16 Jan, 2019, 06:00 ET
ALBANY, New York, January 16, 2019 /PRNewswire/ --
The global food processing equipment market is likely to witness high growth as key players are working on product enhancements and employing advanced technologies. Players are focusing on research and development activities to come up with innovative design along with enhanced capacities. Minimizing cost of maintenance, safety, and energy efficiency are some of the key factors for manufacturers operating in this market. These initiatives will help these players to expand their business in different geographies and strengthen their position in the market both in terms of technology and in terms of industrial processes. Currently, Krones AG, Bucher Industries AG, NICHIMO CO., John Bean Technologies Corporation, AB Electrolux, Bühler AG, Tetra Laval, SPX Corporation, ALFA LAVAL GEA Group AG, Dover Corporation, Marel, LTD, and Marlen International, Inc. are some of the prominent players functional in the market.
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With these initiatives taken by the key players and future prospects of high growth in this market, Transparency Market Research has come up with its analysis. As per the report, the global food processing equipment market is projected to exhibit a growth rate of 6.7% over the forecast tenure from 2017 to 2022. By the end of 2022, the market is anticipated to touch US$ 70.51 bn.
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Application of food processing equipment is high in the semi-automatic segment. It is projected that during the forecast tenure the valuation in this segment will cross more than US$42 billion in terms of revenue. In the meantime, demand for automatic food processing equipment is also expected to rise at a healthy rate. Geographically, Asia Pacific excluding Japan is projected to lead the market. India, Indonesia, and China are the major countries where the demand for processed food has increased significantly, which further augmented demand for food processing equipment in Asia Pacific.
Changing Lifestyle to Fuel Market Demand
Globally, there is a huge change in the individuals' lifestyle, which has led the growth in different sectors and industries. The inclusion of technology at such a high rate has also changed ways organization worked. All these factors have benefitted the growth in the global food processing equipment market. People nowadays, prefer processed food that can be easily carried and consumed. Rapid globalization, the growing income of people in emerging economies, and the rising population have increased for food; all have triggered the growth in this market.
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Furthermore, governments in different regions are also encouraging the use of food processing equipment to enhance their research and development capabilities. Increasing health consciousness and a dietary shift in both developed and developing region has boosted the demand in this market.
Lack of Standardization to Deter Demand in Food Processing Equipment Market
Despite the growing demand for food processing equipment form different regions, there are still few challenges faced that might hinder the growth of this market. Limited knowledge about appropriate hygiene design and lack of standardization are the key challenges faced in the global food processing equipment market. In addition, food processing equipment is also expensive which might refrain end-users to use this equipment. However, changing lifestyle, growing demand for processed and ready to eat food, and the growing use of advanced technology can minimize the effect of these restraints.
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The information presented in this review is based on a TMR report, titled "Food Processing Equipment Market (Equipment Type - Thermal Equipment, Depositors, Extruding Machines, Mixers, Refrigeration, Slicers and Dicers, Others; Food Type - Processed and Unprocessed; Application - Dairy Sector, Fruits and Vegetables, Meat and Poultry Processing, Fisheries, Bakery and Confectionery, Other Application; Operation- Semi-Automatic, Automatic) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2022."
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Global Food Processing Equipment Market has been segmented as presented below:
Global Food Processing Equipment Market, by Equipment Type
- Thermal Equipment
- Extruding Machines
- Slicers and Dicers
Global Food Processing Equipment Market, by Food Type
Global Food Processing Equipment Market, by Application
- Dairy Sector
- Fruits and vegetables
- Meat and Poultry Processing
- Bakery and Confectionery
- Other Application
Global Food Processing Equipment Market, by Operation
Global Food Processing Equipment Market, By Geography:
- North America
- Rest of Europe
- Asia Pacific excluding Japan
- Rest of Asia Pacific
- Latin America
- Rest of South America
- Middle East & Africa (MEA)
- South Africa
- Rest of MEA
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