Chicago, June 21, 2023 (GLOBE NEWSWIRE) -- The food processing and handling equipment market was valued at USD 130.6 billion in 2021. The market is estimated to expand to USD 175.1 billion by 2026, exhibiting a CAGR of 6.0% over the projected period. The food processing & handling equipment market is exhibiting strong growth, with the rising demand for prepared food products globally, changes in consumer lifestyles, along with a transformative leap forward in technological capabilities and increasing investment opportunities in the food processing industry. MarketsandMarkets™ provides this information in its research report, titled “Food Processing and Handling Equipment Market Global Forecast, 2021-2026”.
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Key Industry Development:
One key industry development in the food processing and handling equipment market is the increased adoption of automation and robotics technology. Automation has become a significant trend in the food processing industry, driven by the need for efficiency, productivity, and improved safety.
Report Scope & Segmentation:
| Report Metrics | Details |
| Forecast Period | 2021-2026 |
| Forecast Period 2021-2026 CAGR | 6.0% |
| 2026 Value Projection | USD 175.1 billion |
| Segments covered | Type, Application, End-Product Form, Region |
| Regions covered | North America, Europe, Asia Pacific |
| Report Coverage & Deliverables | Revenue forecast, company ranking, driving factors, Competitive benchmarking, and analysis |
Key Takeaways:
- Food processing and handling equipment market size is expected to grow to $175.1 billion by 2026.
- Automation and robotics technology offer several advantages in food processing and handling, such as increased production speed, enhanced accuracy, and reduced labor costs. Automated systems can perform repetitive tasks with precision and consistency, leading to higher output and improved product quality. These systems also minimize human intervention, reducing the risk of contamination and ensuring food safety.
- The food processing segment is estimated to dominate the global food processing and handling equipment market.
- The food preservatives market is highly competitive, with numerous players operating in the industry. Key players include GEA Group, ALFA LAVAL, Bühler Holding AG, JBT Corporation, SPX Flow etc.
- The Asia Pacific region to account for the largest market share during the forecast period.
Drivers and Opportunities:
Rising demand for meat, poultry, bakery, dairy, and confectionery products
Meat, dairy, bakery, and confectionery products are some of the major applications of food & food processing and handling equipment. The growing consumption of protein-based food products, frozen meat, frozen bakery products, and fruits & vegetables; and the growing preference for healthy food products in developed countries drive the demand for higher food production. This growth in demand for various food products will, in turn, drive the demand for food processing and handling equipment. There have been various product launches in snack and bakery product categories, with health claims such as gluten-free and non-GMO in the European market.
Similarly, snacks and bakery products require cutting, coating, slicing, and thermal equipment for manufacturing end products, adding taste and texture, and extending the shelf life. The growth of the bakery & confectionery industry in Europe and other developed countries is also expected to drive the demand for food processing and handling equipment.
Rise in demand from developing countries, such as China and India
Emerging economies, such as BRIC (Brazil, Russia, India, and China), offer several growth opportunities for food packaging equipment manufacturers. Growth in these regions is mainly driven by the consumers’ inclination toward ready-to-eat and convenience food products. Some of the key factors driving the demand for packaged or processed food products are as follows: changing lifestyles of the consumers, rapidly rising disposable income, rising brand awareness, an increasing number of working women, and increased concerns about the quality of the food products. These emerging economies across the globe will act as new revenue pockets for the food packaging industry. According to Agriculture and Agri-Food Canada (AAFC). It grew at a CAGR of 11.5% between 2017 and 2018 to reach USD 347 billion by 2018. This is expected to provide growth opportunities for the packaged food industry, which, in turn, will lead to the growth of the food packaging technology & equipment market.
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Segments:
Food processing segment is estimated to dominate the global food processing and handling equipment market
Advancements in the food processing industry, innovation in processing technology, and continuous growth in the demand for processed food are some factors expected to support the growth of the food & beverage processing equipment market. With the growing preference for healthy food and functional foods, manufacturers are expected to adopt new equipment to fulfill the demand for healthy functional foods & beverages. The expansion of food manufacturing capacities and growth of the food processing industry in emerging economies will also support the growth of the food processing & handling equipment market.
The solid segment is estimated to account for the largest share in the food processing and handling equipment market
The solid segment dominated the global food processing & handling equipment market due to the rising consumption of solid food products, such as bread, processed meat, and processed vegetables, in regular diets. Changing consumer preferences and the adoption of upgraded technologies to enhance the shelf life of products are also driving the growth of the solid segment. Customizations and innovations in the bakery and dessert industries, along with the rising demand for processed fruit and vegetable products, provide huge opportunities for the manufacturers to grow in the food processing & handling equipment market.
Regional Insights:
North America: The food processing and handling equipment market in North America is driven by factors such as a well-established food processing industry, increasing consumer demand for convenience foods, and a focus on food safety regulations. The region has a high adoption rate of advanced technologies, including automation and robotics, to improve efficiency and productivity in food processing operations. The United States and Canada are key players in this market, with a strong presence of equipment manufacturers and innovative technologies.
Europe: Europe is another significant region in the food processing and handling equipment market. The region emphasizes stringent food safety regulations and quality standards, driving the adoption of advanced processing and handling equipment. Sustainable and energy-efficient solutions are also gaining traction in the European market. Countries such as Germany, France, and the United Kingdom are major contributors to the market, with a focus on technological advancements and research and development.
Asia Pacific: The Asia Pacific region is experiencing rapid growth in the food processing and handling equipment market due to factors like population growth, urbanization, and changing consumer preferences. Increasing disposable incomes and a rising middle class are driving the demand for processed and packaged foods. Countries such as China, India, Japan, and Australia are witnessing significant investments in food processing infrastructure and equipment. The market in Asia Pacific is characterized by a mix of domestic and international equipment manufacturers catering to the diverse needs of the region.
Latin America: Latin America is an emerging market for food processing and handling equipment. The region's growing population, changing dietary patterns, and increasing demand for convenience foods are fueling market growth. Brazil, Mexico, and Argentina are the key markets in Latin America, with a focus on improving food processing efficiency and enhancing food safety standards. The market in this region is characterized by both domestic and international players, who are investing in expanding their production capacities and improving technological capabilities.
Middle East and Africa: The food processing and handling equipment market in the Middle East and Africa region is driven by factors such as population growth, urbanization, and rising disposable incomes. The region has a strong focus on food security and self-sufficiency, leading to investments in food processing infrastructure and equipment. Countries like Saudi Arabia, United Arab Emirates, and South Africa are witnessing significant developments in the food processing sector, with a focus on advanced technologies and automation.
List of Key Players Mentioned in the Report:
- GEA Group (Germany)
- ALFA LAVAL (Sweden)
- Bühler Holding AG (Switzerland)
- JBT Corporation (US)
- SPX Flow (US)
- Robert Bosch (Germany)
- IMA Group (Italy)
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Frequently Asked Questions (FAQs):
What is the projected market value of the global food processing and handling equipment market?
The global food processing and handling equipment market as per revenue was estimated to be worth $130.6 billion in 2021 and is poised to reach $175.1 billion by 2026, growing at a CAGR of 6.0% from 2021 to 2026.
What is the estimated growth rate (CAGR) of the global food processing and handling equipment market for the next five years?
The global food processing and handling equipment market is expected to grow at a compound annual growth rate (CAGR) of 6.0% from 2021 to 2026
What are the major revenue pockets in the food processing and handling equipment market currently?
The food industry in Asia Pacific is gigantic. In the region, product innovations and technological advances have put increasing pressures on the quality standards at all levels, with a growing emphasis on food safety, integrity, quality, and nutritional and health impacts.
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