Comprehensive Report on Food Processing Equipment Market by global COVID-19 impact analysis, industry trends, business strategies, opportunities and forecast to 2027
Cooling and Heating Systems Improve Shelf Life of Bakery Items
Heating and cooling applications are becoming increasingly mainstream in the food & beverages industry. Hence, manufacturers in the market for food processing equipment are increasing their efficacy in novel heat processing equipment that improve the shelf life of bakery goods. This is evident since cooling & heating systems equipment segment projected to lead the food processing equipment market. As such, the market is estimated to reach a value of ~US$ 80 Bn by the end of 2027. Thus, there is a growing demand for heating and cooling systems that destroy microorganisms or enzymes that may cause spoilage.
On the other hand, companies in the food processing equipment market are innovating in mechanical processing equipment for size reduction, size enlargements, etc. As such, size reduction equipment segment is estimated to account for a significant share of the food processing equipment market.
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F&B Manufacturers Gain Confidence with Energy-efficient Systems
Manufacturers in the food processing equipment market are introducing industry-pioneering systems that increase production efficiency and incredible ROI. Hence, end users are increasingly investing in cutting-edge systems to lower lifecycle costs and establish reliable operations. Companies in the market for food processing equipment are increasing R&D in robust design and construction of equipment to help end users gain confidence. As such, there is a growing demand for equipment that deliver high-quality products and enhance the flavor of foods.
In order to gain credibility in the highly-competitive landscape, manufacturers in the food processing equipment market are increasing their production capacities to develop systems that offer increased energy savings and effective pollution control. End users are investing in sustainable systems that benefit the environment and the bottom line of F&B producers. State-of-the-art systems are being highly publicized for reducing fuel costs and reducing water consumption. The market for food processing equipment is estimated to reach an output of ~12,470 units by the end of 2027.
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Social Initiatives Bridge Gap between Producers and Food Processing Units in India
Food processing equipment plays a pivotal role in the completion of production cycles, such as washing, mixing, and sealing F&B products. However, certain limitations in the food processing landscape are likely to slow down the growth of the food processing equipment market. For instance, the food processing equipment market in Asia Pacific is anticipated to grow at a significant rate. This is evident since India is one of Asia Pacific’s rapidly developing economy. Moreover, a significant number of individuals are employed in the agricultural sector. However, lack of adequate connectivity and insufficient raw materials pose as barrier for companies that lose out on profits.
Since India cannot afford food wastage as it is one the top countries with high prevalence of malnourished population, several initiatives by NGOs are providing connectivity between producers and food processing facilities. The market for food processing equipment is witnessing a change with the introduction of government initiatives that provide better rural connectivity.
Introduction of Post-processing Systems Propels Food Processing Equipment Market
The food processing equipment market is expected to expand at a CAGR of ~5%Â during the forecast period. Manufacturers are leveraging incremental opportunities with the help of preparation equipment. The demand for preparation equipment is arising from the demand for cleaning, grading, and peeling operations in the ever-growing food industry. On the other hand, manufacturers are increasing their production capacities to develop preservation equipment that employ natural and non-natural chemical substances to inhibit spoilage. This is well explained since application segment of sea foods, meat & poultry is estimated to generate second-highest revenue in the market landscape.
The demand for food processing equipment is surging, due to its demand in post-processing operations. These operations primarily involve post-processing packaging operations. Hence, manufacturers are exploring value-grab opportunities by developing advanced packaging equipment. As such, containment, convenience, and communication are becoming key focus points for stakeholders dealing with packaging equipment.
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Analysts’ Viewpoint
Apart from heating & cooling systems, manufacturers are increasing the availability of auxiliary equipment such as utility and measurement & control equipment. Oil management is another key driver contributing to the growth of the food processing equipment market.
The market is growing as a result of corn products processing and surface treatment. However, in a developing economy such as India, which is one of the rapidly growing economies in Asia Pacific, is challenged with the lack of trained/skilled laborers in the food processing sector. Hence, companies and governments should increase efforts to build a robust food processing infrastructure that benefits a vast number of labor class in India.
Food Processing Equipment Market: Overview
- According to a latest market report published by Transparency Market Research on the food processing equipment market for the period 2019–2027 (wherein 2019 to 2027 is the forecast period and 2018 is the base year), increase in the consumption of processed food across the globe is expected to drive the food processing equipment market
- Globally, revenue generated by the food processing equipment market accounted for ~US$ 50.6 Bn in 2018, which is expected to expand at a CAGR of ~5% in terms of value throughout the forecast period
Urbanization and Rising Disposable Income Leading to Increasing Demand for Processed Food: A Key Driver of Food Processing Equipment Market
- Growing urbanization and increasing disposable incomes are altering lifestyles across major cities in developing countries. This is influencing a major percentage of human population to depend on processed food. According to UN estimates, by 2050, nearly two-thirds of the global population will live in urban areas. Urbanization is around 80% in South American countries and although it has plateaued in recent years, decades of migration to urban centers has resulted in vast swathes of urban centers.
- As the percentage of working population increases, a marked transition to processed foods is seen. Sales of breakfast cereals, tinned vegetables, cheese, savory snacks, milk pouches, bakery & confectionery, and meat products are on the rise in urban centers.
- Increasing demand for easy-to-cook food products is creating sustained growth opportunities for food processing equipment manufacturers. Surge in the demand for quick meat products has also increased the demand for processed food. These factors are likely to provide growth opportunities to food processing equipment manufacturers during the forecast period.
Adoption of Energy-efficient Processing Technology Gaining Center Stage: A Significant Opportunity for Food Processing Equipment Market
- The food processing industry is increasingly focusing on using energy-efficient equipment in a bid to reduce operational costs. As the industrial movement of minimizing the carbon footprint has gained importance, this initiative has resulted in replacement of existing equipment with energy-efficient equipment all over the globe.
- The shift to green technologies is also receiving support of governments in the form of tax credit programs. It is highly likely that more players in the global food processing equipment market will focus on incorporating energy-efficient equipment in their operations. This is expected to enhance the demand for food processing equipment across the globe.
Technology Change by Automation and Robotic Intelligence in Bulk Handling: Key Trend of in Global Market
- Nowadays, food processors are installing bulk handling systems in each sector of the food processing industry to meet the growing demands of end users. These systems can guarantee an increase in the overall output of diversified product lines.
- Increasing investment by manufacturers in high-end automation, robotics, and innovative equipment seems to be the current trend in the food processing equipment market. This is to avoid risk of bulk handling, improve overall quality of the products, and enhance their production capacity.
High Cost of Food Processing Equipment Remains a Longstanding Challenge and Expected to Hamper Market Growth
- High cost of food processing equipment remains a challenge for small and medium-sized food processors. The limited spending power of small and medium-sized food processors has resulted in preference for cheaper products with manual and semi-automatic functions. High cost of equipment has also resulted in ignorance of new technology and continuation with existing equipment. This has directly resulted in a major challenge for the growth of the food processing equipment market.
Food Processing Equipment Market: Competition Landscape
- Detailed profiles of manufacturing players of the food processing equipment market have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies
- Key players operating in the food processing equipment market include
- GEA Group AG
- Buhler AG
- Tetra Laval International S.A.
- Alfa Laval AB
- Krones AG
- Dover Corporation
- Middleby Corporation
Food Processing Equipment Market: Key Developments
- Prominent service providers in the food processing equipment market are increasing investment on innovative food processing equipment to fulfill the needs of processors. Manufacturers are also planning to expand their range of products and presence in various geographies through mergers & acquisitions and tie-ups with local food processing equipment providers.
- On January 13, 2020, Middleby Corporation acquired RAM Fry Dispensers, a business unit of Automated Equipment LLC based in Red Wing, Minnesota, U.S., which specializes in automated frozen fry dispensing equipment
- In 2019, Krones AG invested around US$ 45 Mn in a new production facility at Debrecen in Hungary to manufacture components of machine and assembling line parts
- In November 2019, Alfa Laval AB inaugurated an Innovation & Test center of 2,000 square meters in Soborg, Denmark, to develop, test, and optimize the next generation of decanters and strengthen its position across the globe in the food and water sector
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