LOS ANGELES, Feb. 13, 2019 (GLOBE NEWSWIRE) -- Global food processing equipment market is growing because of changing taste and preferences of consumers, rising disposable income, and easy availability of raw materials. Key players are concentrating on the enhancement of the existing products and launching of the new and innovative products which is creating a positive impact on the global market for food processing equipment throughout the projected period.
According to the latest report compiled by QY Research titled, " Global Food Processing Equipment Market Development and Forecast Report 2019 ", for the assessment period of 6-years, i.e., between 2019 and 2025, the global food processing equipment market was valued at US$ 51 Bn in 2018 and is likely to grow around US$ 87.8 Bn by 2025, with a robust CAGR of 7.0% during the forecasted period.
Global Food Processing Equipment Market: Drivers and Restraints
One of the significant reasons behind the robust growth of the market is the rising focus on dairy, meat, poultry, and seafood products across the globe. Rising awareness regarding the quality and safety of products and some other factors such as changing lifestyle, rising per capita income, growing population, and rising urbanization are expected to fuel the market growth in the coming years.
Rising awareness regarding the enormous harmful effects on the environment will push the manufacturers to adopt green energy equipment for making food. Another important trend is rapidly increasing focus of manufacturers towards highly automated and advanced equipment that saves both energy and time by providing high efficiency and speed. This influence the growth of the worldwide market for food processing equipment.
However, stringent regulations by the government are likely to create negative impact on the growth of the market during the projected period.
Global Food Processing Equipment Market: Segmental Analysis
The global food processing equipment is segmented into type and applications. The application segment is sub-segmented into restaurants and food Processing Plants.
On the basis of type, the food processing equipment market is segmented into Meat Processing Machinery, Frozen Food Processing Machinery, and Bakery & Pasta Processing Machinery.
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Global Food Processing Equipment Market: Competitive Landscape
Few manufacturers are dominating the market and are highly concentrated in the regions of Europe and North America.
Key companies operating into the global market for food processing equipment are SENON, GEA Group, Hebei XiaoJin, Buhler AG, Lehui, Marel, Wenger, Ali SpA, Briggs, JBT, Mallet & Company, Meyer Industries, Hosokawa Micron, Satake Corporation, Atlas Pacific Engineering, Haas, Baker Perkins, Heat and Control, MIWE, Baader Group, Pavan Srl, Bucher Industries, Key Technology, Rheon Automatic Machinery, Risco SpA, BMA, Tomra Systems, Sinmag Bakery Machine, Nichimo, and Mecatherm.
Global Food Processing Equipment Market: Geographical Outlook
Europe and North America are leading the food processing equipment market across the globe. The U.S. accounts for the largest market share due to safe and healthy products provided by the manufacturers to consumers that drive the growth of the market over the predicted period. The Asia Pacific region will also grow at a significant rate due to rising per capita income, growing number of working women, and increasing population.
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