Food & Beverage Processing Equipment Market Projected to Garner Significant Revenues by 2023

The report “Food & Beverage Processing Equipment Market by Type (Processing, Pre-Processing), Application (Bakery & Confectionery, Meat & Poultry, Dairy, Alcoholic & Non-Alcoholic Beverages), Mode of Operation, End-Product Form, and Region – Global Forecast to 2023″, The food & beverage processing equipment market is estimated at USD 55.43 billion in 2018 and is projected to reach a value of USD 74.44 billion by 2023, at a CAGR of 6.1%. The market is driven by factors such as the rise in demand for meat, poultry, dairy, bakery, and confectionery products; growth in demand for processed and convenience food; increase in focus on production efficiency, processing time, and quality of food products; and rise in demand for innovative food & beverage products due to changing consumer trends.

Browse 75 market data Tables and 47 Figures spread through 169 Pages and in-depth TOC on “Food & Beverage Processing Equipment Market – Global Forecast to 2023”.

On the basis of mode of operation, the global market is segmented into automatic and semi-automatic. The semi-automatic segment accounted for the larger market share in 2017. Unlike fully automatic equipment that require high capital investment, semi-automatic equipment enable small- and medium-scale manufacturers to support high yield with consistent quality, without compromising on the production efficiency. The process consumes less energy compared to fully automated equipment and provides manufacturers with limited capital capacity and a cost-effective solution. These factors have led to the tremendous growth of the concerned market globally.

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On the basis of end-product form, the solid segment accounted for a larger market share in 2017, followed by liquid segment. The solid form is providing food manufacturers with easy handling and packaging of end products. The consumption of processed food in the solid form is driven by the fast food and convenience food trend across the globe, with the changing lifestyles in developing and developed countries. Due to these factors, the market for the processing equipment used for the solid form of food & beverages accounted for the larger share.

The Asia Pacific region is projected to be the fastest-growing market. The growth of Asia Pacific region is due to the demand from the processed foods industry. The food processing sectors in countries such as China, India, Australia, and New Zealand are export-oriented, and the processing sector is of prime importance in these countries as players are focusing on technology adoption and automation. Also, the region is expected to experience a sharp rise in the demand for advanced food processing machinery that helps reduce processing time and enhance the efficiency of manufacturing operations. The expected growth in the number of food processing units in this region is further projected to boost the supply and consumption of food & beverage processing equipment.

The major restraining factor for the food & beverage processing equipment market is the rising costs of production due to increasing energy & labor costs and growing demand for organic & fresh food products. Equipment such as homogenizers, heaters, and ovens used in the food & beverage processing industry consume significantly high energy and power. Automatic equipment are considered to be advanced, but need uninterrupted electric supply to function efficiently, leading to higher energy bills. In developed countries such as the US, Germany, the UK, and France, the demand for new foods among consumers, changes in their eating habits, and food safety risks are affecting the food processing industry. The rise in aging population in developed countries has led to growing health concerns, owing to which they prefer fresh and organic food products with no synthetic ingredients used. These factors are expected to restrict the growth of the market in the long run.

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Companies such as Marel (Iceland), GEA Group (Germany), Bühler (Switzerland), JBT Corporation (US), and Alfa Laval (Sweden) have acquired a leading market position through the provision of a broad product portfolio, along with a focus on diverse end-user segments.

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