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Food Processing Machinery Market by Application and Geography - Forecast and Analysis 2020-2024

  • Published: Jun 2021
  • Pages: 120
  • SKU: IRTNTR43232
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The food processing machinery market share is expected to increase by USD 16.15 billion from 2019 to 2024, and the market's growth momentum will accelerate at a CAGR of 5.58%.

This food processing machinery market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers food processing machinery market segmentations by end-user (cosmetic and personal care, home care, automotive and industrial, and other end-user), application (MPS, bakery, dairy, and others), and geography (APAC, Europe, North America, MEA, and South America). The food processing machinery market report also offers information on several market vendors, including Alfa Laval AB, BAADER, Bühler AG, GEA Group Aktiengesellschaft, Illinois Tool Works Inc., John Bean Technologies Corp., KRONES AG, Marel, Tetra Laval International SA, and The Middleby Corp. among others.

What will the Food Processing Machinery Market Size be During the Forecast Period?

Food Processing Machinery Market Size

Download the Free Report Sample to Unlock the Food Processing Machinery Market Size for the Forecast Period and Other Important Statistics

 

Food Processing Machinery Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The anticipated growth in global packaged food market during forecast period is notably driving the food processing machinery market growth, although factors such as the purchase of refurbished machinery and retrofitting of current machinery by food manufacturers may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the food processing machinery industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Food Processing Machinery Market Driver

The anticipated growth in the global packaged food market during the forecast period is notably driving the food processing machinery market growth. Packaged food provides the convenience of consumption and is being widely adopted by consumers. As packaged food offers longer shelf life, better hygiene, and improved convenience in handling and storage over other food products, the demand for packaged food is expected to grow exponentially. For instance, the demand for packaged food products in the UK is 4-5 times more than that of loosely sold, fresh food products. The global packaged food market was is expected to rise to $3.03 trillion by 2022, marking an increase of 17.34% during 2017-2022. Geographically, North America is one of the biggest markets for packaged food, mainly due to the increased consumption of packaged food in North America when compared with fresh food consumption. For example, in the US, the consumption volume of packaged food is above 25% than the consumption volume of fresh food. High consumption of packaged food showcases a positive outlook for the growth of the global packaged food market, which will, in turn, drive the demand for the global food processing machinery market.

Key Food Processing Machinery Market Trend

The growing focus on safety features of food processing machinery is the key trend driving the food processing machinery market growth. The safety of operators of food processing machinery is one of the major concerns for food manufacturers, especially for those operating commercial meat processing machinery. During 2018-2019, about 14% of fatal injuries suffered by workers was caused by contact with machinery in the manufacturing sector in the UK. The number of injuries in food processing plants is more than that in other manufacturing sectors in the US. Therefore, meat processing machinery providers have started to provide more safety features to machines. For example, Torrey, a food processing equipment provider, offers the Meat Slicer RMS330, provided with safety features. For instance, the knife has a cover and side protector to avoid accidents during the cleaning and operation of the equipment. Similarly, Hobart, one of the leading food processing equipment providers, offers the Bowl-Style Food Processor that has triple-safety interlocks and designed no-slip stability.

Key Food Processing Machinery Market Challenge

The major challenge impeding the food processing machinery market growth is the purchase of refurbished machinery and retrofitting of current machinery by food manufacturers. Food manufacturers are increasingly purchasing second-hand or rebuilt machinery instead of new food processing mainly because the cost of refurbished machinery is around 50% less than that of new machinery. Some companies also retrofit their current machinery to upgrade their capabilities and improve operational efficiency. The majority of the small and medium-sized enterprises engaged in food manufacturing opt for buying refurbished equipment due to the lack of financial resources. Moreover, the high cost and long mechanical life span of food processing machinery have created a market for refurbished or retrofitting machinery. Used equipment or second-hand equipment can be easily integrated with the existing food processing lines instead of installing a new one. Some food companies are also purchasing updated parts and instruments to improve speed and efficiency. Retrofitting allows food manufacturers to continue using the existing inventory parts, which cost substantially less than new parts.

This food processing machinery market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.

Parent Market Analysis

Technavio categorizes the global food processing machinery market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the food processing machinery market during the forecast period.

Who are the Major Food Processing Machinery Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Alfa Laval AB
  • BAADER
  • Bühler AG
  • GEA Group Aktiengesellschaft
  • Illinois Tool Works Inc.
  • John Bean Technologies Corp.
  • KRONES AG
  • Marel
  • Tetra Laval International SA
  • The Middleby Corp.

 

This statistical study of the food processing machinery market encompasses successful business strategies deployed by the key vendors. The food processing machinery market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • BAADER - The company offers various food processing machinery and equipment solutions such as Fish processing and Poultry processing.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The food processing machinery market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Food Processing Machinery Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the food processing machinery market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Food Processing Machinery Market?

Food Processing Machinery Market Market segmentation by region

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57% of the market's growth will originate from APAC during the forecast period. China is the key market for food processing machinery market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The growth of the food retail industry and high consumption of dairy products will facilitate the food processing machinery market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating End-user Segments in the Food Processing Machinery Market?

Food Processing Machinery Market Segmentation

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The food processing machinery market share growth by the MPS segment will be significant during the forecast period. Some of the food processing equipment used for red meat are meat tenderizers, meat choppers and grinders, electric meat saws and bone saws. The demand for such instruments will grow due to the growing consumption of meat and poultry. Global seafood production is on the rise. The increased production of seafood can be attributed to the growing popularity of aquaculture.

This report provides an accurate prediction of the contribution of all the segments to the growth of the food processing machinery market size and actionable market insights on post COVID-19 impact on each segment.

You may be interested in the regional reports:

US Food Processing Machinery market - The market share will grow at a CAGR of more than 2% over the forecast period.

Food Processing Machinery Market Scope

Report Coverage

Details

Page number

120

Base year

2019

Forecast period

2020-2024

Growth momentum & CAGR

Accelerate at a CAGR of 5.58%

Market growth 2020-2024

$ 1.61 trillion

Market structure

Fragmented

YoY growth (%)

4.75

Regional analysis

APAC, Europe, North America, MEA, South America, APAC, Europe, North America, MEA, and South America

Performing market contribution

APAC at 57%

Key consumer countries

China, US, Germany, South Korea (Republic of Korea), and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Alfa Laval AB, BAADER, Bühler AG, GEA Group Aktiengesellschaft, Illinois Tool Works Inc., John Bean Technologies Corp., KRONES AG, Marel, Tetra Laval International SA, and The Middleby Corp.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

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What are the Key Data Covered in this Food Processing Machinery Market Report?

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive food processing machinery market growth during the next five years
  • Precise estimation of the food processing machinery market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the food processing machinery industry across APAC, Europe, North America, MEA, South America, APAC, Europe, North America, MEA, and South America
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of food processing machinery market vendors

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Executive Summary

    Executive Summary

      Market Landscape

        Market Landscape

        • Market ecosystem
        • Market ecosystem
        • Value chain analysis
        • Value chain analysis

        Market Sizing

          Market Sizing

          • Market definition
          • Market definition
          • Market segment analysis
          • Market segment analysis
          • Market size 2019
          • Market size 2019
          • Market outlook: Forecast for 2019 - 2024
          • Market outlook: Forecast for 2019 - 2024

          Five Forces Analysis

            Five Forces Analysis

            • Five forces summary
            • Five forces summary
            • Bargaining power of buyers
            • Bargaining power of buyers
            • Bargaining power of suppliers
            • Bargaining power of suppliers
            • Threat of new entrants
            • Threat of new entrants
            • Threat of substitutes
            • Threat of substitutes
            • Threat of rivalry
            • Threat of rivalry
            • Market condition
            • Market condition

            Market Segmentation by Application

              Market Segmentation by Application

              • Market segments
              • Market segments
              • Comparison by Application
              • Comparison by Application
              • Bakery - Market size and forecast 2019-2024
              • Bakery - Market size and forecast 2019-2024
              • Dairy - Market size and forecast 2019-2024
              • Dairy - Market size and forecast 2019-2024
              • Others - Market size and forecast 2019-2024
              • Others - Market size and forecast 2019-2024
              • Market opportunity by Application
              • Market opportunity by Application

              Customer landscape

                Customer landscape

                • Customer landscape
                • Customer landscape

                Geographic Landscape

                  Geographic Landscape

                  • Geographic segmentation
                  • Geographic segmentation
                  • Geographic comparison
                  • Geographic comparison
                  • APAC - Market size and forecast 2019-2024
                  • APAC - Market size and forecast 2019-2024
                  • Europe - Market size and forecast 2019-2024
                  • Europe - Market size and forecast 2019-2024
                  • North America - Market size and forecast 2019-2024
                  • North America - Market size and forecast 2019-2024
                  • MEA - Market size and forecast 2019-2024
                  • MEA - Market size and forecast 2019-2024
                  • South America - Market size and forecast 2019-2024
                  • South America - Market size and forecast 2019-2024
                  • Key leading countries
                  • Key leading countries
                  • Market opportunity by geography
                  • Market opportunity by geography
                  • Market drivers - Demand led growth
                  • Market drivers - Demand led growth
                  • Market challenges
                  • Market challenges
                  • Market trends
                  • Market trends

                  Vendor Landscape

                    Vendor Landscape

                    • Overview
                    • Overview
                    • Landscape disruption
                    • Landscape disruption

                    Vendor Analysis

                      Vendor Analysis

                      • Vendors covered
                      • Vendors covered
                      • Market positioning of vendors
                      • Market positioning of vendors
                      • Alfa Laval AB
                      • Alfa Laval AB
                      • BAADER
                      • BAADER
                      • Bühler AG
                      • Bühler AG
                      • GEA Group Aktiengesellschaft
                      • GEA Group Aktiengesellschaft
                      • Illinois Tool Works Inc.
                      • Illinois Tool Works Inc.
                      • John Bean Technologies Corp.
                      • John Bean Technologies Corp.
                      • KRONES AG
                      • KRONES AG
                      • Marel
                      • Marel
                      • Tetra Laval International SA
                      • Tetra Laval International SA
                      • The Middleby Corp.
                      • The Middleby Corp.

                      Appendix

                        Appendix

                        • Scope of the report
                        • Scope of the report
                        • Currency conversion rates for US$
                        • Currency conversion rates for US$
                        • Research methodology
                        • Research methodology
                        • List of abbreviations
                        • List of abbreviations

                        Research Framework

                        Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                        TechnavioINFORMATION SOURCES

                        Primary sources

                        • Manufacturers and suppliers
                        • Channel partners
                        • Industry experts
                        • Strategic decision makers

                        Secondary sources

                        • Industry journals and periodicals
                        • Government data
                        • Financial reports of key industry players
                        • Historical data
                        • Press releases
                        Technavio

                        TechnavioDATA ANALYSIS

                        Data Synthesis

                        • Collation of data
                        • Estimation of key figures
                        • Analysis of derived insights

                        Data Validation

                        • Triangulation with data models
                        • Reference against proprietary databases
                        • Corroboration with industry experts
                        Technavio

                        TechnavioREPORT WRITING

                        Qualitative

                        • Market drivers
                        • Market challenges
                        • Market trends
                        • Five forces analysis

                        Quantitative

                        • Market size and forecast
                        • Market segmentation
                        • Geographical insights
                        • Competitive landscape
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                        Food Processing Machinery Market market growth will increase by $16.15 bn during 2020-2024.
                        The food processing machinery market market is expected to grow at a CAGR of 5.58% during 2020-2024.
                        Technavio has segmented the food processing machinery market market by application (MPS, bakery, dairy, and others) and geography (APAC, Europe, North America, MEA, South America, APAC, Europe, North America, MEA, and South America).
                        Alfa Laval AB, BAADER, Bühler AG, GEA Group Aktiengesellschaft, Illinois Tool Works Inc., John Bean Technologies Corp., KRONES AG, Marel, Tetra Laval International SA, The Middleby Corp. are a few of the key vendors in the food processing machinery market market.
                        APAC will register the highest growth rate of 57% among the other regions. Therefore, the food processing machinery market market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
                        • China
                        • US
                        • Germany
                        • South Korea (Republic of Korea)
                        • UK
                        The key factors driving the food processing machinery market market growth are:
                        • Anticipated growth in global packaged food market during forecast period
                        • Growing focus on safety features of food processing machinery
                        The food processing machinery market market vendors should focus on grabbing business opportunities from the mps segment as it accounted for the largest market share in the base year.
                        • What are the key global market and the regional market share?
                        • What are the revenue-generating key market segments?
                        • What are the key factors driving and challenging this market’s growth?
                        • Who are the key market vendors and their growth strategies?
                        • What are the latest trends influencing the growth of this market?
                        • What are the variables influencing the market growth in the primary regions?
                        • What are the factors influencing the growth of the parent market?
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                        • Five-force market analysis

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