Prepared Food Equipment Market by Type (Pre-processing, Processing, Packaging), Application (Snack & Savory Products, Meat & seafood Products), Mode of Operation (Automatic, Semi-automatic, Manual), and Region - Global Forecast to 2026
Northbrook, IL 60062 -- (SBWIRE) -- 10/04/2022 -- The global prepared food equipment market size is estimated to account for a value of USD 10.4 billion in 2020 and is projected to reach USD 15.1 billion, with a CAGR of 6.4% for the forecast period 2020-2026. The market is driven by factors such as growing disposable income; increase in supermarkets & retail outlets, investment of food manufacturers on products with a focus on production efficiency, processing time, and quality; and growth of food exports. An increase in investments in R&D activities, demand for advanced machinery, and the growing automation industry are the upcoming opportunities for the prepared food equipment industry.
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Prepared Food Equipment Market Dynamics:
Driver: Rise in income to drive the demand for prepared & convenience foods
The rise in disposable income due to growth in the economy, especially in emerging countries such as India and China, has led to an increase in demand for prepared & convenience foods. With the rising demand for convenience and ready-to-eat (RTE) food, customers are also concerned about the nutritional and health benefits of such food items before consumption. This is achieved by automating or integrating the overall processes, which help maintain food quality and nutritional value.
Restraints: Increase in demand for minimally processed, healthier organic food products
The rise in the aging population in developed countries has led to an increase in health concerns. There is a high preference for fresh and minimally processed food products without synthetic chemical preservatives. This adversely affects the demand for prepared food equipment as prepared foods are processed with preservatives and other flavoring agents to increase the shelf life and enhance palatability.
Opportunities: Demand for advanced machinery with high productivity and efficiency
Food manufacturers continue to look for advanced machinery and delivery solutions to meet safety standards and increase productivity to meet consumer demand changes. Key players such as GEA Group (Germany), Alfa Laval (Sweden), and Marel (Iceland) in food manufacturing are mostly focused on increasing the level of automation in food processing operations to increase the predictability of preventative maintenance, lead time of processing, and connectivity.
Challenges: Infrastructural challenges in developing countries
The saturated markets of developed economies such as the US, the UK, Germany, and France compel manufacturers of prepared food equipment to search for untapped markets and expand their consumer base. This requires substantial investments in many aspects of business expansion, especially with regard to the establishment of new facilities in developing countries. Setting up large equipment requires larger lands and high manpower, which makes it difficult for manufacturers to set up plants in developing countries due to the lower availability of labor and land.
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This report includes a study on the marketing and development strategies and a study on the product portfolios of the leading companies operating in the Prepared food equipment market. It consists of the profiles of leading companies like GEA Group (Germany), Alfa Laval (Sweden), JBT Corporation (US), SPX FLOW (US), Bühler (Switzerland), Tetra Laval (Switzerland), Dover Corporation (US), Robert Bosch (Germany), Krones (Germany), Middleby Corporation (US), Marel (Iceland), IMA Group (Italy), Multivac (Germany), Ali Group (Italy), Lyco Manufacturing, Inc (US), Heat and Control, Inc. (US), BigTem Makine (Turkey), Hup Sheng Machinery & Industry (Malaysia), Sumpot (China), and Hosokawa Alpine (Bayern).
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