

Increased demand for processed food is expected to propel the growth of the food processing machinery market. Processed foods refer to any type of food that are not in their natural state and have been subjected to some sort of food processing. This can include foods that have been cooked, canned, frozen, dried, or packaged. These food processing procedures can be carried out using food processing machinery. For instance, in October 2021, according to the US Food and Drug Administration, a US-based federal health agency, Americans received 70% of their daily sodium from processed and restaurant foods. Additionally, in July 2021, a survey of 1000 adults in the US was conducted by the International Food Information Council, a US-based nonprofit organization working for improving the quality of food, 32% of the respondents agreed that they buy processed food very often while 45% of the respondents bought processed foods sometimes. 19% of the respondents were buying food more often than they used to. Thus, the increased consumption of processed food is driving the food processing machinery market.

Product innovations are the key trends gaining popularity in the food processing machinery market. Major companies operating in the food processing machinery market are introducing innovative products to sustain their position in the market. For instance, in December 2022, GE Appliances, a US-based home appliance manufacturer, launched the GE Profile smart mixer with Auto Sense technology. The new product is a smart appliance that can be controlled using Google or Alexa voice commands. The uniqueness of the product is its auto-sense technology, which enables it to automatically sense changes in the mixture's viscosity and stop accordingly. With the use of torque sensors, Auto-Sense technology can detect changes in the viscosity of your mixture and streamline the procedure. The function integrates with the SmartHQ app, where you can choose from guided recipes that outline the procedure step-by-step.

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Major Key Players of the Market:

Tetra Laval International S.A.; SPX Corporation; Nichimo Co Ltd.; GEA Group AG; Hosokawa Micron Corp.; John Bean Technologies Corporation; Heat and Control Inc.; Tomora Systems ASA; AFE Group Ltd.; Bühler AG; Krones AG; Alfa Laval AB; Meyer Industries Inc.; Baader North America Corporation; Satake Corp.; The Middleby Corp.; Bucher Industries AG; Marel; Clextral; Fenco Food Machinery; Braunschweigische Maschinenbauanstalt AG; KHS GmbH; Bizerba SE & Co. KG; Atlas Pacific Engineering Company Inc.; Duravant Company; Asea Brown Boveri Ltd.; Baader; Mecatherm; FAM Stumabo; Rheon Automatic Machinery Co. Ltd.; Heatcraft Worldwide Refrigeration; Anko Food Machine Co. Ltd.; Baker Perkins

Food Processing Machinery Market 2024 Key Insights:

• The food processing machinery market will grow to $78.06 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%.
• Surge In Processed Food Consumption Fueling Growth In Food Processing Machinery Market
• Ge Appliances' Auto-Sense Technology Revolutionizes Food Processing Machinery
• Europe was the largest region in the food processing machinery market in 2023

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