The global market for equipment for the food industry will exceed 74 billion dollars in the next five years, says Meticulous Research ™
According to a new Meticulous Research ™ report, the market for equipment for the food industry will exceed US $ 74 billion by 2022, an increase of 6% over the next five years.
Demand for processed food
This market is due to “the increased demand for processed food consumption, the growing emphasis on food safety and security, the growing need for higher productivity, greater attention to food manufacturers to reduce costs Production and government support for the promotion of the food processing sector, “” Careful Research ™, said in a press release today.
However, the high cost of the equipment and the growing propensity to consume a minimum of processed foods limit the growth of this market to some extent.
Processing equipment for meat, poultry and seafood
It is expected that a well-developed processing equipment for meat, poultry and seafood will dominate the equipment market for the food industry until 2022, “mainly due to the growing demand for processed meat products, due to the growing population, urbanization and the global consumer’s preference for rich protein foods. ”
The report points out that the chocolate and confectionery equipment market is expected to be the fastest growing during the projected period, due to “the growing demand for the production of high-value confectionery products under the pressure of costs, each This is the time to maximize the energy efficiency requirements, the increase in the confectionery industry, and the rapid growth of consumer attitudes towards consumers. ”
Large demand in India, China, Indonesia and Thailand
Asia and the Pacific is the largest market for the food industry due to the “constant demand for processed foods in countries like India, China, Indonesia and Thailand, as well as an increase in investment by major food producers.” The region is witnessing a huge growth in the food and beverage industry, mainly due to increased urbanization, health awareness and disposable income; As a result of numerous companies in the production of food and beverages are moving from manual to the mechanical treatment of food to increase production and development of new products, which ultimately contributes to the development of the market of equipment for the food industry.
The main players in this market are Bühler (Switzerland), Marel HF (Iceland), GEA Group Aktiengesellschaft (Germany), Bucher Industries AG (Switzerland), John Bean Technologies Corporation (USA), The Middleby Corporation (USA). .), Heat and Control Inc. (USA), SPX Flow Inc. (USA), Alfa Laval AB (Sweden), Nichimo International Inc. (Japan), Krones AG (Germany), Paul Mueller (USA). USA), Key Technology Inc. (USA) and Tetra Pak International SA (Switzerland).