Harrisburg, NC -- (SBWIRE) -- 10/16/2020 -- The Global Food Product Machinery Market Research Report 2020-2030 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.
The global food product machinery market is expected to decline from $36.8 billion in 2019 to $35.1 billion in 2020 at a compound annual growth rate (CAGR) of -4.7%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 7% from 2021 and reach $42.5 billion in 2023.
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Top Companies in the Global Food Product Machinery Market: Tetra Laval International S A; Buhler AG; GEA Group; Krones AG; John Bean Technologies and Other
1) By Type: Dairy Product Plant Machinery And Equipment; Bakery Machinery And Equipment; Meat And Poultry Processing And Preparation Machinery; Other Commercial Food Products Machinery
2) By Product: Depositors; Extruding Machines; Mixers; Refrigirators; Slicers & Dicers; Others
3) By Capacity: Small; Medium; Large
4) By Operation: Autonomous; Semi-autonomous; Manual
Western Europe was the largest region in the global food product machinery market, accounting for 43% of the market in 2019. Asia Pacific was the second largest region accounting for 23% of the global food product machinery market. Africa was the smallest region in the global food product machinery market.
Machinery and equipment manufacturers are offering high-performance continuous baking ovens to improve production efficiency and consistency in quality. Unlike batch ovens, continuous baking ovens allow cooking or baking process on a continuous line thus providing consistency in the operation. These ovens can be used for high-temperature cooking, impingement, convection, super-heated vapor, and linear or spiral cooking. Continuous baking ovens provide faster bake times and throughput, precise control, improved consistency in quality, and minimal product waste and reduces labor costs and energy usage.
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What are the market factors that are explained in the report?
-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
-Analytical Tools: The Global Food Product Machinery Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter's five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.
Note: All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
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