Market Research Report
Food Processing & Handling Equipment - Global Market Outlook (2018-2027)
|Food Processing & Handling Equipment - Global Market Outlook (2018-2027)|
Published: September 1, 2019
Stratistics Market Research Consulting
Content info: 160 Pages
Delivery time: 2-3 business days
According to Stratistics MRC, the Global Food Processing & Handling Equipment Market is accounted for $127.39 billion in 2018 and is expected to reach $248.36 billion by 2027 growing at a CAGR of 7.7% during the forecast period. Rising demand for meat, poultry, bakery, dairy, confectionery products, hygienic food packaging and shift toward convenient food packaging are some of the factors fuelling the market growth. However, increasing the cost of production due to the rise in energy and labour costs and stringent environmental regulations are restricting market growth.
The Food Processing & Handling (FP&H) provides the equipment and solutions to produce, process, and distribute food to billions of households around the globe, and it services a multi-faceted value chain from farming to logistics. The sector has become increasingly important as the world's population has grown and dietary preferences have demanded everywhere. The reflecting higher disposable incomes and a shift to value-added products, this, in turn, has boosted demand for equipment and handling to process, store, package, and cook food.
Based on application, the bakery & confectionery products segment is estimated to have a lucrative growth due to the condition that market is highly impacted by innovations, as manufacturers are always introducing new processing techniques to produce complex bakery products of different shapes and sizes. By Geography, Asia Pacific is likely to have a huge demand due to the presence of key factors such as industrialization, growing middle-class population, rising disposable income, changing lifestyles, and the rising consumption of processing and packaged products.
Some of the key players profiled in the Food Processing & Handling Equipment market include Alfa Laval, Ali Group S.R.L, Buhler AG, Dover Corporation, Electrolux, GEA Group, Hoshizaki, IMA Group, JBT Corporation, Krones Group, Middleby Corporation, Multivac, Robert Bosch, SPX FLOW and Tetra Laval International S.A.