Connect with us
MARE BALTICUM Gaming & TECH Summit 2024

Artificial Intelligence

With 4.2% CAGR, Global Food Processing and Handling Equipment Market Size Worth USD 140.17 Billion by 2029

Published

on

Pune, India, Aug. 02, 2022 (GLOBE NEWSWIRE) — The global food processing and handling equipment market size was valued at USD 101.23 billion in 2021 and reached USD 105.13 billion in 2022. The company is expected to touch USD 140.17 billion by 2029, exhibiting a CAGR of 4.2% during the forecast period. Furthermore, robust investments in food processing and rising demand for hygienic convenience products are expected to enhance the market growth. Fortune Business Insightsprovides this information in its report titled “Food Processing and Handling Equipment Market, 2022-2029.

Get a Sample PDF Brochure:

https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/food-processing-and-handling-equipment-market-101701

COVID-19 Impact:

Increasing Food Safety Concerns Impeded Market Growth

This market was negatively affected during the COVID-19 pandemic due to increased food safety concerns among people. The sudden spike in COVID-19 infections impeded the demand for the equipment. Companies needed to invest more in the sanitization of machinery, thereby increasing resource consumption. Further, governments imposed regulations to promote hygienic practices in the industry. As per HACCP’s recent studies, the COVID-19 virus remains active on surfaces for nearly 72 hours, resulting in contamination. This factor led to rising spending on sanitization. These factors negatively affected the industry’s progress.

Segments

Food Processing Equipment Segment to Grow Attributable to Strong Demand from Food & Beverage Sector

By equipment type, the market is segmented into processing equipment, packaging equipment, and service equipment.

The processing equipment segment is expected to exhibit strong growth due to strong demand from the food & beverage industry. Furthermore, the increasing demand for ready-to-eat foods is expected to enhance the demand for the product.

Bakery and Confectionery Products Segment Dominate Market Share Owing to Extensive Adoption of Dairy Products

Based on application, the market is classified into bakery and confectionery products, meat and poultry products, dairy products, beverages, and others (grains, fruits, nuts and vegetables, and others.)

The bakery and confectionery products segment is expected to hold a dominant market share due to extensive adoption of dairy products. Furthermore, increasing investments from foreign and domestic companies in the food and beverage sector are expected to foster market progress.

Browse Summary of this Research Report

https://www.fortunebusinessinsights.com/industry-reports/food-processing-and-handling-equipment-market-101701

Report Coverage

The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market’s key players.

Drivers and Restraints

Integration of Robotics and High-End Automation Technologies to Propel Market Growth

Food processing and handling equipment are responsible for food processing and equipment handling. The integration of robotics and high-end automation technologies is expected to enhance the demand for the equipment. Furthermore, the increasing adoption of automation in industries may improve Artificial Intelligence (AI) and the Internet of Things (IoT) adoption, thereby enhancing food processing and equipment handling adoption. Moreover, rapid urbanization and the increasing adoption of fast-paced lifestyles are likely to enhance the demand for hygienic convenience food products. These factors may drive the food processing and handling equipment market growth.

However, the lack of awareness regarding food safety regulations is expected to hamper industry growth.

Food Processing and Handling Equipment Market: Report Scope & Segmentation:

Report Attribute Details
Market size value in 2022 USD 105.13 Billion
Revenue forecast in 2029 USD 140.17 Billion
Growth Rate CAGR of almost 4.2% 2012-2029
Base Year 2021
Historic Years 2018 – 2020
Forecast Years 2012 – 2029
Segments Covered By Equipment Type, By Application, By Region
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2022 to 2029
Regions Covered North America, Europe, Asia Pacific, Middle East & Africa, Latin America and Rest of World
Countries Covered Unites States, Canada, Mexico, Unites Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered Buhler Ag (Switzerland), JBT (Illinois), M.A. INDUSTRIA MACCHINE AUTOMATICHE S.p.A. (Italy), Tetra Pak International S.A. (Tetra Laval) (Switzerland), The Middleby Corporation (Illinois), Welbilt (Florida), Krones AG (Germany), GEA Group Aktiengesellschaft (Germany), ALFA LAVAL (), Dover Corporation (Illinois)
Food Processing and Handling Equipment Market Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Regional Insights

Rising Disposable Incomes to Foster Market Growth in Asia Pacific

Asia Pacific is expected to dominate the food processing and handling equipment market share due to rising disposable incomes. The market in Asia Pacific stood at USD 29.74 billion in 2021 and is expected to gain a huge portion of the global market share. Further, shifting consumer preferences and strong demand for processed foods are expected to enhance market progress.

In Europe, substantial investments in expanding production facilities are expected to bolster food processing and handling equipment adoption. For example, Kellogg’s invested nearly USD 121.5 million in November 2019 to expand its Pringles facility in Poland. These factors may incite the industry’s growth in the region.

Competitive Landscape

Major Players Announce Innovative Products to Bolster Brand Image

The prominent companies operating in the market announce innovative products to bolster their brand image. For example, in September 2021, GEA Group AG launched Batch2Flow. This product is developed to boost the security of the food production process and reduce power consumption. This launch may enable the company to offer effective food processing solutions to consumers and enhance its brand image globally. Furthermore, major players in the market devise expansions, research and development, partnerships, mergers, acquisitions, and automated production techniques to achieve organizational goals and bolster their market position globally.

Check Discount-

https://www.fortunebusinessinsights.com/enquiry/check-discount/food-processing-and-handling-equipment-market-101701

Key Industry Development

  • January 2022: Ska Fabricating acquired GR-X Manufacturing to expand its product portfolio and enhance its market position.

List of Key Players Profiled in the Report

  • Buhler Ag (Switzerland)
  • JBT (Illinois)
  • I.M.A. INDUSTRIA MACCHINE AUTOMATICHE S.p.A. (Italy)
  • Tetra Pak International S.A. (Tetra Laval) (Switzerland)
  • The Middleby Corporation (Illinois)
  • Welbilt (Florida)
  • Krones AG (Germany)
  • GEA Group Aktiengesellschaft (Germany)
  • ALFA LAVAL ()
  • Dover Corporation (Illinois)

Table of Content:

  • Introduction
    • Definition, By Segment
    • Research Methodology/Approach
    • Data Sources
  • Executive Summary
  • Market Dynamics
    • Macro and Micro Economic Indicators
    • Drivers, Restraints, Opportunities and Trends
    • Impact of COVID-19
      • Short-term Impact
      • Long-term Impact
  • Competition Landscape
    • Business Strategies Adopted by Key Players
    • Consolidated SWOT Analysis of Key Players
    • PESTEL Analysis
    • Porter’s Five Forces Analysis
    • Supply Chain Analysis
    • Global Food Processing and Handling Equipment Key Players Market Share Insights and Analysis, 2021
  • Global Food Processing and Handling Equipment Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
    • Key Findings
    • By Equipment Type (USD)
      • Processing Equipment
      • Packaging Equipment
      • Service Equipment
    • By Application (USD)
      • Bakery & Confectionery Products
      • Meat & Poultry Products
      • Dairy Products
      • Beverages
      • Others (Grain, Fruit, and Nut & Vegetable)
    • By Region (USD)
      • North America
      • Latin America
      • Europe
      • Middle East & Africa
      • Asia Pacific
  • North America Food Processing and Handling Equipment Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
    • Key Findings
    • By Equipment Type (USD)
      • Processing Equipment
      • Packaging Equipment
      • Service Equipment
    • By Application (USD)
      • Bakery & Confectionery Products
      • Meat & Poultry Products
      • Dairy Products
      • Beverages
      • Others (Grain, Fruit, and Nut & Vegetable)
    • By Country (USD)
      • United States
        • By Equipment Type (USD)
          • Processing Equipment
          • Packaging Equipment
          • Service Equipment
      • Canada
        • By Equipment Type (USD)
          • Processing Equipment
          • Packaging Equipment
          • Service Equipment
  • Latin America Food Processing and Handling Equipment Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
    • Key Findings
    • By Equipment Type (USD)
      • Processing Equipment
      • Packaging Equipment
      • Service Equipment
    • By Application (USD)
      • Bakery & Confectionery Products
      • Meat & Poultry Products
      • Dairy Products
      • Beverages
      • Others (Grain, Fruit, and Nut & Vegetable)
    • By Country (USD)
      • Brazil
        • By Equipment Type (USD)
          • Processing Equipment
          • Packaging Equipment
          • Service Equipment
      • Mexico
        • By Equipment Type (USD)
          • Processing Equipment
          • Packaging Equipment
          • Service Equipment
      • Rest of Latin America

TOC Continued.

Speak to Analyst: 

https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/food-processing-and-handling-equipment-market-101701

Have a Look at Related Research Insights:

Industrial Robots Market Size, Industry Share | Forecast, 2029

Robotic Lawn Mower Market Size, Industry Share | Forecast, 2029

Gate Openers Market Size, Industry Share | Forecast, 2029

About Us:

Contact Us:

Fortune Business Insights Pvt. Ltd.

9th Floor, Icon Tower,

Baner – Mahalunge Road, Baner,

Pune-411045, Maharashtra, India. 

Phone:

US: +1 424 253 0390

UK: +44 2071 939123

APAC: +91 744 740 1245

Email: [email protected]

Connect us via Social Media Channels:

LinkedIn  Facebook  Twitter Blogs

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Artificial Intelligence

Global Insurance Provider Selects 3CLogic to Streamline AI and Contact Center Capabilities with ServiceNow

Published

on

global-insurance-provider-selects-3clogic-to-streamline-ai-and-contact-center-capabilities-with-servicenow

Multinational Insurance Broker to deploy 3CLogic’s solution with ServiceNow’s Financial Service Operations (FSO) platform to streamline customer experiences.
ROCKVILLE, Md., April 25, 2024 /PRNewswire/ — 3CLogic, the leading Conversational AI and Contact Center solution for ServiceNow®, today announced its selection by a global insurance provider to replace its existing contact center infrastructure as part of a larger CX transformation effort. The strategic decision is designed to complement the organization’s use of ServiviceNow’s Financial Services Operations (FSO) offering leveraged across a number of its existing product lines including Customer Warranty Claims, Roadside Assistance, and Home Warranties.

Serving millions of customers worldwide with innovative insurance and protective products, the organization required a solution that would enhance its recent investment in the ServiceNow platform as it works to transform its end-to-end customer service operations. The deployment will incorporate several of 3CLogic’s AI-powered capabilities purpose-built for ServiceNow, including Conversational AI, Speech Analytics, and AI Performance & Coaching, along with integrated call transcriptions, convenient 2-way SMS, and ServiceNow-centralized contact center reporting.
“We continue to see enterprises eager to complement their existing investment in digital platforms, such as ServiceNow, with contact center features purpose-built to extend the workflows and features they already have and use,” explains Matt Durkin, VP of Global Sales at 3CLogic. “It’s no secret that organizations are already juggling too many systems, often with overlapping capabilities, which impacts ROI and operational efficiency. We’re proud to offer an alternative approach that helps simplify the technology stack while optimizing the overall operational costs and outcomes.”
Recently named to Constellation Research’s 2024 Shortlist for Digital Customer Service and Support, 3CLogic has seen global adoption of its solution by leading enterprises in healthcare, manufacturing, travel, retail, higher education, finance, non-profits, and Managed Service Providers across five continents. As a ServiceNow-certified Technology and Build partner with offerings available for ServiceNow’s IT Service Management, Customer Workflows, HR Service Delivery, and Source-to-Pay solutions, the company will be unveiling its latest set of capabilities at ServiceNow’s annual Knowledge 2024 event this May in Las Vegas.
For more information, please contact [email protected].
About 3CLogic3CLogic transforms customer and employee experiences with its leading Cloud Contact Center and AI solutions purpose-built to enhance today’s leading CRM and Customer Service Management platforms. Globally available and leveraged by the world’s leading brands, its offerings empower enterprise organizations with innovative features such as intelligent self-service, generative and Conversational AI, agent automation & coaching, and AI-powered sentiment analytics – all designed to lower operational costs, maximize ROI, and optimize each interaction across IT Service Desks, Customer Support, Sales or HR Services teams. For more information, please visit www.3clogic.com.
Logo – https://mma.prnewswire.com/media/2318845/3CLogic_logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/global-insurance-provider-selects-3clogic-to-streamline-ai-and-contact-center-capabilities-with-servicenow-302127739.html

Continue Reading

Artificial Intelligence

ScreenPoint Medical Leadership Transition: Pieter Kroese Confirmed as CEO

Published

on

screenpoint-medical-leadership-transition:-pieter-kroese-confirmed-as-ceo

Leading Breast AI Company, creator of industry-leading Transpara®, promotes from within for new CEO
NIJMEGEN, Netherlands, April 25, 2024 /PRNewswire/ — ScreenPoint Medical, today announced a significant transition in its leadership as Mark Koeniguer, the current CEO, steps down from his position. Mark served as CEO since 2022 and was instrumental in ScreenPoint’s commercial growth and success over the past 2 years.

 
 
The company’s Board of Directors has appointed Pieter Kroese as the new Chief Executive Officer effective April 25, 2024. Pieter takes the role after serving as COO of ScreenPoint for over five years. During that time, he has managed the transition of the company from an early startup to a thriving enterprise with hundreds of customers using ScreenPoint’s flagship Transpara software to support millions of scans a year.
“I am thrilled to lead ScreenPoint into its next phase of growth and innovation,” said Mr. Kroese. “I am deeply committed to building upon the strong foundation we have and continuing to work closely with our talented team to drive continued success. We are already expanding screening capacity and capability through proven reader support – we look forward to increasing our ability to support providers and women moving forward.”
Sir Michael Brady, Chairman of the Board at ScreenPoint Medical and a co-founder of the company, expressed enthusiasm about Pieter’s appointment, stating, “Pieter’s remarkable leadership qualities, coupled with his depth of knowledge of our product and industry, make him the perfect choice to lead ScreenPoint into the future. His strategic mindset and commitment to excellence align perfectly with our company mission of early breast cancer detection. Pieter has been an integral part of our growth to date and will provide seamless leadership through this transition into our next chapter for our customers, partners, and team.”
Author of “No Longer Radical” and over a hundred peer-reviewed publications on breast imaging, Dr. Rachel Brem is a Transpara user and ScreenPoint Board Member. Dr. Brem welcomed Mr. Kroese with the following: “Pieter has been an integral part of the ScreenPoint team for years. I am confident that his leadership will continue to deliver product excellence: earlier detection with outstanding reading workflow and improved patient outcomes. We continue to see these results from clinical sites all over the world, including many here in the United States. No other Breast AI solution has demonstrated the same results as Transpara, and I am confident that the team will continue to push on these frontiers under Pieter’s leadership.” 
The entire team at ScreenPoint extends its gratitude to Mark Koeniguer and wishes him every success in the future, while warmly welcoming Pieter Kroese into his new role as CEO.
About ScreenPoint Medical
ScreenPoint Medical translates cutting edge machine learning research into technology accessible by radiologists to improve screening workflow, decision confidence and breast cancer risk assessment. Transpara is trusted by radiologists globally because it has been developed by experts in machine learning and image analysis and updated with user feedback from world-renowned breast imagers.
See all the proof at: https://screenpoint-medical.com/evidence.
Photo: https://mma.prnewswire.com/media/2397831/Pieter_Kroese_CEO_ScreenPoint_Medical.jpgLogo: https://mma.prnewswire.com/media/1582198/ScreenPoint_Medical_Logo.jpg
 
 

View original content:https://www.prnewswire.co.uk/news-releases/screenpoint-medical-leadership-transition-pieter-kroese-confirmed-as-ceo-302127719.html

Continue Reading

Artificial Intelligence

Robotics Market to Surpass USD 126.96 Billion by 2031 | SkyQuest Technology

Published

on

robotics-market-to-surpass-usd-126.96-billion-by-2031-|-skyquest-technology

WESTFORD, Mass., April 25, 2024 /PRNewswire/ — The growing need for automation, technological developments, and long-term cost reductions are driving a robust expansion in the worldwide robotics market. SkyQuest projects that Global Robotics Market size is poised to grow from USD 41.50 Billion in 2023 to USD 126.96 Billion by 2031, at a CAGR of 15% during the forecast period (2024-2031).

Download a detailed overview:
https://www.skyquestt.com/report/robotics-market
Browse in-depth TOC on the “Robotics Market”
Pages – 202Tables – 64Figures – 75Robotics Market Overview:
Report Coverage
Details
Market Revenue in 2023
$41.50 billion
Estimated Value by 2031
$126.96 billion
Growth Rate
Poised to grow at a CAGR of 15%
Forecast Period
2024–2031
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Application, End Users, and Region
Geographies Covered
North America, Europe, Asia Pacific, and the Rest of the world
Report Highlights
Collaborative Robotics
Key Market Opportunities
Prompting Several Industries to Adopt Automation Technologies
Key Market Drivers
Increasing Demand for Automation
Surge of Automation is Supporting Growth of Robotics Industry 
The industrial sector is generating high revenues for the global robotics market owing to extensive automation in manufacturing, which increases productivity and lowers overall production costs. Assembly line, painting, and welding robots have become essential, thereby propelling substantial market expansion in the automotive, electronics, and heavy duty sectors. Due to the increased usage of robots for non-manufacturing functions such as customer service, shipping, and healthcare, the services sector is expanding quickly. This rapid growth is being driven by technological improvements and the push for automation in services.
Surge in Advance Robotics is Bolstering Market Growth
The use of robotics in manufacturing processes is growing, and innovation in this field is happening quickly worldwide. By increasing productivity, efficiency, and precision, advanced robotics technologies—such as AI-driven automation systems and collaborative robots, or cobots—are transforming the manufacturing sector. The dominance of manufacturing in the worldwide robotics market is fuelled by the integration of robotics into manufacturing facilities, which helps businesses remain competitive in today’s dynamic market scenario.
Rising Interest in Service Robotics is Driving Demand for Robotics in Asia Pacific
Due to the strong demand for industrial and service robots in the region, Asia Pacific now leads the global robotics industry. China, Japan, and South Korea are among the nations that have made significant investments in the robotics sector recently. The Middle East and Africa are anticipated to register the fastest-growing rate for the global robotics market. The expansion is ascribed to the region’s growing adoption of automation technology, especially in the manufacturing and logistics industries.
Request Free Customization of this report:
https://www.skyquestt.com/speak-with-analyst/robotics-market
Drivers:
Increasing Demand for AutomationAdvancements in AI and Machine Learning TechnologiesRestraints:
High Initial InvestmentsLack of Skilled WorkforceProminent Players in Global Robotics Market:
FANUC America Corporation (US)Epson Robotics (Japan)Staubli International AG (Switzerland)YRG Inc. (US)Comau S.p.A. (Italy)Northrop Grumman Corporation (US)Honda Motor Co., Ltd. (Japan)Seiko Epson Corporation (Japan)Yamaha Motor Co., Ltd. (Japan)Adept Technology, Inc. (US)View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/robotics-market
Key Questions Answered in Global Robotics Market Report
How big is the global robotics market, and what compound annual growth rate (CAGR) is it anticipated to deliver between 2024 and 2031?Which industries are fuelling the need for automation and fostering the expansion of the robotics sector?What impact have recent technological advancements and innovations had on the direction of the robotics market?Which well-known companies in the robotics industry are also major players in the global robotics market?This report provides the following insights:
Analysis of key drivers (increasing demand for automation across industries, improved the overall efficiency, productivity of the processes, demand for automation), restraints (high initial investments, difficult for small and medium-sized enterprises to invest, robots, sensors, and other equipment required not delivered), opportunities (advancements in AI and machine learning technologies, new opportunities for the robotics market, perform complex tasks with high accuracy), and challenges (lack of skilled workforce, maintenance of these robotics systems) influencing the growth of robotics marketMarket Penetration: Comprehensive information on the product portfolios offered by the top players in the robotics marketProduct Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the robotics marketMarket Development: Comprehensive information on lucrative emerging regionsMarket Diversification: Exhaustive information about new products, growing geographies, and recent developments in the marketCompetitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.Related Reports:
Global Service Robotics Market
Global Soft Robotics Market
Global Warehouse Robotics Market
Global Cloud Robotics Market
Global Robotic Welding Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific. 
Contact:Mr. Jagraj SinghSkyquest Technology1 Apache Way,Westford,Massachusetts 01886USA (+1) 351-333-4748Email: [email protected] Our Website: https://www.skyquestt.com/

View original content:https://www.prnewswire.co.uk/news-releases/robotics-market-to-surpass-usd-126-96-billion-by-2031–skyquest-technology-302127230.html

Continue Reading
Advertisement
Advertisement

Latest News

Trending