With 4.2% CAGR, Global Food Processing and Handling Equipment Market Size Worth USD 140.17 Billion by 2029
According to Fortune Business Insights, the global Food Processing and Handling Equipment Market Size is projected to reach USD 140.17 Billion in 2029, at CAGR of 4.2% during forecast period 2022-2029, Rising Disposable Incomes to Foster Market Growth in Asia Pacific
/EIN News/ -- Pune, India, Aug. 02, 2022 (GLOBE NEWSWIRE) -- The global food processing and handling equipment market size was valued at USD 101.23 billion in 2021 and reached USD 105.13 billion in 2022. The company is expected to touch USD 140.17 billion by 2029, exhibiting a CAGR of 4.2% during the forecast period. Furthermore, robust investments in food processing and rising demand for hygienic convenience products are expected to enhance the market growth. Fortune Business Insights™ provides this information in its report titled “Food Processing and Handling Equipment Market, 2022-2029.”
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COVID-19 Impact:
Increasing Food Safety Concerns Impeded Market Growth
This market was negatively affected during the COVID-19 pandemic due to increased food safety concerns among people. The sudden spike in COVID-19 infections impeded the demand for the equipment. Companies needed to invest more in the sanitization of machinery, thereby increasing resource consumption. Further, governments imposed regulations to promote hygienic practices in the industry. As per HACCP’s recent studies, the COVID-19 virus remains active on surfaces for nearly 72 hours, resulting in contamination. This factor led to rising spending on sanitization. These factors negatively affected the industry’s progress.
Segments
Food Processing Equipment Segment to Grow Attributable to Strong Demand from Food & Beverage Sector
By equipment type, the market is segmented into processing equipment, packaging equipment, and service equipment.
The processing equipment segment is expected to exhibit strong growth due to strong demand from the food & beverage industry. Furthermore, the increasing demand for ready-to-eat foods is expected to enhance the demand for the product.
Bakery and Confectionery Products Segment Dominate Market Share Owing to Extensive Adoption of Dairy Products
Based on application, the market is classified into bakery and confectionery products, meat and poultry products, dairy products, beverages, and others (grains, fruits, nuts and vegetables, and others.)
The bakery and confectionery products segment is expected to hold a dominant market share due to extensive adoption of dairy products. Furthermore, increasing investments from foreign and domestic companies in the food and beverage sector are expected to foster market progress.
Browse Summary of this Research Report
Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
Drivers and Restraints
Integration of Robotics and High-End Automation Technologies to Propel Market Growth
Food processing and handling equipment are responsible for food processing and equipment handling. The integration of robotics and high-end automation technologies is expected to enhance the demand for the equipment. Furthermore, the increasing adoption of automation in industries may improve Artificial Intelligence (AI) and the Internet of Things (IoT) adoption, thereby enhancing food processing and equipment handling adoption. Moreover, rapid urbanization and the increasing adoption of fast-paced lifestyles are likely to enhance the demand for hygienic convenience food products. These factors may drive the food processing and handling equipment market growth.
However, the lack of awareness regarding food safety regulations is expected to hamper industry growth.
Food Processing and Handling Equipment Market: Report Scope & Segmentation:
| Report Attribute | Details |
| Market size value in 2022 | USD 105.13 Billion |
| Revenue forecast in 2029 | USD 140.17 Billion |
| Growth Rate | CAGR of almost 4.2% 2012-2029 |
| Base Year | 2021 |
| Historic Years | 2018 - 2020 |
| Forecast Years | 2012 - 2029 |
| Segments Covered | By Equipment Type, By Application, By Region |
| Forecast Units | Value (USD Billion), and Volume (Units) |
| Quantitative Units | Revenue in USD million/billion and CAGR from 2022 to 2029 |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America and Rest of World |
| Countries Covered | Unites States, Canada, Mexico, Unites Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Number of Companies Covered | Buhler Ag (Switzerland), JBT (Illinois), M.A. INDUSTRIA MACCHINE AUTOMATICHE S.p.A. (Italy), Tetra Pak International S.A. (Tetra Laval) (Switzerland), The Middleby Corporation (Illinois), Welbilt (Florida), Krones AG (Germany), GEA Group Aktiengesellschaft (Germany), ALFA LAVAL (), Dover Corporation (Illinois) |
| Food Processing and Handling Equipment Market Coverage | Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
| Customization Scope | Avail customized purchase options to meet your exact research needs. |
Regional Insights
Rising Disposable Incomes to Foster Market Growth in Asia Pacific
Asia Pacific is expected to dominate the food processing and handling equipment market share due to rising disposable incomes. The market in Asia Pacific stood at USD 29.74 billion in 2021 and is expected to gain a huge portion of the global market share. Further, shifting consumer preferences and strong demand for processed foods are expected to enhance market progress.
In Europe, substantial investments in expanding production facilities are expected to bolster food processing and handling equipment adoption. For example, Kellogg’s invested nearly USD 121.5 million in November 2019 to expand its Pringles facility in Poland. These factors may incite the industry’s growth in the region.
Competitive Landscape
Major Players Announce Innovative Products to Bolster Brand Image
The prominent companies operating in the market announce innovative products to bolster their brand image. For example, in September 2021, GEA Group AG launched Batch2Flow. This product is developed to boost the security of the food production process and reduce power consumption. This launch may enable the company to offer effective food processing solutions to consumers and enhance its brand image globally. Furthermore, major players in the market devise expansions, research and development, partnerships, mergers, acquisitions, and automated production techniques to achieve organizational goals and bolster their market position globally.
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Key Industry Development
- January 2022: Ska Fabricating acquired GR-X Manufacturing to expand its product portfolio and enhance its market position.
List of Key Players Profiled in the Report
- Buhler Ag (Switzerland)
- JBT (Illinois)
- I.M.A. INDUSTRIA MACCHINE AUTOMATICHE S.p.A. (Italy)
- Tetra Pak International S.A. (Tetra Laval) (Switzerland)
- The Middleby Corporation (Illinois)
- Welbilt (Florida)
- Krones AG (Germany)
- GEA Group Aktiengesellschaft (Germany)
- ALFA LAVAL ()
- Dover Corporation (Illinois)
Table of Content:
-
Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Executive Summary
-
Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
-
Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- PESTEL Analysis
- Porter’s Five Forces Analysis
- Supply Chain Analysis
- Global Food Processing and Handling Equipment Key Players Market Share Insights and Analysis, 2021
-
Global Food Processing and Handling Equipment Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
- Key Findings
- By Equipment Type (USD)
- Processing Equipment
- Packaging Equipment
- Service Equipment
- By Application (USD)
- Bakery & Confectionery Products
- Meat & Poultry Products
- Dairy Products
- Beverages
- Others (Grain, Fruit, and Nut & Vegetable)
- By Region (USD)
- North America
- Latin America
- Europe
- Middle East & Africa
- Asia Pacific
-
North America Food Processing and Handling Equipment Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
- Key Findings
- By Equipment Type (USD)
- Processing Equipment
- Packaging Equipment
- Service Equipment
- By Application (USD)
- Bakery & Confectionery Products
- Meat & Poultry Products
- Dairy Products
- Beverages
- Others (Grain, Fruit, and Nut & Vegetable)
- By Country (USD)
- United States
- By Equipment Type (USD)
- Processing Equipment
- Packaging Equipment
- Service Equipment
- By Equipment Type (USD)
- Canada
- By Equipment Type (USD)
- Processing Equipment
- Packaging Equipment
- Service Equipment
- By Equipment Type (USD)
- United States
-
Latin America Food Processing and Handling Equipment Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
- Key Findings
- By Equipment Type (USD)
- Processing Equipment
- Packaging Equipment
- Service Equipment
- By Application (USD)
- Bakery & Confectionery Products
- Meat & Poultry Products
- Dairy Products
- Beverages
- Others (Grain, Fruit, and Nut & Vegetable)
- By Country (USD)
- Brazil
- By Equipment Type (USD)
- Processing Equipment
- Packaging Equipment
- Service Equipment
- By Equipment Type (USD)
- Mexico
- By Equipment Type (USD)
- Processing Equipment
- Packaging Equipment
- Service Equipment
- By Equipment Type (USD)
- Rest of Latin America
- Brazil
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