Report: Processing equipment market to reach $72 billion by 2022
Asia-Pacific region expected to drive much of growth
A new report projects the global food processing equipment market to reach $72.27 billion by the year 2022.
The report, by research firm Markets and Markets, identifies rising demand for processed dairy, meat and seafood products as the largest driver of new growth in the market. The Asia-Pacific region is expected to be the territory with the largest increase in demand, with countries such as India and China experiencing high demand for processed food.
Solid processed foods are expected to be the largest share of in-demand products. The category includes meat, seafood, bakery products and ready-to-eat products. The ongoing trend towards fast food and convenience food is largely responsible for growth in this segment.
The type of equipment used varies by region. In fully developed economies, more equipment is automatic. In developing economies such as some countries in South America and the Asia-Pacific region, semi-automatic equipment is more common. Processing equipment studied for the report includes thermal equipment, mixers, blenders, homogenizers, cutting and peeling equipment and extraction equipment.
To purchase the full report, visit http://www.marketsandmarkets.com/Market-Reports/food-processing-equipment-market-121668697.html.