Market Overview
Market Research Future (MRFR) studied the food processing market 2021 through the analysis period till 2030. As per MRFR study, the food processing market is expected to surge at nearly 7.60% CAGR in the review period (between 2022 and 2030). By 2030, the food processing market is expected to value USD 134.7 Billion. The surge in demand for extruded food products can contribute to the expansion of the food processing market. The growing focus on shape, texture, and color of foodstuff that can attract consumers, especially the young population, can support expansion of the regional market. The introduction of new extrusion equipment that assists in maintaining uniformity shapes and sizes of different foodstuff can support the food processing cycle in the years to come. The growing demand for snacks and RTC products, along with breakfast cereal among professionals, can contribute to the growth of the market.
Segmental Analysis
The segment assessment of the food processing market is based on Equipment Type, application, and category.
The type-based segments of the food processing market are sorting, cleaning, grading equipment, cutting, grinding equipment, peeling, mixers blenders, homogenizers, and thermal equipment among other equipment. Extrusion Equipment. The extrusion equipment segment is projected to surge in the review period due to the increase utility of extrusion equipment. Extrusion equipment enables uniformity of shape and size in the final product, which is crucial aspect in mass production. The upscaling demand for savory and sweet snacks, RTC products, and breakfast cereals that requires extensive extrusion solutions can boost the market segment.
The category-based segments of the food processing market are Semi-Automated and Fully Automated. The semi-automated segment is likely to register the highest CAGR in the forecast tenure. This can be attributed to the rise in investments made by food processor companies to introduce technologically advanced equipment. Food processors focus on boosting the production efficiency while curbing labor costs, which can drive the segment rise. The fully automated segment is expected to gain popularity over the review tenure that can support the global food processing market expansion.
The application-based segments of the food processing market are bakery confectionery, beverages, dairy products, meat, poultry, fruits vegetables, and seafood products among others. The bakery and confectionery segment is likely to dominate the worldwide food processing market in the review period. The expansion of the bakery and confectionery segment can be attributed to the gradual surge in the demand for bakery and confectionery products, such as; chocolate, cookies, bread, and cake that is leading to the increase in the demand for high-efficiency equipment. The growing demand for different types of food processing equipment, such as; formers, mixers, and blenders, by bakery confectionery manufacturers, can favor the market upsurge in the years to come.
Regional Analysis
In Europe, the increase in the investment made by companies dealing in food processors in adoption of automation solutions and innovations can benefit the regional market in the years to come. The rise of EU food processing market can be attributed to the increasing demand for food packaging films. The inclination toward the fully automated equipment can drive the regional market in the analysis term.
In the Asia Pacific region, the upsurge in demand for poultry, seafood, and processed meat can promote the regional market in the years to come. The increase in demand for RTC products and protein-rich RTE can also fuel sales of poultry, processed meat, and seafood can add to the market rise. Government regulations for worker and food safety can influence the adoption of automated equipment, which, in turn, can support the expansion of the market in the near future.
Key Players
Marel (Iceland), JBT Corporation (US), GEA Group AG (Germany), The Bühler Holding AG (Switzerland), TNA Solution Pty Ltd (Australia), Alfa Laval AB (Sweden), Bucher Industries AG (Switzerland), FENCO Food Machinery s.r.l. (Italy), SPX Flow (US), Equipamientos Cárnicos, S.L. (Spain), Clextral S.A.S (France) Bigtem Makine A.S. (Turkey), Anko Food Machine Co. Ltd. (Taiwan), Paul Mueller Company (US), and Krones AG (Germany) are some top-notch companies that are functioning in the food processing market as listed by MRFR.
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
Contact us:
Market Research Future (part of Wantstats Research and Media Private Limited), 99 Hudson Street,5Th Floor, New York, New York 10013, United States of America
Email: sales@marketresearchfuture.com
