(I-BusinessNews.Com, June 30, 2021 ) The Food Processing and Handling Equipment Market size is forecast to reach $210.7 billion by 2026, growing at a CAGR of 6.49% during the forecast period 2021-2026. Food processing equipment’s aid in the commercial production of food products by using different components such as processing machines and systems for product handling, preparation, cooking, preservation and packaging. The equipment’s are employed into various applications such as bakery goods, beverages and dairy products. The growing urbanisation with changing lifestyle trends is shifting the demographic preference towards convenience food which is driving the growth of the market. Along with that, rising concern towards food safety is increasing the adoption of advanced technology to provide the consumers with hygienic and safe processed food which is set to further enhance the growth of overall market for the Food Processing and Handling Equipment Market during the forecast period 2021-2026.
Food Processing and Handling Equipment Market Segment Analysis – By Product
The Processing equipment segment held the largest share in the Food Processing and Handling Equipment in 2020 and is estimated to grow at a CAGR of 7.19% during the forecast period 2021-2026. The processing equipment have surged their demand in large scale food production factories. It is a very important component used for transforming the agriculture produce to processed food. It basically ranges from all-purpose devices such as mixers, tables and tumblers to specific machinery. The most popularly used material in processing equipment’s is the corrosion resistant metal as they provide great strength and durability to the machinery. The increasing demand for automation is also driving the processing equipment segment. Also, consumers has started opting for processing equipment for home purpose, as these devices helps in reducing the cooking time and as consumer concern towards food safety is increasing the upcoming of new technologies are helping the food manufacturers to maintain the proper sanitation conditions which is also driving the growth of the segment. Processing Equipment is set to be the highest growing segment and is estimated to register the highest CAGR during the forecast period 2021-2026.
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Food Processing and Handling Equipment Market Segment Analysis – By Application Type
The Bakery and Confectionary segment held the largest share in the Food Processing and Handling Equipment in 2020. Bakery and confectionary are included in processed food category which includes cakes, pastries, biscuits, breads, breakfast and other cereals. The increasing consumption trends of bakery products in the emerging markets is driving the growth towards Food Processing and Handling Equipment. Commercial bakery and sugar confectionary are consumed by different demographics and income class which is increasing the demand for processing equipment’s. Additionally, innovative packaging of bakery products has surged their demand towards gifting purpose is also driving the market for Food Processing and Handling Equipment. Bakery and Confectionary segment is set to be the highest growing segment and is estimated to register the highest CAGR during the forecast period 2021-2026.
Food Processing and Handling Equipment Market Segment Analysis – By Geography
Europe is anticipated to dominate the Food Processing and Handling Equipment in 2020 with a share of 37.30% followed by Asia-Pacific, owing to the rising adoption of ultra-processed food along with increasing funding from European Union towards High-tech innovative technologies in production of food processing products. Increasing use of robotic machine in regions such as Germany and other European countries is also driving the market towards growth. Moreover, increasing demand for bakery and confectionary products by the Western European regions is further driving the market towards growth.
However, Asia-Pacific is set to be the fastest growing CAGR during the forecast period 2021-2026 owing to various factors such as increasing surge in demand for convenience food products and rapid adoption of new manufacturing technologies in processed food segment is driving the emerging market towards growth. Also, in countries like China and India, the surge in domestic demand for food products and increasing government support is resulting in the implementation of automated equipment’s in the food processing plants. This is reducing the human intervention and is further boosting the production of high-quality consistent product thereby driving the growth of the market.
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Food Processing and Handling Equipment Market Drivers
Increasing consumer concern towards food safety
The shifting consumer preference towards convenience food is thereby leading to rise in health concerns from these products is a driving factor for this market. Globally, food processing is a major industry which requires to maintain high quality food hygiene standards. With the impact of covid-19, the demand for manufacturing equipment’s and fallen down owing to economic instability for this reason government across globe have started funding and amending food policies to improve the quality standards of processed food. Moreover, the demand is also increasing for minimally processed food products is further increasing the need for sustainable technologies which can meet the growing demand. Thus, increasing the growth of the Food Processing and Handling Equipment during the forecast period 2021-2026.
Technological advancement is transforming the Food Processing and Handling Equipment
The increasing demand for robotics and internet of thing is driving the quality and affordability of the food processing equipment’s. The introduction of these new technologies is further helping the manufacturers in increasing the productivity with increased shelf life of food products. Additionally, use of robots is also reducing the factory-based injuries and is also improving the safety standards of the food production. Thus, increasing the growth of the Food Processing and Handling Equipment during the forecast period 2021-2026.
Food Processing and Handling Equipment Market Challenges
Stringent safety standards and high maintenance cost of the equipment’s
Some of the factors that are set to impede the growth of the Food Processing and Handling Equipment includes the stringent governmental regulations on maintaining food safety and hygiene standards along with the higher maintenance cost of the new technologies hinders the market growth for the Food Processing and Handling Equipment.
Food Processing and Handling Equipment Industry Outlook
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Food Processing and Handling Equipment Market. In 2020, the Food Processing and Handling Equipment Market share is consolidated by the top ten players present in the market. Food Processing and Handling Equipment Market, the top 10 companies are SPX Corporation, Berkshire Hathaway Inc., Anko Food Machine Co. Ltd., John Bean Technologies, Bucher industries, GEA, Hosokawa, Nichimo, Mallet & Company, Tetra Laval International SA.
Acquisitions/Product Launches
In Jun. 2020, GEA Group has launched new technology White Bloc Filling System Aero. The technology will augment the bottling process of beverages in order to extend their shelf life. The technology is designed with aseptic filling features which will handle the entire process from raw material reception to final bottling and palletization.
Key Takeaways
Europe is anticipated to dominate the Food Processing and Handling Equipment in 2020 owing to increasing adoption of automated technologies by manufacturers and shifting consumption trends towards ready to eat food products. The Food Processing and Handling Equipment scope for different regions will be provided in the final report.
The rising consumer food safety concern is increasing the government initiatives towards adopting strategies to enhance the food hygiene which is likely to aid in the market growth of the Food Processing and Handling Equipment Market.
Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Food Processing and Handling Equipment Market.
The high maintenance cost of the upcoming new technologies is poised to create hurdles for the Food Processing and Handling Equipment Market.
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