Food Processing Equipment Industry Report 2023

• Previous
• Next

Food Processing Equipment Industry Report 2023: Global Market to Reach $98.57 Billion by 2030, Driven by Increasing Demand for Processed Foods and Worker Safety
The food processing equipment market is projected to reach $98.57 billion by 2030, at a CAGR of 5.8% during the forecast period 2023-2030.       The report provides an in-depth analysis of the global food processing equipment market across five major regions, emphasizing the current market trends, market sizes, recent developments, and forecasts till 2030.

The growth of the food processing equipment market is driven by increasing demand for processed foods, a growing focus on food and worker safety, a growing need to increase productivity, food manufacturers' increasing focus on reducing production costs, and government support to promote the food processing industry.       However, the high cost of equipment and the consumers' increasing inclination towards minimally processed food products restrain the growth of this market.

In addition, emerging economies such as Latin America, Southeast Asia, and Africa and a rapidly growing plant-based foods market are expected to generate growth opportunities for the players operating in this market.       However, the lack of trained labor is a major challenge for market growth.

In 2023, the meat, poultry, and seafood processing equipment segment is expected to account for the largest share of the global food processing equipment market.       The large share of this segment is attributed to growing meat production, high demand for processed meat products, growing focus on food safety requirements of meat processors, and consumer preference for protein-rich food products.

In 2023, the semi-automatic segment is expected to account for the largest share of the global food processing equipment market.       The segment's large share is
attributed to the benefits of semi-automatic food processing equipment, such as greatly improved labor productivity, flexibility in production processes, and technical & economic feasibility.
Asia-Pacific is slated to register the highest CAGR during the forecast period, mainly due to tremendous growth in its food & beverage industry, primarily due to increasing urbanization, growing health awareness, and rising disposable income levels.