Global Food Processing Equipment Market to Witness Strong Growth between 2017 and 2022
According to the latest report compiled by Transparency Market Research (TMR), the global food processing equipment market is expected to witness healthy growth, expanding at a CAGR of 6.7% during the forecast period 2017-2022. The market is also estimated to reach US$ 70,510.1 million revenue by the end of 2022.
On the basis of equipment type, compared to all the Food Processing Equipment, thermal equipment is expected to dominate the global food processing equipment market during the forecast period. By food type, the market is segmented into processed, and unprocessed food. Among these, processed food is expected to lead the market. In the terms of application, bakery and confectionery segment is anticipated to be the largest user of food processing equipment. By the operation, semi-automatic food processing equipment is expected to witness significant growth during the forecast period.
On the basis of region, the report includes North America, Europe, Latin America, APEJ, Japan, and MEA. APEJ is expected to emerge as one of the dominating regions in the global food processing equipment market. The region is estimated to account for nearly two-fifth of the revenue share by the end of 2017.
Rise in Adoption of Energy-Efficient Food Processing Equipment
Food processing equipment manufacturers are devising new strategies to establish their products in the market by integrating latest technologies. Owing to the increasing adoption of green technologies, manufacturers are producing food processing equipment that are energy-efficient and also saves operation and maintenance cost. In order to reduce carbon footprint, existing food and beverages companies are also replacing old equipment with the new energy-efficient equipment. Increasing awareness on serious environmental concerns is driving food manufacturers to adopt more efficient approaches in food production practices. Moreover, food manufacturers are also focusing on self-generation of energy and using equipment that helps in their energy saving strategies. Energy efficiency is often looked upon by food manufacturers when it comes to reducing production costs. Initiatives by the government such as tax credit program in various countries is also boosting the use of green technologies.
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Automation taking Center Stage in the Food Processing Equipment Manufacturing
Automation technologies are becoming critical in food processing equipment. Food manufacturers are moving towards adopting highly automated equipment that can offer speed, save time and energy. Manufacturers are also developing smart food processing equipment that enables the operator to interact with the equipment, start the equipment, and diagnose problems or failures from anywhere and anytime. Moreover, some of the food processing manufacturers are also focusing on using Virtual Reality (VR) to enable the food manufacturers see the food processing equipment in action, view details, and also to see if the equipment is able to meet their needs before purchase.
Food and beverage companies are looking for optimizing operations to stay competitive in the market. Hence, food processing equipment manufacturers are focusing on enhancement of features in the existing products and development of technologically advanced equipment. The increasing need for flexible equipment is giving rise to the automation to efficiently carry all the operations. Safety, energy efficiency and reduction in maintenance cost are some of the critical factors in the food and beverage industry.
The report also offers a detailed profile of some of the leading market players such as ALFA LAVAL GEA Group AG, Bucher Industries AG, Bühler AG, Krones AG, AB Electrolux, Tetra Laval, John Bean Technologies Corporation, SPX Corporation, Dover Corporation, Marlen International, Inc., Marel, NICHIMO CO., LTD, BMA Braunschweigische Maschinenbauanstalt AG, Meyer Industries, and Middleby Corporation.