Persistence Market Research announced a new report on the global food processing equipment market. According to the report, the size was valued at $53.69 billion in 2024 and is expected to grow at a compound annual growth rate (CAGR) of 4.0% from 2024 to 2031.
The availability of raw materials, changing lifestyles, the need to offer a broader selection of food products at lower costs and innovation in technology are some of the key factor which helps to drive the growth of food processing equipment market worldwide. Among various food processing equipment, the market for bakery and pasta equipment is growing at a faster rate.
The growing income level of individual leads to more investment in food processing equipment. The larger population base in Asia Pacific countries and frequent change in food preferences among individuals is leading to an increasing demand for food products. This trend leads to investment more on food processing equipment.
Due to advancements in technology related to cutting, slicing and grinding in food processing equipment, many manufacturers in the food industry are replacing their older machines with newer ones, which are more efficient and boost their bottom line through higher throughput.
Asia Pacific is one of the fastest growing markets for food processing equipment. The market is driven by increasing demand of processed food products in emerging and developing countries including India, China, Indonesia and Thailand. In the Asia Pacific region, China accounts for the largest market in food processing equipment
Emerging Trends and Opportunities
Looking ahead, several trends are poised to shape the future of the food processing equipment market. Personalized nutrition, driven by advancements in data analytics and AI, is expected to gain traction, leading to the development of customized processing solutions tailored to individual dietary needs.
Furthermore, the rise of alternative protein sources, such as plant-based and lab-grown meats, presents new opportunities for equipment manufacturers to innovate and diversify their product offerings. Additionally, the growing popularity of online food delivery services is fueling demand for compact, portable processing equipment suited for small-scale kitchens and cloud kitchens.
In conclusion, the food processing equipment market is witnessing robust demand fueled by population growth, changing consumer preferences and technological advancements. As food producers strive to meet the evolving needs of consumers while adhering to stringent quality and safety standards, the role of advanced processing equipment becomes increasingly indispensable. Moving forward, innovation will continue to drive this dynamic market, paving the way for a more efficient, sustainable and resilient food industry.
