Food processing machinery: Key market research findings
- Rising demand for packaged and processed foods propels market growth
- Meat, poultry, and seafood account for a majority of the market’s revenue
- Key vendors – Anko Food Machine, Buhler, GEA, Krones, and Tetra Laval
Technavio’s market research analysts predict the global market for food packaging machinery to grow at a CAGR of around 8% between 2016 and 2020. The growth of this market is driven by the increasing demand for packaged and processed food across the globe. Improvements in economic conditions in developed countries and an increase in disposable income in developing countries such as China, India, and Saudi Arabia are triggering an increase in the demand for processed and packaged food. Furthermore, hectic lifestyles and busy work schedules of the populace also augment the preference for packaged foods and beverages worldwide owing to the convenience it offers. During 2015, APAC accounted for about 44% of the overall market share to become the dominant shareholder in the global food processing machinery market. The market in this region will flourish during the forecast period owing to the increased demand for processed foods in developing nations such as China and India.
The new market research report from Technavio presents a breakdown and analysis of the food processing machinery segments based on the application.
“The market is currently witnessing an upsurge in the demand for HPP technology. HPP technology can eliminate micro-organisms in food products without eliminating nutrients, color, or flavor by subjecting them to pressures ranging from 60,000 psi to 87,000 psi. This process helps preserve the natural freshness of food products. This technology can be implemented in a batch, semi-continuous, or continuous process,” says Sharan Raj, Lead Analyst, Transportation & Logistics, Technavio Research.
The meat, poultry, and seafood segment accounted for a market share of about 40% in 2015 to become the primary revenue generating segment in the global food processing machinery market. Meat processing machinery includes cutters, blenders, tenderizing machinery, grinding machinery, smoking machines, filling machines, and dicing machines. The demand for meat processing machinery is spurred by a rise in the consumption of processed foods, which includes protein-rich meat products, and increasing concerns regarding food safety.
The key vendors in the global food processing machinery market include Anko Food Machine, Buhler, GEA, Krones, and Tetra Laval. Vendors in the market compete based on the product performance, after-sales service, price, and technical innovation. They exert strong control over prices as there is no direct substitute for these types of equipment. The competitive environment is expected to intensify over the forecast period as a result of a rise in product extensions, technological innovations, and M&A activities.
A more detailed analysis is available in the Technavio report, Global Food Processing Machinery Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
