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11
Nov-2019
Facts to focus in the Food Processing Machinery Market
Food Processing Machinery Market was worth USD 57.57 billion in 2019 and estimated to be growing at a CAGR of 7.3%, to reach USD 81.88 billion by 2024.
Food Processing Machinery Market Introduction:
Food processing equipment helps turn raw food ingredients into foods by various physical and chemical means. Food processing equipment is available in several categories, including dryers, chillers, fryers, feeders, mixers, mills, toasters, homogenizers, separators, slicers and ovens. The food processing equipment is used in a variety of industries, including the dairy, industrial bakery, poultry farm, seafood, chocolate manufacturing unit, confectionery, the beverage industry, fruits, nuts and vegetables. Stainless steel is one of the significant items widely used in food processing equipment. 304SS and 316SS are the two most common types of alloys used in food processing equipment.
Most food processing equipment has similar automation and motion control needs, such as transportation and material positioning, heating, bleaching, cooking, pasteurization, sterilization evaporation, freezing, thawing and drying. Such equipment also requires gentle handling, cleaning and precise control of temperatures, pressures, processing times and other process parameters. Food processing equipment is often integrated with high-speed packaging and labeling equipment in a variety of industries, such as meat and dairy.
Market dynamics:
The steady rise in demand and consumption of processed foods is a critical factor for the market. Although this is a universal phenomenon, it is more particular to the developing world. The recent economic success and increasing market openness to foreign products have radically transformed the food processing sector in countries such as India and China. An essential consequence of this is the increase in meat consumption. Meat processing equipment is one of the fastest-growing segments, especially in developing countries.
The market is also facing several challenges in terms of updating the equipment or overhaul in some cases. Many of these changes are designed to overcome the difficulties of production capacity or government regulations. The Food Safety Modernization Act (FSMA) is one of those laws that is expected to have a profound impact on many machine manufacturers. Processing machines in direct contact with food are subject to stringent regulations. Increasing consumer attention to quality also involves the use of more specialized and sophisticated equipment, which requires more capital.
Recent developments:
The vast and highly fragmented nature of the market offers many exciting opportunities. The increased sophistication of the industry has led to a consensus on the need for more automated technologies. The adoption of such technologies aims to increase speed and efficiency. Increasing market penetration in developing regions such as India, Thailand and Indonesia, has increased demand for processing and packaging machinery. It is essential to take advantage of the opportunities offered by these growing regions to break the stagnation of the industry.
Key trends:
The availability of raw materials, changes in lifestyle should offer a more excellent selection of food products at a lower cost, and technological innovation is one of the critical factors that contribute to the growth of the market all over the world. Among the various food processing equipment, the bakery and pasta equipment market is growing faster. Increasing the income level of the individual leads to a more significant investment in food processing equipment. Population growth in the countries of the Asia-Pacific region and frequent changes in people's food preferences are generating a growing demand for food products. This trend tends to increase investment in food processing equipment. Due to technological advances in food processing equipment for cutting, slicing and grinding, many companies are replacing older machines with newer, and more efficient devices for better performance.
Regional Analysis:
The Asia Pacific is one of the fastest-growing markets for food processing equipment. In the Asia-Pacific region, China is the largest market for food processing equipment. According to the Italian Trade Commission, the total food processing market in India is expected to reach around USD 330.0 billion for 2014-2015. In North America, the USA is the largest market for food processing equipment. Raising awareness about new food products, developing the economy, investing in research and development of food processing equipment are among the main drivers of the food processing market in the European region.
Key stakeholders:
The world market for food processing machines is fragmented and competitive, with many small manufacturers in various places. Many suppliers of food processing machines have established their factories in several geographical regions, now the expanding global market.
Key Players:
Anko Food Machine Co. Ltd., Atlas Pacific Engineering Co. Inc., Berkshire Hathaway Inc., Bucher Industries, Mallet & Co. Inc., Nichimo Co. Ltd., Spx Corp., Ziemann International, AFE Group Ltd., Bean (John) Technologies Corp., BMA Group, Heat and Control Inc., Hosokawa Micron Corp. and Meyer Industries Inc. are among the leading companies in the world market for food processing machines.
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