Global Food Processing Equipment Market To Be Worth Around USD 87.3 Billion By 2026: Acumen Research and Consulting
The global food processing equipment market size is expected to around USD 87.3 Billion by 2026, the market is projected to grow with 6.4% CAGR during the forecast timeframe.
Increasing need for processed and (RTE) Ready-to-Eat food modes of operations across the world is expected to bolster the global food processing equipment market growth.
Increasing health awareness and dietary changes in emerged, as well as emerging regions are also projected to bolster food processing equipment market growth forthcoming years. In addition, numerous government officialdoms are boosting the food processing equipment producers to improve their research and development capabilities, which is also expected to boost the food processing equipment market growth.
The automatic equipment have observed higher need in recent years as compared to semi-automatic machinery. Ongoing trend such as green revolution andIndustry 4.0 in the producer sector favours automation in the food processing market. This is also backing thefood processing equipment market development. Safety and Food standards are the ace target for the value chain players and they are required to follow strict government regulations and standards for it.
Stringent government regulations about the standardizationand hygiene of food products will additional driver the need for food processing equipment. Growingneed forpoultry, meatand seafood is furtherforeseen to support the food processing equipmentmarket growth in the coming years.
Also, increasing trendsrelated to industrial automation paired with easy availability of these units will drive the market growth. The automatic mode of operation segment led thefood processing equipment market in 2018 and is expected to grow further at a CAGR of 8.0% over the forecast period. This evolution can be due to technological progressions in the food processing market. Businessesdelivers automated operational systems for the procedure of food processing equipment to have a competitive advantage in the food processing equipmentmarket.
The processing equipment sub-segment is anticipated to grow with a CAGR 7.2% in the forecast period reaching USD 46.2 billion by 2026. The pre-processing equipment type is furtheranticipated to hold for a substantial share of the global food processing equipmentmarket.
The global food processing equipment market is segmented into four major segment named modes of operation, type, application, and region. On the basis of modes of operation the food processing equipment market is segmented intosemi-automatic and automatic. On the basis of the type the global food processing equipment market is segmented into processing and pre-processing. On the basis of application, the food processing equipment market is segmented into Bakery & Confectionery, Meat, Poultry, & Seafood, Beverage, Dairy, Fruit, Nut, & Vegetable, Grains and Other. On the basis of region the global Food Processing Equipment market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Europe region, one of the major regions, is anticipated to spectator significant growth in future owing to need for high-quality systems. Although, Asia Pacific is expected to be the foremost regional food processing equipment industry during the forecasted period. Economic performance of China with large-scale funds in research favours andtechnology the region’s growth. China is expected to undertake massive changes in its beverage and food sector, with a view to overcome the challenges comprise economic disparity and rising urbanization. In terms of revenue, Asia pacific holds 37.0% of the global food processing equipment share in 2018 and is expected to observe a CAGR of 9.4% in the forecasted period.
The major participant catering to the global food processing equipment market are Ziemann International GmbH, Anko Food Machine Company Limited, Wenger Manufacturing Incorporated, Atlas Pacific Engineering Company Incorporated, Machine Corporation, Berkshire Hathaway Incorporated, Sinmag Bakery,Bettcher Industries Incorporated, Odenberg Engineering, Satake Corporation, Bibun Engineering, BMA Group, Nordischer Maschinenbau Rud Baader,Bongard, Nichimo Company Limited, Briggs of Burton plc, Meyer Industries Incorporated, Bucher Industries AG, Mecatherm SA, GEA Group AG, Marelhf, Hosokawa Micron Corporation, and JBT FoodTech.A few multinational businessesholds the market and are majorly focussed in Europe andNorth America regions. Producers’emphasis majorly on the growth, in terms of technology and industrial processes and operations to reinforce their position. Therefore, most of the mainbusinessescapitalise more in research and developmentservices to introduce innovative strategies along with improved capacities.
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