The global food processing and handling equipment market is projected to surge from USD 130.6 billion in 2021 to USD 175.1 billion in 2026, with a CAGR of 6.0% during the forecast period. The food processing and handling equipment market is undergoing remarkable expansion, fueled by several factors. These include a rising appetite for processed and packaged foods, a heightened emphasis on efficient and hygienic processing techniques, and the integration of cutting-edge technology and automation within the food and beverage sector. This analysis explores the primary drivers propelling this growth, alongside the prevailing trends, obstacles, and avenues for expansion within the market.
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Significant growth characterizes the food processing and handling equipment market as the food industry broadens its horizons, fueled by escalating demands for processed foods such as meat products, baked goods, and convenience foods. The advent of innovative technologies, such as non-thermal processing methods, is revolutionizing production processes, slashing waste, time, and expenditures. Advancements in processing technology, coupled with the clamor for healthier and more functional food options, as well as the burgeoning food manufacturing capabilities in emerging markets, all contribute to the market's upward trajectory. These advancements are reshaping the landscape of the food and beverage industry, offering manufacturers opportunities to meet the escalating demand for nutritious and innovative products through state-of-the-art equipment.
The dynamic beverage industry is experiencing global expansion, triggering a noticeable uptick in demand for a wide array of beverages, spanning alcoholic, non-alcoholic, and dairy-based categories. The proliferation of processing facilities, particularly in developing regions, the burgeoning craft brewery sector, and ongoing innovations in food processing and handling technologies are key drivers propelling the food processing and handling equipment industry forward. Nonetheless, concerns loom over the industry's growth trajectory, notably stemming from escalating power and energy costs.
Food Processing and Handling Equipment Market Drivers: Rising demand for meat, poultry, bakery, dairy, and confectionery products
Meat, dairy, bakery, and confectionery products are some of the major applications of food processing and handling equipment. The growing consumption of protein-based food products, frozen meat, frozen bakery products, and fruits & vegetables; and the growing preference for healthy food products in developed countries drive the demand for higher food production. This growth in demand for various food products will, in turn, drive the demand for food processing and handling equipment. There have been various product launches in snack and bakery product categories, with health claims such as gluten-free and non-GMO in the European market.
Similarly, snacks and bakery products require cutting, coating, slicing, and thermal equipment for manufacturing end products, adding taste and texture, and extending the shelf life. The growth of the bakery & confectionery industry in Europe and other developed countries is also expected to drive the demand for food processing and handling equipment.
Bakery, meat, poultry, and seafood are the major applications of food processing and handling equipment. In the last decade, the changing and busy lifestyles of consumers due to rapid urbanization have led to high demand for processed and convenience meat products. Moreover, processed meat products require less time and effort to cook and have enhanced nutrition and durability. Meat processing involves a wide range of physical and chemical treatment methods, generally combining a variety of methods. Various processing methods that include cutting, blending, stuffing & filling, grinding, drying, slicing, smoking, grinding, and massaging are performed with the help of different equipment.
Similarly, in the dairy industry, the demand for various equipment for a range of applications is driving the food processing & handling equipment market growth. According to the dairy index from Tetra Pak Global consumption of products, such as milk, cheese, and butter, is expected to rise by 36% in the next decade, reaching more than 710 million tons of liquid milk equivalent by 2024. The booming demand for dairy products is majorly witnessed in emerging economies, such as India, China, and Latin American countries. This demand is fueled by population growth, rapid urbanization, increased disposable income, and the emergence & modernization of cold chain facilities such as refrigerated transport & storage.
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The Asia Pacific region to account for the largest market share during the forecast period.
The Asia Pacific region accounted for major share in the food processing and handling equipment market during the forecast period. The food packaging industry in the Asia Pacific region is inclined toward automation, digitalization, and sustainable innovations inspired by the exponential growth of online retail and consumer interest in environmental issues. Asia Pacific’s millennial population outnumbers the Baby Boomers, who are earning more than ever, with strong wage growth, and are demanding a more responsive e-commerce business model to transform this industry. Smart packaging embedded with new technology is increasingly implemented for tackling supply chain issues.
Top Companies in the Food Processing and Handling Equipment Market
The key players in this market include GEA Group (Germany), ALFA LAVAL (Sweden), BĂĽhler Holding AG (Switzerland), JBT Corporation (US), SPX Flow (US), Robert Bosch (Germany), IMA Group (Italy), Multivac (Germany), Krones Group (Germany), Tetra Laval International S.A. (Switzerland), Middleby Corporation (US), Dover Corporation (US), Ali Group S.r.l (Italy), Electrolux (Sweden), and Hoshizaki (Japan). Manufacturers are adopting strategies such as new product launches, expansion & investments, mergers & acquisitions, agreements, and partnerships to strengthen their position in the market.
