Growth in Food & Beverage Industry Anticipated to Drive Global Food Processing Equipment Marketby Rati Ram Business Developer
According to study, “Global Food Processing Equipment Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024” the key companies operating in the global food processing equipment market areGEA Group, Meyer Industries, Buhler AG, Heat and Control, Marel, Satake Corporation, Ali SpA, Bucher Industries, JBT, Haarslev Industries, Haas, Rheon Automatic Machinery, Baader Group, Sinmag Bakery Machine, BMA, RiscoSpA, Mecatherm, Baker Perkins, Nichimo, Atlas Pacific Engineering, Tomra Systems, Mallet & Company, Key Technology, PavanSrl, Hosokawa Micron, MIWE, HebeiXiaoJin, Briggs, SENON, Wenger, Lehui. The key manufacturers of processed food are majorly concentrating on the quality of the products. The global market is showing rapid changes owing to two main forces: improvement in the technologies and change in the food demand.
Food processing equipment refers to processing machines, systems and components used to cook, package, handle, prepare or store food and food products. They are designed and constructed to handle semi-solid, solid, and liquid products, in a batch-wise or continuously, depending on the demands of the operation. The equipment helps to transform the raw food ingredients in to food items through various physical and chemical means. They are available in various categories such as dryers, chillers, feeders, mixers, grinders, fryers, roasters, homogenizers, slicers, separators, and ovens. The equipment are used in various industries including poultry farm, dairy industry, seafood industry, confectionery, beverage industry, milk, industrial bakery, chocolate manufacturing unit, fruit, nut, and vegetable industry. Stainless steel is one of the key elements, which is extensively used in the food processing equipment. 316SS and304SS are two most common types of alloys of stainless steel, which are used in food processing equipment.
Based on type, food processing equipment market is segmented into processing type and pre-processing type. Based on mode of operation, market is segmented into automatic and semi-automatic. In addition, based on application, market is segmented into dairy, beverage, meat, poultry, & seafood, bakery & confectionary, grains, fruit, nut & vegetables and others. Meat, poultry, and seafood segment holds major share in market owing to rise in consumer preference for protein-rich food products.
The food processing equipment market is driven by growth in food & beverage industry, followed by rise in use of international food processing technology, increase in demand for meat, poultry, and seafood, rise in packaged foods demand, surge in need to increase productivity, growth in focus on food safety & safety of workers, increase in the focus of food manufacturers to reduce the production cost, and rise in government support to promote food processing sector. However, high cost of equipment and lack of trained labor may impact the market. Moreover, rise in innovation in technology and growth in need to offer broad selection of food products at lower cost are key opportunity for market.
Based on geography, the Asian-Pacific region holds major share in food processing equipment market owing to change in lifestyles and rise in demand of processed food products in emerging countries in region. The North-American and European regions are expected to exhibit substantial growth rate due to rise in awareness level regarding new food products and growth in investment on research & development (R&D) over food processing equipment over the forecast period. The worldwide market is likely to grow at a CAGR of approximately 7.2% over the next five years, will reach US $77300 million in 2024, from US $51000 million in 2019.
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Ankur Gupta, Head Marketing & Communications
Created on Jan 24th 2020 02:59. Viewed 199 times.