The global food processing machinery market is expected to grow by USD 16.15 billion as per Technavio. Healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of almost 6%. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic.
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Technavio has announced its latest market research report titled Global Food Processing Machinery Market 2020-2024 (Graphic: Business Wire)
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Market estimates include pre- and post-COVID-19 impact on the food processing machinery market Request free sample pages
The global food processing machinery market will not see any major impact due to the spread of COVID-19. Consumers are neither expected to increase nor decrease their demand. However, the market outlook might change if the containment efforts go beyond Q2 2020.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
https://www.technavio.com/report/food-processing-machinery-market-industry-analysis
The market is driven by the anticipated growth in the global packaged food market. In addition, the growing investments in the food processing sector in developing economies in APAC is anticipated to boost the growth of the food processing machinery market.
Consumers are increasingly preferring convenience foods owing to the improved shelf life, better hygiene, and convenience in handling and storage. For instance, the demand for packaged food products in the UK is nearly five times greater than that of loosely sold, fresh food products. Similarly, the consumption volume of packaged food in the US is more than 25% than the consumption volume of fresh food. The growing consumption of convenience foods is positively influencing the growth of the global packaged food market. This, in turn, will drive the growth of the global food processing machinery market during the forecast period.
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Major Five Food Processing Machinery Companies:
Alfa Laval AB
Alfa Laval AB operates its business through segments such as Products and Services. The company offers food processing machinery equipment for Meat and poultry processing, Fat and oil processing, Fish processing, Hygenic food equipment, and others.
BAADER
BAADER operates its business through segments such as Products and Services. The company offers various food processing machinery and equipment solutions such as Fish processing and Poultry processing.
Bühler AG
Bühler AG operates its business through segments such as Grains Food, Advanced Materials, and Consumer Foods. The company offers SORTEX K Optical Sorter. It is used to determine the purity of the input product with high accuracy. Its applications are in the field of fresh and frozen vegetables, fruits, and berries.
GEA Group Aktiengesellschaft
GEA Group Aktiengesellschaft operates its business through the Products segment. The company provides a wide range of dough feeding systems and cheese making vats.
Illinois Tool Works Inc.
Illinois Tool Works Inc. operates its business through segments such as Automotive OEM, Food Equipment, Construction Products, Polymers Fluids, Specialty Products, Test Measurement and Electronics, and Welding. The company designs and manufactures advanced ware wash (dishwashing), cooking, refrigeration, and food processing equipment and provides service for institutional, industrial, restaurant, and retail customers around the world. The various solutions offered by the company are Hobart, Foster, Vulcan, Bonnet, and others.
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Food Processing Machinery Market Application Outlook (Revenue, USD Billion, 2019-2024)
- Meat
- Poultry
- Seafood
- Bakery
- Dairy
- Others
Food Processing Machinery Market Geography Outlook (Revenue, USD Billion, 2019-2024)
- APAC
- Europe
- North America
- MEA
- South America
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Related Reports on Industrials Include:
Global Food Packaging Machinery Market Global food packaging machinery market by type (FFS, labeling and coding, wrapping and bundling, and others) and geography (APAC, Europe, MEA, North America, and South America).
Global Industrial Food Blender and Mixer Market Global industrial food blender and mixer market by product (high shear mixer, ribbon blender, shaft mixer, planetary mixer, and others) and geography (APAC, Europe, MEA, North America, and South America).
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