SAN FRANCISCO, April 21, 2021 /PRNewswire/ -- 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.
Key suggestions from the report:
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
Read 105 page research report with ToC on "Food Processing Equipment Market Size, Share & Trends Analysis Report By Mode Of Operation (Semi-automatic, Automatic), By Type (Processing, Pre-processing), By Application, And Segment Forecasts, 2021 - 2028" at: https://www.grandviewresearch.com/industry-analysis/food-processing-equipment-market
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.
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)
Food Processing Equipment Regional Outlook (Revenue, USD Billion, 2017 - 2028)
List of Key Players of Food Processing Equipment Market
GEA Group Aktiengesellschaft
Tetra Laval International S.A.
The Middleby Corporation
SPX Flow Inc.
Find more research reports on Food Safety & Processing Industry, by Grand View Research:
Functional Foods Market – Functional ingredients such as omega-3 and probiotics are highly used in fish oils and yogurt to reduce the risk of cardiovascular diseases and to improve the quality of intestinal microflora. Such a trend is expected to fuel the market over the forecast years.
U.S. Packaged Food Market – The hectic work and life schedules of consumers across the country and the rising preference for convenience have been driving the market over the years. Furthermore, the escalating expansion of e-commerce in the U.S. boosts the sales of the products over the nation.
Food Processing Blades Market – Macroeconomic factors such as rising disposable income, increasing spending power of the middle-class population, and the adoption of processed food products, including meat and poultry, are augmenting the market growth.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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