Fast food need and the requirement for automated makers to move development in food processing equipment
Wilmington, Delaware, United States, June 12, 2023 (WORLD NEWSWIRE) — Transparency Market Research Inc. – TMR forecasts that food processing equipment’s market price reached US$ 47.8 billion by 2022. It is approximated to grow at a CAGR of 5.7% from 2023 to 2031. The market is anticipated to reach US$ 69.2 billion by the end of 2031.
Over the previous number of years, engineers have actually ended up being significantly popular in the food market. There is a lot of variety and intricacy in the food processing market. A more advanced and requiring customer market is continuously driving procedure development. Consumers are anticipating development, extraordinary worth, enjoyment, and stability of an item.
Globally, businesses are looking for methods to minimize production costs due to increased production expenses and inflation. A great deal of the business associated with the food and drinks market are doing their finest to minimize expenses while keeping quality high.
With the growing pattern of plant-based diet plans, conventional food-processing equipment that was initially developed to deal with meat will be making more advances. The metropolitan population is growing and as busy way of lives end up being more popular, benefit foods with sanitary active ingredients might end up being more popular. There is a possibility that these aspects might drive the development of the food processing equipment market.
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Market Snapshot:
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Report Coverage |
Details |
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Market Revenue |
US$ 47.8 Bn |
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Estimated Value |
US$ 69.2 Bn |
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Growth Rate – CAGR |
5.7% |
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Forecast Period |
2023-2031 |
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No. of Pages |
145 Pages |
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Market Segmentation |
Equipment Type, Mode of Operation, Application, Distribution Channel |
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Regions Covered |
North America, Europe, Asia Pacific, Middle East & Africa, South America |
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Companies Covered |
Alfa Laval AB, BAADER, Buhler AG, Dover Corporation, GEA Group AG, Hobart, JBT, Krones AG, Marel, Tetra Laval International S.A. |
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Key Findings of Market Report
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Global Food Processing Equipment Market: Growth Drivers
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An increase in need for processed food and the intro of junk food brand names will cause a boost in food processing equipment need. Increasing spending on research study and advancement and food processing innovations is most likely to sustain the development of the food processing and managing equipment market.
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As advanced innovations end up being more typical, automation is driving the need for such innovations need for food processing equipment will grow in the market. IoT and AI innovations integrated with robotics in making centers will drive food processing equipment sales.
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The usage of dairy items throughout numerous areas will likely increase need for this equipment in the future. As family pet adoption and need for family pet food continue to grow, there is a great chance that the marketplace for food processing equipment will grow. As health awareness and dietary patterns grow the marketplace is anticipated to grow.
Global Food Processing Equipment Market: Regional Landscape
Global Food Processing Equipment Market: Key Players
Globally, a number of big makers control the food processing equipment market. Leading makers invest greatly in research study and advancement, broaden their items, and get other business. According to market analysis, leading gamers in the food processing equipment market focus mostly on item advancement.
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In May 2023, Batesville-based Hillenbrand Inc. revealed that it will purchase Schenck Process’ Food and Performance Materials business, or FPM, for $730 million. In addition to creating, making, and maintenance food processing equipment, FPM uses 1,300 individuals worldwide.
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In June 2023, Tauber-Arons Inc., a commercial auction business, will be performing a timed online auction of late design equipment for the manufacture and product packaging of family pet foods. Pet food businesses have the chance to get cutting edge equipment throughout the auction. Fillers, robotics, palletizers, sleeve makers, and other properties lie in Emporia, Kansas. Manufacturing and product packaging equipment for family pet food represents advanced innovation.
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Global Food Processing Equipment Market: Segmentation
Equipment Type
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Preparation Equipment
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Mechanical Processing Equipment
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Heat Processing Equipment
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Preservation Equipment
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Others (Packaging Equipment, and so on)
Mode of Operation
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Automatic
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Semi-automated
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Manual
Application
Distribution Channel
Regions
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North America
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Europe
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Asia Pacific
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Middle East & Africa
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South America
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