Global Food Processing Equipment Market Growth, Trends, COVID-19 impact and Forecast (2020-2025)
The global food processing equipment market is segmented on Type (Food Processing Equipment, Food Packaging Equipment, and Food Service Equipment), Application (Food & Beverages, Dairy Products, Meat and Seafood, and Others), and Region (APAC, North America, Europe, and ROW).
Introduction
Food processing equipment is an umbrella term referring to the components, processing machines, and systems used to handle, prepare, cook, store, and package food and food products.
Employed for food and food product applications ranging from bakery goods to beverages and dairy to produce, a wide range of food processing equipment is available to execute the various unit operations necessary during a complete production cycle, such as washing, separating, mixing, baking, freezing, and sealing.
Depending on the demands of the operation (and the overarching food processing application), this equipment can be designed and constructed to handle solid, semi-solid, or liquid food products by batch or continuously.
The outbreak of COVID-19 is projected to slow down investments in the food processing equipment manufacturing sector worldwide. This scenario has lowered the demand for food processing equipment, especially in 2020.
Table of Contents
Executive Summary
Scope of the report
Research Methodology
Executive Summary
Introduction
5.1 Parent Market/ TAM
5.2 Market Outline
5.3 Market Segmentation
6. Five Force analysis
7. Market Sizing
8. Market segmentation
9. Geographical Landscape
9.1 APAC
9.2 Europe
9.3 North America
9.4 ROW
10. Growth drivers
10.1 Population expansion, coupled with the rising per capita disposable income.
10.2 Increasing focus of food manufacturers to reduce the production cost.
11. Key Market Trends
12. Impact of Covid-19
13. Challenges
14. Customer Insights analysis
15. Major Market Players
15.1 Bühler AG
15.2 Tetra Laval International S.A
15.3 Krones AG
15.4 BAADER Group
15.5 The Middleby Corporation
15.6 JBT Corporation
15.7 GEA Group
15.8 SPX Flow Inc.
16. Recent Developments
17. Future Scope
18. Strategic Recommendations
Market Overview
The Global food processing equipment market is expected to grow to $74.97 billion by 2025.
Growth momentum is expected to accelerate during the forecast period with 6.2% CAGR.
The food and beverage market in developing regions, such as Asia Pacific, is expected to dominate over the coming years owing to a rise in population, increasing foreign direct investments, rising disposable income, and changing preferences.
Key Trends
The food processing equipment driven by increasing consumers preferences toward hygienic, healthy, and safe foods that has given rise to aesthetic packaging solutions that are durable and strong enough to withstand rigors of processing and transportation.
The increasing popularity of functional beverages has escalated the demand for equipment that is utilized in the production of non-alcoholic drinks and dairy-based beverage products.
Key Market Players
Mergers & acquisitions, new product launches, and licensing agreements are a few of the strategies adopted by the market players to strengthen their positions.
The most prominent players in the market are GEA Group, BAADER Group, Bühler AG, Tetra Laval International S.A, Krones AG, The Middleby Corporation, JBT Corporation, SPX Flow Inc., Marel, and others.
Growth Drivers and Challenges
Population expansion, coupled with the rising per capita disposable income, is expected to result in an increased demand for meat and poultry and greater consumption of processed products, thus boosting the market growth over the forecast period.
Increasing focus of food manufacturers to reduce the production cost and government support to promote the food processing sector are also the key factors driving the growth of the food processing equipment market.