Food Processing Machinery Market 2031 Business Strategies with Major Key Players | GEA Group, SPX Corporation
Food Processing Machinery Market by Type, Application, Mode of Operation: Global Opportunity Analysis and Industry Forecast, 2020-2031
PORTLAND, OR, USA, July 23, 2022 /EINPresswire.com/ — The consumption of processed foods has exploded over the past few decades around the world. The expanding world population is a major contributor to this growth. According to the United Nations Department of Economic and Social Affairs, the world’s population reached 7.3 billion in 2015 and is expected to reach 9.7 billion by 2050. As a result, consumers in metropolitan areas have access to a significantly greater range food options and greater food availability than those in rural areas. This trend towards urbanization contributes significantly to higher living standards and higher wages, which in turn has a stronger impact on the affordability of processed food products. Such a development will lead to food processing machinery market within the planned period.
According to Verified Market Research, Global Food Processing Machinery Market was valued at USD 61,249 Million in 2020 and is projected to reach USD 93,737.1 Million by 2031, growing at a CAGR of 3.9% from 2022 to 2031.
The COVID-19 outbreak has created significant medical, societal and economic issues. The medical community is focused on developing effective methods of diagnosis and medical treatment. During this pandemic, food and beverage processing equipment manufacturers are focusing on providing a diverse selection of products to ensure hygienic and shelf-stable packaged foods in disease prevention.
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Although technical developments, such as reduction in energy consumption and generation of waste, encourage the increase in sales of food processing machinery, the implementation of strict rules on food processing machinery issued by government organizations may hinder the expansion of the food processing machinery market in the long term.
Due to the rapidly changing lifestyles of people around the world, the demand for processed foods has skyrocketed. As a result, food processing companies have upgraded their machines to provide high processing capacity to meet the increased demand. Additionally, manufacturers have prioritized consumer needs while adhering to global quality standards. Additionally, the market is driven by an increase in food processing machinery market opportunities and expanded the market globally.
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The food processing machinery market analysis is segmented on the basis of type, application, mode of operation and region. Based on type, it is classified into depositors, extruders, mixers, refrigeration, slicers and dice, and others (cutting machines, dispensers and ovens). By application, it is classified into bakery and confectionery, meat, poultry and seafood, dairy products, beverages and other (cereals, fruits, nuts and vegetables). Based on the mode of operation, it is divided into semi-automatic and fully automatic. By region, it is analyzed across North America, Europe, Asia-Pacific and LAMEA.
Major market players profiled in the report are Anko Food Machine Co. Ltd., Atlas Pacific Engineering Co. Inc., Berkshire Hathaway Inc., Bucher Industries, Mallet & Co. Inc., Nichimo Co. Ltd., Spx Corp. , Ziemann International GmbH, AFE Group Ltd., Bean (John) Technologies Corp., BMA Group, Heat and Control Inc., Hosokawa Micron Corp. and Meyer Industries Inc.
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KEY FINDINGS OF THE STUDY
Europe is expected to dominate the market over the forecast period, followed by Asia-Pacific.
The extrusion machinery segment is expected to show the highest growth rate, registering a CAGR of 5.9% from 2022 to 2031.
The bakery and confectionery segment is expected to grow at a higher rate of 5.1% during the forecast period.
Germany accounted for 26.45% share, in terms of revenue, in the European market, in 2020.
India is expected to grow at the highest CAGR of 5.8%.
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