The Global Food & Beverage Processing Equipment market is expected to grow at a high CAGR during the forecast period (2022 - 2029).
The food processing industry is demanding products that provide operational & Energy Efficiency. From the Technology side, the market is driven by process automation, Artificial Intelligence, Industrial IoT. Food processing equipment companies are becoming aware of Predictive maintenance technology.
Strict labor wage laws will further push the technological progress in the food processing equipment market.
Regarding consumers, demand for processed food is increasing which is expected to drive the market. Consumer concerns about safety are expected to robotize the food processing industry to reduce human contact and chances of contamination.
Various dietary trends such as vegan, Glutton-free increase the demand for necessary processing equipment especially in developed countries.
Developing countries are mostly responsible for the growth of the market. Overall Industrialization, Urbanization, and rising income are fuelling consumer demand. Replacement of manual labor with automation in the food processing sector in developing countries is also an essential factor.
Penetration of popular restaurant chains in developing countries is also driving the market. The USA has more than 500 restaurants per million people whereas China, Brazil, India, Egypt all have less than 100 restaurants per million people.
Government regulations are showing a considerable impact on the market. The US EPA created a partnership between ENERGY STAR and food processing companies called Food Processing Focus which help the market to grow further.
The food & Beverage Processing Equipment Market is segmented by application, type, and technology. By request, Bakery & confectionary segment has the largest market share due to the massive consumption of bread, cakes, cookies, biscuits & Chocolate all over the world.
Meat, poultry, the sea-foods segment is expected to be the fastest-growing due to increasing demand for beef. By type, the market is segmented into pre-processing & processing.
The processing segment has a larger market share due to the rising level of processing in the food industry driven by taste & health concerns.
By technology, the market is divided into Semi-automatic and Automatic. While the semi-automatic segment accounted for a significant share of the market, the Automatic portion is expected to grow due to technological innovations.
By region, Food & Beverage Processing Equipment market is segmented into Asia Pacific, Europe, North America, South America, and the Rest of the World. Asia-pacific is the largest market due to China. China is the largest producer of food & beverage processing equipment.
The food & Beverage Processing Equipment market follows the overall economic activity. Countries with low economic growth such as Japan are expected to witness low growth rates.
Many developed countries are also likely to exhibit less than the average growth rate. Asia-pacific excluding Japan is expected to witness significant growth due to India, Indonesia, and Thai-land. Developing countries in South America are also likely to show high growth.
Some of the prominent players in the Food & Beverage Processing Equipment market are Buhler, Tetra Pak, Marel, JBT Corporation, GEA Group, Mallet & Company, Par-Way Group, Meyer Industries, Inc., Alfa Laval, Heat and Control, Inc. In September 2018, Bühler launched a cloud-based digital feed and food drying service, moisture, that it says boosts yield, while reducing costs and the environmental footprint of thermal processing in the feed and food industries.
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