The food processing equipment market is anticipated to be valued at US$ 48.58 billion by 2024. The market valuation is expected to be US$ 74.66 billion by 2034, projected at a CAGR of 4.4%. Driven by the surge in demand for processed food products, technological advancements, and uproar investments in the food and beverage industry, the market witnesses steady growth.
Automation and integration of IoT technologies enhance efficiency and productivity, catering to the growing need for convenience and quality in food production processes. The significant upfront investment required for purchasing and maintaining equipment can deter small and medium-sized enterprises (SMEs) and startups from entering the market.
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Compliance with strict food safety and hygiene regulations adds complexity and costs to developing and operating food processing equipment. Despite these challenges, the market presents significant expansion opportunities, particularly in emerging markets. Rapid urbanization, increasing disposable incomes, and changing consumer preferences drive demand in regions like China and India.
Key Takeaways from the Market Study
- Based on automation type, the automatic segment is accounted to hold a market share of 35.4% in 2024.
- The United States is expected to register at a CAGR of 1.8% by 2034.
- Germany registers significant growth, projected at a CAGR of 1.3% by 2034.
- Based on application, the peeling and slicing segment is accounted to hold a market share of 20.1% in 2024.
“The rise in consumer demands helps them to lean towards convenient and instantly consumable food choices, where food manufacturers face mounting pressure to expand their production capacities while ensuring top-notch product quality and safety standards. This trend has spurred a surge in the food processing equipment marketTop of Form,” comments a Future Market Insights analyst.
Competitive Landscape
Lucrative key companies leverage extensive product portfolios, technological expertise, and strong distribution networks to maintain their leading positions amidst growing competition and market dynamics.
Some of the key developments are:
- In April 2023, Krones acquired 90% ownership of Ampco Pumps Company LLC, fortifying its components business within Krones Processing. This strategic move complemented its existing portfolio, now encompassing Ampco Pumps and Evoguard Valve Technology, thus offering comprehensive solutions for the processing technology market.
- In April 2023, Marel acquired the operating assets of E+V Technology, a leading player in food processing equipment. This strategic integration enhances Marel’s presence in the meat and poultry sectors by incorporating cutting-edge vision technology into its solutions.
Key Companies Profiled
- Tetra Pak
- Hoshizaki Corp
- Gea Group
- Alfa Laval
- Krones
- Middleby
- Buhler
- Marel
- Atlas Pacific Engineering Company Inc.
- Welbilt Inc.
- Dover
- Rational AG
More Valuable Insights Available
Future Market Insights offers an unbiased global food processing equipment market analysis, providing historical data from 2019 to 2023 and forecast statistics from 2024 to 2034
To understand market opportunities, the food processing equipment market is segmented based on Automation Type (Automatic, Semi-Automatic, Manual), Application (Storage Tank, Chiller, Pasteurizer, Filters, CIP Unit, Cream Separators, Spray Dryer, Homogenizer, Batch Collectors & Feeders, Pulverizing and Mixing, Fermenting, Peeling and Slicing, Others), and Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and the Middle East and Africa).
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Key Segments
By Automation Type:
- Automatic
- Semi-Automatic
- Manual
By Application:
- Storage Tank
- Chiller
- Pasteurizer
- Filters
- CIP Unit
- Cream Separators
- Spray Dryer
- Homogenizer
- Batch Collectors & Feeders
- Pulverizing and Mixing
- Fermenting
- Peeling and Slicing
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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