The global food packaging technology and equipment market size is anticipated to surge from $39,900 million in 2022 to reach $74,230 million by 2032, registering at 6.4% CAGR between 2023 and 2032.
The food processing and handling equipment market is 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.
While many industries struggle with economic and market challenges, a new report from CRB finds that pet food manufacturers are racing to add capacity to meet consumer demand for high-quality products, driven by “the humanization of pet food.”
According to a Capstone Partners report, “February 2022 Food & Agriculture Sector Update,” merger and acquisition (M&A) volume in the food and agriculture sector surged 17% year-over-year (YOY) in 2021 with 383 deals announced or completed, which marked the highest number of transactions in over four years.