Prepared Food Equipment Market: Growth Opportunities and Recent Developments
The global prepared food equipment market size is estimated to account for a value of USD 10.4 billion in 2020 and is projected to grow at a CAGR of 6.4% from 2020, to reach a value of USD 15.1 billion by 2026. The prepared food equipment markets growth is driven by various factors, such as increasing options for RTE foods, technological advancements in food industry, industrialization, and the export of various prepared foods.
Key players in the prepared food equipment market include GEA Group (Germany), Alfa Laval (Sweden), JBT Corporation (US), SPX FLOW (US), Bühler (Switzerland), Tetra Laval (Switzerland), Dover Corporation (US), Robert Bosch (Germany), Krones (Germany), Middleby Corporation (US), Marel (Iceland), IMA Group (Italy), Multivac (Germany), Ali Group (Italy). Product launches, acquisitions, agreements, and partnerships, expansions were some of the core strengths of the leading players in the prepared food equipment market. The key players adopted these strategies to increase their market presence. It also helped them diversify their businesses geographically, strengthen their distribution networks, and enhance their product portfolios. Some of the other leading players in the prepared food equipment market include Lyco Manufacturing, Inc (US), Heat and Control, Inc. (US), BigTem Makine (Turkey), Hup Sheng Machinery & Industry (Malaysia), Sumpot (China), Hosokawa Alpine (Bayern).
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GEA Group (Germany) is one of the key players in providing efficient, prepared food solutions. The company is one of the largest manufacturers of prepared food equipment. The company functions through five segments—GEA separation & flow technologies, GEA liquid & powder technologies, GEA food & healthcare technologies, GEA refrigeration technologies, and GEA farm technologies. It offers various machinery such as refrigeration machines, induction, fryers, ovens meant for different applications like food, beverage and dairy. It has established a strong brand name and has a well-established distribution network because it is a key player in the food equipment industry. The company focuses on competitive strategies to continue being a leading player in the market by agreements and new product launches. For instance, in June 2020, GEA launched the new Whitebloc filling technology for extended shelf life (ESL) beverages to benefit from aseptic filling. In October 2020, GEA signed a contract to supply a new, environmentally friendly cooling system with one of the leading British ice cream producers, Mackie’s (UK), which will be one of the most advanced in Europe.
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Alfa Laval (Sweden) is one of the leading providers of processing and packaging equipment. It operates through three segments: energy division, food & water division, and the marine division. Moreover, it offers products like centrifuges, pumps & valves, heat exchangers, thermal fluid systems, boilers, burners, and tank equipment. The company’s products, systems, and services are widespread across more than 100 countries, with production facilities in 40 major production units and distribution centers in Europe, Asia, the US, and South America. The company aims to maintain efficient production operations by employing strategies like new product launches, expansions, and agreements. In October 2020, Alfa Laval opened a new global application & innovation center for fluid handling technology in Denmark to strengthen its global position within food & pharmaceuticals, which are the companys core businesses.