The global food processing & handling equipment market for USD 137.2 billion in 2019 and is projected to grow at a CAGR of 6.2%, to reach USD 196.6 billion by 2025.
Northbrook, IL -- (SBWIRE) -- 06/28/2019 -- The report "Food Processing & Handling Equipment Market by Type (Food Processing Equipment, Food Packaging Equipment, and Food Service Equipment), Application, Form (Solid, Liquid, and Semi-Solid), and Region - Global Forecast to 2025", published by MarketsandMarkets. The global food processing & handling equipment market is estimated to be valued at USD 137.2 billion in 2019 and is projected to reach USD 196.6 billion by 2025, growing at a CAGR of 6.2%. Advancements in the food processing & packaging equipment industry, innovation in processing technology, and continuous growth in the demand for processed food are some factors that are 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 are also expected to support the growth of the food processing & handling equipment market.
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By equipment type, the food processing equipment segment is estimated to account for the largest share in the food processing & handling equipment market in 2019.
Of the various equipment types, the food processing equipment segment is estimated to dominate the market in 2019. Companies are focusing on product innovations and providing innovative machinery to cater to the increasing demand from customers. The demand for food processing & handling equipment is growing with the growth of the food industry owing to the increasing consumption of foods such as meat products, bakery & confectionery products, prepared foods, and convenience foods. New technologies, such as non-thermal processing, are also being developed to support the manufacturing process by reducing production time, ingredient & food waste, and overall cost.
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The meat & poultry segment is projected to witness strong growth due to the rising demand for convenience food products.
The growing demand for convenience food products is one of the major drivers that has affected a surge in demand for food processing & handling equipment for the meat & poultry industry. The preference for convenience food products, including meat and poultry, is increasing due to busy life schedules of people and the increasing working women population. The demand for convenience food products has surged, as they are easy to cook and consume less time, which, in turn, has boosted the demand for meat & poultry processing equipment market during the forecast period. The growing number of organized retailers is increasing the sale of ready-to-eat meals, including meat and poultry food products, which, in turn, is fueling the demand for food processing & handling equipment for the meat & poultry industry.
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Asia Pacific is estimated to dominate the food processing & handling equipment market in 2019.
Asia Pacific is estimated to account for the largest market share in the food processing & handling equipment market in 2019. Key factors such as industrialization, growing middle-class population, rising disposable income, changing lifestyles, and the rising consumption of processing and packaged products are expected to drive the demand for food processing & handling equipment market during the forecast period. The increasing disposable incomes, growing population, busy lifestyles, and shift in the focus toward convenience foods and instantly processed foods are some of the key trends influencing the growth of the food processing & handling equipment market in Asia Pacific. As a result, the next few years is likely to see continued growth in the sector's performance.
This report includes a study of marketing and development strategies, along with the product portfolios of the leading companies in the food processing & handling equipment market. The key players in the food processing & handling equipment market include GEA (Germany), Buhler Ag (Switzerland), Alfa Laval (Sweden), JBT Corporation (US), SPX FLOW (US), Robert Bosch (Germany), IMA Group (Italy), Middleby Corporation (US), and Dover Corporation (US), Robert Bosch (Germany), IMA Group (Italy), Tetra Laval (Switzerland), Multivac (Germany), Middleby Corporation (US), Welbilt, Inc. (US), and Electrolux (Sweden).
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