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

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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.

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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.

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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.

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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.

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