The food processing equipment market size was estimated at USD 50.8 billion in 2022 and is projected to surpass USD 77.76 billion by 2032, growing at a CAGR of 4.40% from 2023 to 2032.
Key Takeaways
- Asia Pacific led the global market with the highest market share in 2022.
- By Type, the processing segment has held the largest market share in 2022.
- By Mode of Operation, the automatic segment registered the maximum market share in 2022.
- By Application, the meat, poultry, and seafood segment is estimated to hold the highest market share in 2022.
Besides hovering awareness of food safety, processed food products have led to the adoption of advanced technology-based processing equipment, which is anticipated to ultimately boost the global food processing equipment market during the forecast period. Food processing equipment transforms the raw food constituents into food items via numerous chemical and physical ways. This equipment is available in several categories which consist of dryers, chillers, roasters, fryers, grinders, feeders, mixers, separators, homogenizers, slicers, and ovens. Furthermore, the food processing equipment are utilized in numerous industries comprising industrial bakery, the seafood industry, dairy industry, poultry farm, confectionery, beverage industry, milk, nut, fruit, and vegetable sector. Nowadays, the spending capabilities over processed foods are increasing tremendously hence there is a huge growth in the food processing equipment market.
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Food Processing Equipment Market Scope
| Report Highlights | Details |
| Market Size by 2032 | USD 77.76 Billion |
| Growth Rate from 2023 to 2032 | CAGR of 4.40% |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Segments Covered | Type, Mode of Application, Application, Region Type |
Growth Factors
Mounting pressure on the processing industry owing to the growing demand for packaged and processed food products as a result of the intensifying population is anticipated to contribute to the substantial market expansion in the near future. This is prompting a major percentage of the human population to rely on processed food. Moreover, as the percentage of working population upsurges, a marked transition to processed foods is seen. Some of the major influences supporting the widespread demand of food processing equipment in the emergent nations include augmented globalization, increasing income, and implementation of automated technologies among others. Additionally, escalating need for processed foods and improvement of novel foods and beverages that need innovative production approaches and related machinery are further flourishing the growth of the market. On the other hand, the presence of stringent regulatory compliances regarding the manufacturing of processed food may hamper the growth of this market in the near future.
The global food processing equipment industry is facing a number of challenges as it deals with the impact of the novel coronavirus (COVID-19) outbreak. The mainstream of the global populace is in lockdown on account of speedy proliferation of the COVID-19 epidemic. The contagion situation has led to a complete shutdown of numerous operations across the world. Numerous key industries are under the threat of a decline in their sales. In addition, the food & beverage sector is undergoing minor demise in its trades owing to the total lockdown of numerous nations across the globe. This has adversely influenced the global food processing equipment market as consumers are electing to purchase only indispensible products.
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Report Highlights
- Rising urbanization and snowballing disposable incomes are altering lifestyles across major cities in developing nations. This, in turn, boosts the growth of the food processing equipment market.
- The food processing industry is progressively focusing on using energy-efficient equipment in a bid to condense operational costs.
- A huge population base in Asia Pacific nations and frequent changes in food inclination amongst consumers augments demand for food products
- Escalating investment by manufacturers in high-end automation, robotics, and innovative equipment seems to be the current trend in the food processing equipment market.
Regional Snapshots
The North America region is expected to dominate the global food processing equipment market by occupying the maximum market share. Furthermore, the European region is projected to witness significant growth during the forecast period owing to increasing awareness level regarding innovative food products. However, the Asia Pacific region is anticipated to be the fastest-growing market for food processing equipment over the projection period. The region is projected to experience a sharp growth in the demand for advanced food processing equipment that helps decrease the processing time and improve the efficiency of manufacturing operations. In addition, the food processing sectors in Asian countries such as China, India, Australia, and New Zealand are export-oriented; likewise, the processing sector is on high priority in these countries, as the companies here are focusing on technology adoption and automation. The estimated growth in the number of food processing units in the Asia Pacific region is further expected to propel the supply and consumption of food processing equipment.
Key Players & Strategies
The food processing equipment market is fragmented and consists of several regional and international competitors. The major players such as Berkshire Hathaway Incorporated, Anko Food Machine Company Limited, Atlas Pacific Engineering Company Incorporated, Bettcher Industries Incorporated, and several others are constantly focusing on improving research and development activities and facilitate other organic strategies to gain a competitive edge in the food processing equipment market. Foremost companies in the food processing equipment market are likely to involve in strategies to acquire leading brands to enlarge their product portfolio. Prominent manufacturers cater to international clients through their respective manufacturing amenities, while smaller companies elect to accommodate domestic players.
Particular significant players contending in the global food processing equipment market include:
- GEA Group AG
- Bettcher Industries Incorporated
- Anko Food Machine Company Limited
- Berkshire Hathaway Incorporated
- Atlas Pacific Engineering Company Incorporated
- Bucher Industries AG
- Hosokawa Micron Corporation
- Bibun Engineering
- Others
Segments Covered in the Report
By Type
- Processing
- Pre-processing
By Mode of Operation
- Semi-automatic
- Automatic
By Application
- Bakery & Confectionery
- Meat, Poultry & Seafood
- Dairy
- Beverages
- Others
By Regional Outlook
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of the World
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