The global food preservation equipment market size is expected to be valued at $43.1 billion in 2022 and further expand at a healthy growth rate of 6.2% CAGR between 2023 and 2033. Total food preservation equipment sales are forecast to total $78.15 billion by 2033, according to Future Market Insights (FMI).
With a rising focus on reducing food waste and extending shelf-life of processed food products, preservation equipment is in global demand. Food preservation refers to a range of methods used to keep food from rotting after it has been made ready for consumption. Industries such as poultry, snacks, seafood, beverages and dairy are driving markets for preservation technologies.
Initially, food products were preserved by using simple techniques like drying, refrigeration and fermentation. However, modern preservation is described as canning, pasteurization, freezing and irradiation. Industries such as the ones listed above, employ modern preservation technologies to enhance the shelf-life of products.
With the growth of food processing industries, which must eliminate chances of microbial growth, prevent spoilage through the distribution process and enhance shelf-life, a high demand for food preservation equipment will eventually be generated during FMI’s forecasted period. In a symbiotic relationship, food preservation equipment is an essential tool for the growth across food manufacturing and processing industries.
In the U.S. specifically, there is a growing focus toward preventing foodborne illnesses that is boosting the U.S. food preservation equipment market. Rising incidence of foodborne diseases across the US is playing a crucial role in propelling food preservation demand. According to the Centers for Disease Control and Prevention (CDC), approximately 48 million people get sick and 3,000 succumb to food-borne diseases each year. Food manufacturing companies, in turn, employ various preservation procedures, including the installation and use of food preservation equipment, to dampen the impact of food spoilage, illness and extend the shelf-life of food products.
According to FMI, the U.S. food preservation equipment market is currently valued at $8.2 billion, and it holds around 68% share of the North America market. This is attributed to the rising demand for advanced food preservation equipment from industries such as poultry, beverages, and dairy. Similarly, continuous new product launches with enhanced features by U.S. equipment manufacturers will aid in the expansion of the market during the projection period.
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