31 October 2019
Visiongain has launched a new Consumer Goods report Food Processing equipment Market Forecasts by Type (Pre-processing equipment, Processing equipment), by End Product (Solid, Liquid, Semi-Solid), by Mode of Operation (Semi-automatic, Automatic) by Application (Bakery, Confectionery Products, Meat & Poultry, Dairy Products, Fish & Seafood, Alcoholic Beverages, Non-alcoholic Beverages, Others), PLUS Profiles of Leading Companies and Regional and Leading National Market Analysis.
The global Food processing equipment market is expected to grow at a lucrative rate during the forecast period. Some of the key factors driving the market include the increasing demand for processed and packaged food, solutions, rising disposable income, adoption of automated technologies. However, the concerns associated with lack of adequate technology & capital and poor infrastructure facilities in emerging economies may pose as market restraints. The food processing equipment market can be segmented based on type, end product, mode of operation, application, and region.
Factors such as availability of raw materials, increasing demand for high quality products with an extended shelf life, growing uptake of healthy drinks such as protein based drinks, and herbal drinks, growing consumer awareness regarding healthy eating, and rising disposable income are expected to fuel the market growth. Furthermore, a large consumer base and availability of technologically advanced equipment and machinery are also anticipated to propel market growth.
By type, processing equipment segment is anticipated to contribute the largest share of revenue. The large size of the segment can be attributed to technological advancements such as upgraded software and operations that allow the manufacturers to offer a multi-functional product in a single equipment. Furthermore, development in the machine and equipment sector is also expected to propel the growth of the segment. Several challenges for the market include poor infrastructure facilities & lack of capital and technology in developing countries such as India. Asia Pacific led the market in 2018 and is expected to continue to dominate during the forecast period. Factors such as a large population, rising disposable income, rapid urbanization, and growing consumer awareness are contributing to the large share of the region. Strong economy and established R&D of China is also expected to positively influence the growth of the region. Europe is projected to be the most lucrative region during the forecast period.
The global Food processing equipment market is highly competitive with many players entering the market in order to cater to the growing consumer demand. Some of the players such as Marel, GEA Group, Bühler, JBT Corporation, Alfa Laval, TNA Australia Solutions, and Bucher Industries are currently dominating the market. These major companies are increasingly focusing on research and development activities so as to gain competitive advantage. Some of the other companies operating in the market include Equipamientos Cárnicos, S.L. (Mainca), Clextral, SPX Flow, Bigtem Makine, Fenco Food Machinery. These companies are taking various strategic initiatives such as mergers, acquisitions, and partnerships so as to increase their presence in the global market.
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