Market Research Report
Global Food Processing Equipment Market - 2021-2028
|Global Food Processing Equipment Market - 2021-2028|
Published: November 16, 2021
Content info: 180 Pages
Delivery time: 2 business days
Raw food materials are processed into consumable food products using a food processing machine. This equipment is used in the food and beverage sector for a variety of purposes. For improved conditioning of food products, bakeries, meat and poultry, dairy, and a variety of other industries use bespoke food processing machinery. Food processing equipment provide easy, appealing, safe, and hygienic consumable food products, increasing equipment sales. The key factors driving the growth of the food processing equipment market are increasing consumer demand for processed foods, a growing focus on food safety and worker safety, a growing need to increase productivity, a growing focus of food manufacturers to reduce production costs, and government support to promote the food processing sector. The global food processing equipment market valued USD XX million in 2020 and is forecasted to reach USD XX million by 2028, growing at a CAGR of XX% during the forecast period (2021-2028)
Increasing demand for hygienic and safe processed convenience food products
In the coming years, emerging health concerns and dietary plans of customers in both developing and developed regions are likely to drive market growth. Governments and food associations are pushing food processing machine manufacturers to engage in research and development, hence boosting the market revenue for food processing technology and equipment. For example, a food standards agency situated in the United Kingdom gives various training courses to food processing equipment manufacturers in order to preserve food cleanliness and so improve the dietary advantages of the food product. Food standards are intended to compel value chain players to adhere to strict government requirements in order to ensure the safety of ready-to-eat meals. With a total expenditure of USD 31 billion in 2017, Europe had the highest rate of convenience meal consumption. As a result, demand for safe and hygienic processed food products in emerging countries is likely to rise.
However, lack of skilled labors is expected to hinder the market to a certain extent. In the food processing sector, skilled and hygienic labor is a need. The scarcity of qualified people is becoming the most pressing issue in maintaining high-efficiency production lines. According to a secondary study, food processing machine manufacturers in the United States are hampered by a shortage of experienced technicians and operators.
Automatic food processing equipment held largest market revenue share in the year 2020
Due to rising demand in the food and beverage industry, the automatic food processing equipment segment is expected to increase tremendously in the near future. Over a decade, the food and beverage industry has reduced the enslavement of manual workers by using automated processing technology. Robotic machines are opening up new markets for automatic food processing devices all around the world. Because they are managed by workers with limited understanding and only partial integration of technology, semi-automatic food processing equipment is predicted to grow steadily.
Bakery and confectionery products will continue to dominate the food processing equipment market over the forecast period. Customer preferences and changes in their customary dietary patterns have led to an increase in baked product consumption in numerous European countries. To make a variety of bread in bulk, commercial bakeries use cost-effective bakery processing machines. The increasing need for clean and hygienic meat products from commercial restaurants, hotels, and foodservice sectors is expected to drive significant growth in meat and poultry food products.
Asia Pacific is expected to dominate the global food processing equipment market in the year 2020
Due to the increasing food processing industries in India and China, Asia Pacific owns the largest market share and is predicted to grow at an exponential rate over the projection period. According to the National Investment Promotion & Facilitation Agency of India (NIPFA), India's food processing industry is estimated to reach USD 543 billion by the end of 2020, presenting various prospects for expansion. Furthermore, the growing demand for frozen food in China and Australia is propelling the Asia Pacific market ahead. The number of food and beverage manufacturing factories in North American countries is rapidly increasing. According to the Census Bureau's County Business Patterns, California had approximately 5,640 food and beverage production plants in 2016, boosting regional market growth. In addition, the growing demand for healthy food in the United States is increasing the size of the food processing technology and equipment industry. These devices are used in food processing plants to process vast amounts of food in a short amount of time.
The market is fragmented. Marel, Buhler AG, Tetra Pak, and JBT Corporation are some of the prominent market players focusing on expanding their business portfolio, by setting up new manufacturing units worldwide. Buhler AG pioneered a new way to processing and machinery milling in August 2019. Buhler AG has set new standards in the cost-effective milling industry with Mill E3. As a result, the key industry players are expanding their manufacturing units while keeping maintenance costs low. Hobart announced the Centerline HMM20, a new cost-effective and conventional heavy-duty mixer, in June 2019 for a variety of kitchen applications such as blending and mixing heavy dough. In July 2018, BAADER invested in Norvelita's (fish and surimi processing machine manufacturer) new salmon processing machine line, to expand its product portfolio
COVID-19 Impact: Negative impact on the food processing equipment market
The COVID-19's quick spread has created severe market ambiguity in the equipment manufacturing sector around the world. Despite the closure of key industries, governments are taking precautionary measures, such as separating citizens and workers, to slow the spread of COVID-19 and reduce the risk of infection. The food production processing equipment has decreased as a result of a rapid global lockdown. As a result, machine production and food processing methodologies came to a halt. However, the disruption of international trade caused by the sudden spread of the COVID-19 pandemic has had a significant impact on the food processing technology and equipment business, particularly in Germany, the United Kingdom, France, China, and India. These countries have a large market share and a number of important market players, which stifles the production of food processing equipment. Furthermore, according to the United Nations Conference on Trade and Development (UNCTAD), worldwide FDI is predicted to shrink by 5% to 15% due to a drop in manufacturing companies' activities as a result of factory closures. As a result of the COVID-19 outbreak, global investments in the food processing equipment manufacturing sector are expected to decline. The demand for food processing equipment has decreased as a result of this scenario, particularly in 2020.
The global food processing equipment market report would provide an access to approximately 45 market data tables, 45 figures and 180 pages