Enjoy complimentary customisation on priority with our Enterprise License!
The food processing machinery market size is estimated to grow at a CAGR of 6.49% between 2023 and 2028. The market size is forecast to increase by USD 22,086.71 million. The growth of the market depends on several factors such as rising investments in the food processing sector in developing economies in APAC, increasing demand for convenient food products and growth of contract manufacturing in the food industry.
This food processing machinery market report extensively covers market segmentation by type (depositors, refrigeration, slicers and dicers, and others), application (MP and S, bakery, dairy, and others), and geography (APAC, Europe, North America, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018 to 2022.
To learn more about this report, Request Free Sample in PDF
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Rising investments in the food processing sector in developing economies in APAC are notably driving market growth. The food processing industry is a crucial part of any economy of a country because it is linked to the agriculture industry of a country. The food processing industry plays a very important role in an agriculture-based economy, such as India, as it helps in the commercialization of farming and boosts the income of farmers. Growing investments in the food processing sector by private companies and the government will increase the demand for food processing machinery. The food processing industry in India is one of the biggest in the world.
For instance, the food processing industry in Indonesia is also growing significantly. Currently, 65% of the raw materials required by Indonesia's expanding food processing industry are imported. Exports of American agricultural goods to Indonesia rose by 9% in 2022, mostly owing to the country's rising appetite for cattle, dairy products, and soybeans. Thus, the growing investments in the food processing sector in developing economies in APAC will drive the growth of the market in focus during the forecast period.
Increasing focus on automated food processing equipment is an emerging trend shaping the market growth. Food processing companies prefer new processing technologies to increase production and improve efficiency. Hygiene and safety are some of the important factors that need to be considered during food processing, such as meat and poultry processing. Automation is one such solution that enhances hygiene and safety during meat and poultry processing. Additionally, automated systems equipped with cameras, sensors, and machine vision technology can quickly detect defects, irregularities, or contaminants in food products, ensuring that only high-quality items reach consumers.
In addition, automated systems are especially important in the fresh produce industry, where sorting machines can separate fruits and vegetables based on size, colour, and quality. Companies like TOMRA offer advanced sorting and inspection solutions. Therefore, the increasing adoption of food processing machines with automated features will drive the growth of the market during the forecast period.
Rising prices of raw materials used for the production of food processing machinery is a significant challenge hindering market growth. od processing machinery, such as meat processing machinery, is primarily made using stainless steel as the equipment is used for functions such as cutting, chopping, and grinding. Stainless steel is generally used due to its corrosion-resistant properties. In addition, stainless steel is also durable and compatible with temperature variations. These properties lower the maintenance cost associated with it, which is further beneficial for food manufacturers. As the machinery is primarily made of stainless steel, its production cost is highly dependent on the prices of steel. Fluctuations in steel prices may affect the cost of production of the food processing machinery.
Moreover, in the US prior to the COVID-19 epidemic in March 2020, steel costs ranged from USD 500 to USD 800. Steel now costs USD 1,800, a rise of more than 200% since July 2021. This rise in prices is estimated to negatively affect the consumers of steel, such as the food processing machinery manufacturers. Thus, the rising prices of raw materials used for the production of food processing machinery can become a major challenge to the growth of the market in focus during the forecast period.
The depositors segment is estimated to witness significant growth during the forecast period. In the food processing industries, depositing equipment is a relatively prevalent production line procedure. Without the depositing step, it is difficult to produce muffins and jellies or even garnish and decorate cakes. Depositing is a type of extrusion that is generally used to create dough pieces that will then be processed to make various food products.
Get a glance at the market contribution of various segments View the PDF Sample
The depositors segment was the largest segment and was valued at USD 16,128.45 million in 2018. For the manufacturing of wire cut and smooth mix-placed biscuits, the DLV and DV model cookie depositors are appropriate. While the DV is immediately attached to a tunnel oven band for high-capacity production, the DLV is a flexible and adaptable stand-alone equipment that can also create cakes and be used as a test machine. The DV3 co-extruder can concurrently deposit two different doughs and a third fluid filling. It is designed for the manufacturing of dual or tri-coloured filled biscuits and conventional favourites. The DV3 features GEA cutting-edge ILPS technology and servo-motor control for precision and dependability to guarantee reproducible depositing from every outlet and the ideal shape and weight for each biscuit. Therefore, the growing use of depositors in the different food processing industries will drive the growth of the market in the depositors segment during the forecast period.
Based on application, the market has been segmented into MP and S, bakery, dairy, and others. The MP and S segment will account for the largest share of this segment.? Some of the food processing equipment used for red meat are meat tenderizers, meat choppers and grinders, and electric meat saws and bone saws. In addition, the increased production of seafood can be attributed to the growing popularity of aquaculture. China is one of the biggest countries for aquaculture production. Moreover, all continents, that have the highest population growth are predicted to see an increase in the amount of fish consumed per person. According to FAO, global fish consumption is anticipated to increase from 20.4 kg in the base period of 2020 to 21.2 kg per person by 2032. Therefore, such factors are expected to drive the growth of the meat, poultry, and seafood segments in the market during the forecast period.
For more insights on the market share of various regions Download PDF Sample now!
APAC is estimated to contribute 55% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. APAC covers a wide range of countries, including China, India, Japan, South Korea, and Australia. APAC is a rapidly growing region due to population growth, urbanization, and increasing disposable incomes, driving the demand for processed foods and machinery, thereby contributing to the growth of the regional food processing machinery market. China is the world's largest exporter, importer, and consumer of seafood. The People's Republic of China (PRC) produced 66.9 million metric tons (MMT) of seafood in 2021, which increased to 67.5 MMT in 2022, maintaining its position as the world's top producer of seafood. Aquaculture production, which climbed by 1.2% to 54.6 MMT in 2022, will continue to fuel production growth.
Furthermore, the high consumption of dairy products in China will increase the demand for dairy processing machinery. According to the most recent projections made by the USDA in July, China milk production will rise to 41 Mt in 2023, up 4.6% from 2022. In China, WMP output is anticipated to rise to roughly 1.12 Mt owing to rapid domestic milk production development. Thus, the growing seafood and dairy industry in the country is expected to drive the growth of the regional food processing machinery market during the forecast period.
The COVID-19 pandemic adversely affected the growth of several industries, including the food processing industry in the region. However, the lockdown restrictions were lifted in the second half of 2020 owing to large-scale vaccination drives across APAC. This resulted in the resumption of the operations of essential businesses, such as food processing, which led to a gradual recovery of the regional food processing machinery market during 2021-2022. In addition, the packaged food industry in the region is expected to grow significantly owing to increasing demand for convenience food. This will further drive the growth of the regional food processing machinery market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Alfa Laval AB - The company offers food processing machinery such as speed low acid aseptic filler, Rotary Jet Mixer, Hybrid Powder Mixer
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Alfa Laval AB, ANKO Food Machine Co. Ltd., Bigtem Makine A.S., Bucher Industries AG, Buhler AG, Duravant LLC, FENCO Food Machinery s.r.l., GEA Group AG, Hosokawa Micron Corp., Illinois Tool Works Inc., John Bean Technologies Corp., Krones AG, LEHUI, Marel Group, Nichimo Co. Ltd., SPX FLOW Inc., Tetra Laval SA, The Middleby Corp., TNA Australia Pty Ltd., and Tomra Systems ASA
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report encompasses the entire market adoption cycle, ranging from the initial innovator phase to the subsequent laggard stage. It emphasizes adoption rates across various regions, determined by penetration levels. Additionally, the report outlines essential purchasing factors and factors influencing price sensitivity. This aids companies in assessing and formulating effective growth strategies.
Global Food Processing Machinery Market Customer Landscape
The food processing machinery market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
|
Food Processing Machinery Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
180 |
|
Base year |
2023 |
|
Historic period |
2018-2022 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 6.49% |
|
Market Growth 2024-2028 |
USD 22,086.71 million |
|
Market structure |
Fragmented |
|
YoY growth 2023-2024(%) |
5.45 |
|
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
|
Performing market contribution |
APAC at 55% |
|
Key countries |
US, China, South Korea, Germany, and UK |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
Alfa Laval AB, ANKO Food Machine Co. Ltd., Bigtem Makine A.S., Bucher Industries AG, Buhler AG, Duravant LLC, FENCO Food Machinery s.r.l., GEA Group AG, Hosokawa Micron Corp., Illinois Tool Works Inc., John Bean Technologies Corp., Krones AG, LEHUI, Marel Group, Nichimo Co. Ltd., SPX FLOW Inc., Tetra Laval SA, The Middleby Corp., TNA Australia Pty Ltd., and Tomra Systems ASA |
|
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, and Market condition analysis for the forecast period. |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Certified ISO 9001 : 2015
We are ISO 9001:2015 recognized that ensures quality services and product delivery to our clients.
We are GDPR and CCPA compliant! Your transaction & personal information is protected from unauthorized use.
Get lifetime access to our
Technavio Insights
Get the report (PDF) sent to your email within minutes.
