APAC largest market for food processing equipment

The global food processing equipment market is expected to reach $91.8 billion by 2025, at a CAGR of 6.9% during the forecast period of 2019 to 2025. This is the forecast in a new report offered by ResearchAndMarkets.com.

In the report, "Food Processing Equipment Market Size by Type (Meat, Poultry, and Seafood Processing Equipment, Bakery Processing Equipment, Beverage Processing Equipment, Dairy Processing Equipment, Chocolate Processing Equipment) - Global Forecast to 2025", researchers attribute market growth to the following factors: increasing consumer demand for processed food, the focus on food safety and safety of workers, the need to increase productivity, pressure to cut production cost among food manufacturers, and government support to promote food processing sector. In addition, emerging economies such as Latin America, Southeast Asia, and Africa provide a significant opportunity for manufacturers in the global food processing equipment market.

Setbacks were noted. The high cost of equipment and increasing consumers' inclination towards the consumption of minimally processed food products hinders the growth of this market. While the lack of trained labour force in many parts of the globe poses a challenge to the food processing equipment manufacturers.

The largest share of the overall food processing equipment market in 2019 came from meat, poultry, and seafood processing equipment. Stronger demand for processed meat is associated with growing global population, urbanization, and disposable income; and consumer preference for protein-rich food products and convenience food products.

Chocolate and confectionery processing equipment is the fastest growing market segment (Photo © Bogdan Hoda I Dreamstime.com)

The chocolate and confectionery processing equipment market will grow at the fastest CAGR during the forecast period, due to rising need to manufacture high-value confectionery products under cost-pressure; growing need of maximizing energy efficiency; and growing confectionery industry due to economic factors, sociological trends, increasing health consciousness, and fast-evolving indulgence seeking attitude of the consumers.

Geographically, Asia-Pacific is estimated to account for the largest share of the overall food processing equipment market in 2019. Demand for processed food products is growing in emerging and developing countries such as India, China, Indonesia, and Thailand. Other contributing factors are increasing investments from the major global food processors; and burgeoning food and beverages industry, primarily due to the increasing urbanization, huge base of population, growing health awareness, and rising disposable income.

Some of the key players operating in the global food processing equipment market are Buhler AG (Switzerland), Marel HF (Iceland), GEA Group Aktiengesellschaft (Germany), Bucher Industries AG (Switzerland), Suite John Bean Technologies Corporation (U.S.), The Middleby Corporation (U.S.), Heat and Control Inc. (U.S.), SPX Flow Inc. (U.S.), Alfa Laval AB (Sweden), Nichimo International Inc. (Japan), Krones AG (Germany), Paul Mueller Company (U.S.), Key Technology Inc. (U.S.), and Tetra Pak International S.A. (Switzerland) among others.