Food Processing Equipment Market to Expand at a CAGR of 6.7% between 2017 and 2022

Players within the global food processing equipment market are concentrating on product enhancements and developing technological advanced equipment, states Transparency Market Research (TMR), in its latest report. The growing need for flexible equipment will also give rise to the need for automation so as to manage efficient carrying out of all operations. Energy efficiency, safety, and minimizing the cost of maintenance are some of the factors crucial for the manufacturers within the global food and beverage industry. Key players within the market include: Bucher Industries AG, Krones AG, AB Electrolux, John Bean Technologies Corporation, Tetra Laval, Bühler AG, SPX Corporation, Dover Corporation, ALFA LAVAL GEA Group AG, Marlen International, Inc., NICHIMO CO., Marel, LTD, BMA Braunschweigische Maschinenbauanstalt AG, Middleby Corporation, and Meyer Industries.

As per the latest report compiled by Transparency Market Research (TMR), the global food processing equipment market is expected to reach US$ 70,510.1 million revenue by the end of 2022, expanding at a CAGR of 6.7% between 2017 and 2022. By type of equipment, the thermal equipment type is leading in the market. On the basis of application, it is the bakery and confectionery segment which is predicted to lead in the forecast period within the global food processing equipment Market. On the basis of type of food, the market is expected to be led by the processed food segment.

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APEJ to Emerge Key Market for Food Processing Equipment

On the basis of operation, it is the semi-automatic food processing equipment which will witness higher demand between 2017 and 2022. By geography, Asia Pacific excluding Japan is expected to be one of the key markets for food processing equipment on account of the staggering increase in the population as well as the subsequent demand for food. The increasing number of manufacturing facilities within the food and beverage sector will also drive the growth of the Asia-Pacific excluding Japan market for food processing equipment. In the year 2017, this region accounted for 2/5 of the total revenue share.

Manufacturers Focusing on Green Technology

According to the lead author of this report, players within the food processing equipment Market are strategizing in order to establish their products in the market by implementing the latest of Technologies and offering Advanced features. With green technology is becoming increasingly popular today, manufacturers are introducing food processing equipment that are energy efficient and also result in reduced maintenance cost in operation cost. For the reduction of carbon footprint, existing companies within the food and beverage sector are extensively replacing their old equipment with the new energy-efficient equipment. This in turn is expected to drive the growth of the global food processing equipment Market.

Need for Energy Efficiency to Drive Adoption of Latest Food Processing Equipment

The growing awareness regarding the immense harmful effects on the environment will drive food manufacturers to adopt newer and Greener energy-efficient equipment for the manufacturing of food. Energy Efficiency is also a critical factor for food manufacturers because it brings about reduction in the production cost. Another factor which will drive food manufacturers to opt for the latest and energy efficient model is the growing initiatives taken by government across the globe by introducing tax credit programs so as to motivate manufacturers to make use of green technologies.

Introduction of Smart Food Processing Equipment to Drive Growth Prospects of Market

Another important trend which is influencing the growth of the global food processing equipment market is automation. Food manufacturers are rapidly driven towards adopting highly advanced and automated equipment which brings about saving of both time and energy, while also offering high speed and efficiency. Manufacturers are also introducing smart food processing equipment which interacts with the operator for starting the equipment, stopping the equipment, and diagnosing issues and failures remotely from anywhere. In addition to this food processing equipment manufacturers are also concentrating on virtual reality for enabling food manufacturers to see the equipment in action and see it in full detail so as to decide whether they couldn't meet their needs before they can purchase it. Such facilities offered by food processing equipment manufacturers will go a long way and drive the growth of the market.

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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materia