Market Research

The Food Processing and Handling Equipment Market is Experiencing Major Growth

Processing coffee beans into a bin — Photo by Andrew Neel on Unsplash

MarketsandMarkets reports that the global food processing and handling equipment market projects growth from $130.6 billion in 2021 to $175.1 billion by 2026, recording a compound annual growth rate (CAGR) of 6% during the forecast period. The food processing and handling equipment market is reportedly exhibiting strong growth, with the rising demand for prepared food products globally, changes in consumer lifestyles, a transformative leap forward in technological capabilities and increasing investment opportunities in the food processing industry. The markets in North America and Europe have been growing consistently due to the established food and beverage processing industry and the presence of international food processing equipment manufacturers. The rise in demand for processed and convenience food has been supported by the reported rise in disposable income and rapid urbanization in developing countries such as India, Brazil and China.

Some of the Prominent Key Players are:

GEA Group (Germany)
ALFA LAVAL (Sweden)
JBT Corporation (US)
SPX Flow (US)
Robert Bosch (Germany)
IMA Group (Italy)
Multivac (Germany)
Krones Group (Germany)

Advancements in the food processing industry, innovation in processing technology, and continuous growth in the demand for processed food are some factors expected to support the growth of the food and beverage processing equipment market. With the growing preference for healthy and functional foods, manufacturers expect to adopt new equipment to fulfill the demand for healthy functional foods and beverages. The expansion of food manufacturing capacities and growth of the food processing industry in emerging economies will also support the growth of the food processing and handling equipment market, says MarketsandMarkets.

According to the research, the solid segment dominated the global food processing and handling equipment market due to the rising consumption of solid food products, such as bread, processed meat and processed vegetables. Changing consumer preferences and adopting upgraded technologies to enhance the shelf life of products are also driving the growth of the solid segment. Customizations and innovations in the bakery and dessert industries and the rising demand for processed fruit and vegetable products provide manufacturers with opportunities to grow in the food processing and handling equipment market.

The food industry in the Asia Pacific region is gigantic. In the region, product innovations and technological advances have put increasing pressure on quality standards at all levels, with a growing emphasis on food safety, integrity, quality and nutritional and health impacts. Growth in the demand for processed foods and the rapid rise in supermarkets and retail outlets are some of the positive factors shaping the growth of the food and beverages industry in the region. The research states that with the rising urban incomes and higher consumption proportions of animal products, there is a demand for a more varied range of foodstuffs. The changing demand for processed food and gradual liberalization of the international food trade has resulted in the rise of multinational food retailers.