Prepared Food Equipment Market

Prepared Food Equipment Market Growth and Forecast (2023-2028):

Prepared Food Equipment Market size was valued to be USD 12.4 billion in 2023 to USD 17 billion by 2028 with a CAGR of 6.50% throughout the outlook period 2023-2028

Prepared Food Equipment Market Overview:

Food produced for immediate consumption is defined as prepared food. Equipment indulgence is an essential factor in the prepared food manufacturing process. Equipment used in food manufacturing is often considered prepared food equipment. Food equipment is used for food handling or processing, from peeling to grinding, cooling, and roasting, etc., for both commercial and domestic use. There is various food preparation equipment, but a few are necessary items that depend on the style of food.

Recent Developments in the Prepared Food Equipment Industry:

1. In November 2020, GEA sells two companies; dairy production and refrigeration equipment, which were part of the Group's Farm Technologies division. It will now be part of Mutares SE & Co. KGaA (Germany), which will continue to offer a wide range of manure handling products and systems, primarily for the North American market.

2. In October 2020, Alfa Laval opened a new global application and innovation center for fluid processing technology in Denmark to strengthen its global position in the food and pharmaceutical sectors, which are the core businesses.

3. Bühler introduced Tubex Pro for an improved balancing solution. This would help the company provide more sophisticated equipment to its customers, as these weighers are useful for checking even the smallest deviations in weights.

4. JBT Corporation signed an agreement to acquire Proseal (UK), a provider of tray sealing technology for the food industry. This purchase is likely to reinforce JBT's position in the food packaging business.

5. Tetra Pak launched a connected packaging platform; It would transform juice and milk cartons into interactive information channels, digital tools, and large-scale data carriers.

REPORT COVERAGE:

Prepared Food Equipment Market Drivers and Restraints:

One of the main factors driving the growth of the global prepared food equipment market is the increase in consumption of ready-to-eat food products.

Also, these machines contribute to the correct operation of the different manufacturing phases such as pre-treatment, processing and packaging of food products as well as bulk production in a minimum of time. The global market is supposed to grow at a significant rate over the next ten years due to the aforementioned characteristics of prepared food equipment. This food equipment helps reduce the cost of labor and provides a hygienic mode of production that is believed to fuel the demand for prepared food equipment. Manufacturers focus on advancing packaging tactics such as graphic printing, detailed product description, etc. in order to improve product visibility and increase sales, which is estimated to support the market revenue growth during the conjecture period. Food manufacturers are focusing on production efficiency, processing time and maintaining the quality of food products, which is estimated to fuel demand for food equipment. Increasing disposable income and spending on prepackaged and ready-to-eat food products is another factor determined to drive global market growth. However, the high cost of the initial installation is one of the main factors that can hinder the growth of the global business. Furthermore, the lack of uninterrupted electricity in rural areas is another factor that can hamper the growth of the target market.

Prepared Food Equipment Market Segmentation:

By Type: packaging is expected to be the fastest growing segment in the global prepared food equipment market during the forecast period. The packaging segment is further segmented into the primary and secondary packaging. In developed countries, automated equipment is used to standardize packaging, thus increasing the value of the food product.

By Application: the snack and the savory segment is foreseen to control the global prepared food equipment market over the projection period. Sandwiches and salty products are consumed by all households as they are readily available and tasty to consume. With the growing concern for healthy food options, there are gluten-free, lactose-free, and nutrient-dense varieties of snacks available.

The automatic segment is foreseen to record the highest CAGR in the prepared food equipment market over the conjecture period based on the mode of operation. Ease of use and increased production of food products in less time are driving the market for automated food preparation equipment. Like the United States and Germany, most countries are opting for automated equipment to meet the growing demand for processed foods domestically and internationally.

Impact of COVID-19 on Prepared Food Equipment Market:

With the blockade imposed by governments due to the coronavirus pandemic, restaurants, food stores, and catering companies have been closed, affecting the sales of prepared food equipment manufacturers. Although food consumption was higher because people were at home, the market has been affected worldwide due to the COVID-19. It has had an impact on the meat products market due to negative publicity on social media about the health risks associated with consuming animal products. At the same time, the market for baked goods and prepared meals has seen good growth as they are readily available and tasty to eat.

Prepared Food Equipment Market Regional Analysis:

• North America 

• Europe 

• The Asia Pacific

• Latin America

• Middle East and Africa

North America accounted for the leading share in the global prepared food equipment market in 2019 with almost one-third of overall revenue, followed by Europe. This is mainly due to the availability of several advanced retail chains and the increasing automation of the food industry.

The increasing demand for ready-to-eat food products with technological developments and decreased lead times in the production process are influencing the growth of the prepared food equipment market in North America. Massive technological advancements in ready-to-eat food processing and rapidly growing sectors have led to the adoption of the prepared food equipment business in North America. Europe is supposed to grow with a considerable CAGR because of augmented investments in the food processing and industry sector and stringent food regulations. Increasing government investments and advances in food processing technology will also support the growth of the region.

Prepared Food Equipment Market Key Players

1. Hup Sheng Machinery & Industry Sdn Bhd

2. GEA Group Aktiengesellschaft

3. Bigtem Makine A.S

4. Heat and Control, Inc

5. Hughes Equipment Company, LLC

6. WELBILT

7. The Middleby Corporation

8. Marel

9. Buhler AG

10. Alfa Laval