Dublin, May 04, 2023 (GLOBE NEWSWIRE) -- The "Food & Beverage Processing Equipment Market by Type (Processing, Pre-Processing), Application (Bakery & Confectionery, Meat & Poultry, Dairy, Alcoholic & Non Alcoholic Beverages), Mode of Operation, End Product Form and Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global market for food and beverage processing equipment was valued at USD 64.6 Billion in 2023 and is projected to reach USD 84.9 Billion by 2028, at a CAGR of 5.6% during the forecast period.
The world's population is expected to grow by more than 9.7 billion by 2050 according to IMF, leading to increased demand for food and beverages. As the population grows, the demand for food and beverages will also increase, which will lead to an increased demand for processing equipment to produce, process and pack food products.
Food and beverage industries have been constantly investing on latest technologies, to meet the consumer demands. To provide latest technologies, food and beverage processing equipment companies are constantly innovating and introducing new technologies, leading to increased efficiency and cost-effectiveness in the production of processed foods.
Asia Pacific is projected to witness the growth of 6.2% CAGR during the forecast period.
The Asia Pacific region accounts USD 20.06 Billion of the market size in global market for food and beverage processing equipment in 2022. The food and beverage processing equipment market in the Asia Pacific region is projected to grow at the highest CAGR of 6.2% during forecasted period.
The Asia Pacific region has a diverse range of food and beverage industries, from traditional products such as rice and tea to more modern products such as packaged snacks, dairy and beverages. This has created a large market for food and beverage processing equipment companies, as manufacturers seek to cater to the unique needs of different food and beverage industries.
According to FAO (Food and Agriculture Organization of the United Nations), India ranks first in milk production in the world contributing 24% of global milk production. More stats from FAO also mentioned that China and India leading in grains, cereals and pulses production. Thus, creating business opportunities for food and beverage processing equipment companies in Asia Pacific region, to process these food commodities.
Bakery & confectionery is gaining rapid popularity in the food and beverage processing equipment market across the globe.
Bakery & confectionery industry includes one of the leading consumer food industries, globally. The bakery & confectionery products have now become essential food items of the vast majority of population. Urbanization has resulted in increased demand for ready to eat products at reasonable costs etc.
Bread and biscuits are the major part of the bakery industry, according to USDA the total export value of Baked goods was estimated at USD 4.11 Billion in 2022, with a compound average growth of 1.5% (2013-2022). The bakery & confectionery industry's growth and demand for its products have led to the dominance of its specialized equipment in the food and beverage processing equipment market.
The processing segment dominated the market for food & beverage processing equipment and was valued the largest at USD 40.8 billion in 2022.
The processing segment equipment's includes machines that performs operations such as Forming, Extruding , Coating, Drying, Cooling, Freezing, Thermal Process, Homogenization, Filtration and Pressing. Processing equipment plays a critical role in food production, as it performs the majority of operations involved in formulating and cooking ingredients to create the desired products.
Thermal processing and cooling operations are the most commonly used methods in the food industry for processing and safely storing food.
Due to their significance and influence on food processing, these types of equipment are in great demand. Due to their influence, the food and beverage processing equipment companies is constantly innovating and introducing new technologies, to increase the process efficiency and cost-effectiveness in the production of processed foods.
The semi-automatic segment of the global food & beverage processing equipment market is projected to grow at a higher CAGR of 6.0% from 2023 to 2028.
Semi-automatic machines offer a balance between manual labor and fully automated systems, providing greater efficiency while still allowing for some level of human control and customization. Furthermore, semi-automatic machines tend to be more cost-effective than fully automated systems, making them more accessible to small and medium-sized businesses that may not have the resources to invest in large-scale automation. Thus, creating demand for Semi-automatic processing machines.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 338 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $64.6 Billion |
| Forecasted Market Value (USD) by 2028 | $84.9 Billion |
| Compound Annual Growth Rate | 5.6% |
| Regions Covered | Global |
Market Dynamics
Drivers
- Growth in Demand for Convenience Foods
- Restaurants Generate Profits Through Automation in Food & Beverage Industry
Restraints
- Several Rules and Regulations Implemented by Governments Globally
Opportunities
- Government Initiatives Toward Meat & Processed Food Industry
- New Technological Trends in Food Processing
Challenges
- Infrastructural Challenges in Emerging Economies
Companies Mentioned
- Alfa Laval
- Anderson Dahlen
- Anko Food Machine Co. Ltd
- Baader
- Bettcher Industries, Inc
- Bigtem Makine A.S.
- Bucher Industries Ag
- Buhler
- Clextral
- Dover Corporation
- Equipamientos Carnicos, S.L.
- Fenco Food Machinery S.R.L.
- Finis Food Processing Equipment B.V.
- Gea Group Aktiengesellschaft
- Goma
- Heat and Control, Inc.
- Jbt
- Khs Group
- Krones Ag
- Marel
- Neologic Engineers Pvt. Ltd
- Spx Flow, Inc.
- Tetra Laval
- The Middleby Corporation
- Tna Australia Pty Limited
For more information about this report visit https://www.researchandmarkets.com/r/iwx8ju
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