The global food processing & handling equipment market for USD 137.2 billion in 2019 and is projected to grow at a CAGR of 6.2%, to reach USD 196.6 billion by 2025. Advancements in the food processing industry, innovation in processing technology, and continuous growth in the demand for processed food are some factors that are expected to support the growth of the food & beverage processing equipment market. The expansion of food manufacturing capacities and growth of the food processing industry in emerging economies will also support the growth of the food & beverage processing equipment market. With the growing preference for healthy food and functional foods, manufacturers are expected to adopt new equipment to fulfill the demand for healthy functional foods & beverages. Companies across food processing, food retail, and foodservice value chains have various opportunities to access or increase their penetration of equipment products, either organically or through acquisition.
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The food processing equipment segment is estimated to dominate the global food processing & handling equipment market in 2019.
By equipment type, the food processing & handling equipment market was dominated by the food processing equipment segment in 2018, in terms of value. Food companies are focusing on product innovations and providing efficient and advanced technologies to food producers who are demanding operationally advanced machinery to cater to the growing demand from the food industry. New technologies such as non-thermal processing are also being developed to support the manufacturing process by reducing production time, ingredient & food waste, and overall cost. The growing health awareness is driving the demand for healthy and convenience food products, which is also expected to drive the food processing & handling market in the food industry.
The bakery & confectionery products segment is estimated to account for the largest share in the food processing & handling equipment market in 2019.
By application, the bakery & confectionery products segment is estimated to account for the largest share in the food processing & handling equipment market in 2019. Processing equipment such as industrial ovens, molders, formers, mixers, blenders, and cutters form an integral part of bakery & confectionery products manufacturing, and their high demand is mainly due to the highly fragmented bakery & confectionery market and high prevalence and demand for these products in both developed and developing countries. The demand for ultra-processed bakery products is high in developed countries such as the UK, Germany, the US, Canada, and Spain. These countries represent an established bakery industry and are experiencing a rise in the popularity of premium and innovative bakery products such as pastries, glazed & chocolate coated donuts, sugar & chocolate coated cookies, and chocolate pies. Such countries are focused on the production of bakery items to meet the increasing demand. This demand for bakery products is facilitating the increasing use of bakery processing equipment.
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The Asia Pacific market is projected to grow at the highest CAGR during the forecast period.
Asia Pacific is projected to be the fastest-growing regional market for food processing & handling equipment in 2019. The region is expected to experience a sharp rise in the demand for advanced food processing machinery that helps reduce processing time and enhance the efficiency of manufacturing operations. The expected growth in the number of food processing units in this region is further projected to boost the supply and consumption of food & beverage processing equipment. The food processing sectors in countries such as China, India, Australia, and New Zealand are export-oriented; also, the processing sector is of prime importance in these countries, as the players here are focusing on technology adoption and automation. This is expected to have a positive impact on the food & beverage processing equipment market in the region.
Key Market Players:
The key players in the food processing & handling equipment market are GEA (Germany), Buhler Ag (Switzerland), Alfa Laval (Sweden), JBT Corporation (US), SPX FLOW (US), Robert Bosch (Germany), IMA Group (Italy), Middleby Corporation (US), and Dover Corporation (US), Robert Bosch (Germany), IMA Group (Italy), Tetra Laval (Switzerland), Multivac (Germany), Middleby Corporation (US), Welbilt, Inc. (US), and Electrolux (Sweden). These players, along with the other players, adopted various business strategies such as new product launches, expansions, and joint ventures & agreements in the last few years, to meet the growing demand for food processing & handling equipment market.
- In May 2019, GEA launched a new SmartPacker CX400 packaging machine, which has induction sealing capabilities for meat and poultry manufacturers. In April 2019, GEA also launched CALLIFREEZE system for the GEA S-Tec spiral freezer in the Asian market. This product would help GEA’s customers to meet their Industry 4.0 strategy requirements.
- In May 2019, Bosch Packaging Technology, a subsidiary of Bosch, launched the Pack 403, a fully-automated, narrow horizontal flow wrapper in the European and Asian markets. The company has been continuously developing innovative products according to the customers’ demands.
- In April 2019, Tetra Pak launched a connected packaging platform; this would transform juice and milk cartons into interactive information channels, digital tools, and full-scale data carriers.
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