Food Processing equipment is a complicated and multi-dimensional market consisting of all of the apparatus and tools utilized as part of commercial enterprise sustenance creation. the size of the market may be envisioned via considering the frequently expanding sustenance objects. The market is fragile to few elements, for example, the kind of foods added and the coping with approach applied. Processed food gives positives like enhanced taste, improved shelf life, low danger of infection and easy portability.
Global Market was worth USD 57.57 billion in 2018 and estimated to be growing at a CAGR of 7.3%, to reach USD 81.88 billion by 2023. Food processing equipment performs various operations like shredding or grating cheese or vegetables, pureeing, mixing and kneading dough, slicing vegetables, grinding items such as nuts, seeds and others. They can also perform functions like fermentation, refrigeration, pasteurization, and freezing, dehydration, canning and irradiation.
Drivers and Restraints:
The Global market is driven by factors like ever rising demand for food as a result of increasing population, increasing demand for processed foods, rising disposable incomes, dynamic consumer preferences towards packaged foods as a result of increased awareness about their benefits. Even though, this market faces certain hurdles as consumers are concerned about the loss of nutrients as the food is being processed, addition of genetically engineered ingredients.
On the basis of geography, the global market has been partitioned into various regions like North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa. In the worldwide market, Europe dominates the market with a share of around 40% and has second largest growth rate followed by the Asia-Pacific region. Asia-Pacific region is the fastest growing industry owing to increasing populations in countries like China and India.
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The key players in the market are Anko Food Machine Co. Ltd., Berkshire Hathaway Inc., Bucher Industries, John Bean Technologies Corporation (JBT), Hosokawa Micron Corp., GEA Group, Mallet & Company, Inc., NICHIMO CO., LTD., SPX Corporation, and Tetra Laval International S.A.
Scope of the report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
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