APAC to Remain a Dominant Market for Food Processing Equipment in the Coming Years

Changing lifestyle and preferences of consumers towards packaged and processed food has led to the rise in demand for food processing equipment. Moreover, growing disposable income of people and availability of raw materials is also boosting the growth of the global market for food processing equipment.

Market overview

The global food processing equipment market is projected to be valued at USD 72.27 Billion by 2022, growing at a CAGR of around 7.0% during the forecast period from 2016 to 2022.

Based on type, the thermal equipment segment holds the largest market share, owing to the high demand for processed food, especially in countries like India and China in the Asia-Pacific region. Moreover, growth in industries such as dairy, bakery, and meat is also expected to boost the market growth.

On the basis of end-product form, the solid food products segment holds the largest market share, owing to the rising trend of fast food and convenience food across the globe. Based on mode of operation, the semi-automatic segment held a higher market share in 2015.

Among applications, meat & seafood is the fastest-growing segment in this market, owing to the increased demand due to rising population, changing lifestyles, increased disposable incomes, and high demand for convenience foods.

How is the market progressing, geographically?

The market for food processing equipment in Asia-Pacific held the largest share, and is also expected to witness the highest growth over the forecast period. The market in APAC is being majorly driven by the growth of the food & beverage industry, especially in emerging economies such as India and China. Among countries, China is projected to hold the largest market share, regionally as well as globally. Apart from these, changing lifestyle of the consumers due to the increased disposable income is also another factor contributing to the growth of this market.

What is driving and restraining the market growth?

The growth of the global market for food processing equipment is being primarily influenced by the following factors:

  • Growing demand for food processing in dairy, meat, poultry, and seafood applications
  • Growing concern of consumers regarding food safety
  • Rising demand and preference for processed and convenience foods
  • Demand for innovative food & beverage products owing to the changing consumer trends
  • Growing use of contract manufacturing services in the food & beverage industry

Apart from this, large consumer base in APAC countries and changing food preferences of people, growing awareness regarding new food products, and rising investments on R&D in food processing equipment are some more factors that are likely to create an array of growth opportunities.

On the flip side, rising costs of production due to the use of advanced technologies in processed equipment and growing demand for minimally processed, healthier organic food products.

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Major players and strategies adopted

GEA Group (Germany), ALFA LAVAL (Sweden), Bucher Industries (Switzerland), SPX Corporation (U.S.), and Krones AG (Germany) are the major players operating in the global market for food processing equipment. Other players in include Buhler AG (Switzerland), JBT Corporation (U.S.), Rexnord Corporation (U.S.), Marel (Iceland), and Fenco Food Machinery (Italy). These companies are adopting strategies such as new product launches, acquisitions, and expansions in order to witness sustained growth in the market.

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