The global food processing equipment market size is expected to reach USD 89.31 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.1% from 2021 to 2028. The changing lifestyle of people, increasing inclination toward nutritious food, and awareness about the health benefits of marine products are expected to surge the product demand over the coming years.
Population growth and rising disposable income, along with increasing urbanization, are expected to drive the consumption of processed foods, which, in turn, is expected to benefit the industry growth. Moreover, the governments of Middle Eastern countries are focusing on reducing their reliance on the petroleum sector and promoting investments in industries, such as construction, automotive, and food and beverage.
Farmed fish solutions for the marine industry had provided a convenient solution for the demand-supply imbalance. However, the industry witnessed a price hike for fresh and processed fish. The positive economic condition of the market and potential customers are some of the prominent factors that assure the prominent growth of the market over the forecast period.
Rising population, dietary shifts, and a rise in spending power influence the market growth, which exerts pressure on the industry to fulfill the ever-increasing demand of the world. In addition, the growing need for equipment in the wake of the rising consumption of processed foods in the developing economies in Asia Pacific is expected to drive the industry.
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Food Processing Equipment Market Report Highlights
By type, the processing equipment is expected to witness the fastest growth over the forecast period owing to the high demand for processed products and the increasing popularity of healthy and packaged food
Based on mode of operation, the automatic processing equipment segment is expected to expand at the fastest CAGR of 6.9% from 2021 to 2028 owing to the high demand for technological development, growing use of automation, and strong research and development capabilities of market players
The rise in demand for fast and packaged food is expected to compel manufacturers to expand their production capabilities, which is likely to trigger product demand over the forecast period
The market in Brazil is expected to expand at a CAGR of 5.1% from 2021 to 2028 owing to the untapped opportunities and customer base
Industry participants are adopting strategies, including distribution network expansion, new product developments, mergers & acquisitions, and partnerships, in order to gain a competitive edge in the industry
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Food Processing Equipment Market Segmentation
Grand View Research has segmented the global food processing equipment market on the basis of mode of operation, type, application, and region:
Food Processing Equipment Mode of Operation Outlook (Revenue, USD Billion, 2017 – 2028)
Food Processing Equipment Type Outlook (Revenue, USD Billion, 2017 – 2028)
Food Processing Equipment Application Outlook (Revenue, USD Billion, 2017 – 2028)
Bakery & Confectionaries
Meat, Poultry, & Seafood
Fruit, Nut, & Vegetable
Food Processing Equipment Regional Outlook (Revenue, USD Billion, 2017 – 2028)
Central & South America
Middle East & Africa
List of Key Players of Food Processing Equipment Market
GEA Group Aktiengesellschaft
Tetra Laval International S.A.
The Middleby Corporation
SPX Flow Inc.
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About Grand View Research
Grand View Research is a market research and consulting company that offers market research reports, syndicated and customized reports. The company is headquartered in San Francisco, California. It offers client engagement for business consulting and market intelligence from various domains. The clientele is based across various countries with queries coming from more than 50 industries worldwide.
Grand View Research helps its clients to make informed decisions by helping them understand current trends and scenarios. Every year Grand View Research accomplishes more than 300 multi-country market studies to optimize consulting for clients.
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