PUBLISHER: The Business Research Company | PRODUCT CODE: 1387579
PUBLISHER: The Business Research Company | PRODUCT CODE: 1387579
“Food Product Machinery Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on food product machinery market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for food product machinery? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The food product machinery market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Food product machinery encompasses a broad range of components, processing equipment, and systems utilized in the handling, preparation, storage, cooking, and packaging of food and food products.
Key categories of food production machinery include machinery and equipment for dairy product plants, bakery machinery and equipment, machinery for meat and poultry processing and preparation, as well as other types of food production machinery. Dairy product plant machinery and equipment are specifically designed for the processing of dairy products and consist of various machines such as depositors, extruding machines, mixers, refrigerators, slicers, dicers, and other related equipment. These machines come in different capacities, including small, medium, and large, and they can be operated autonomously, semi-autonomously, or manually.
The food product machinery market research report is one of a series of new reports from The Business Research Company that provides food product machinery market statistics, including food product machinery industry global market size, regional shares, competitors with a food product machinery market share, detailed food product machinery market segments, market trends and opportunities, and any further data you may need to thrive in the food product machinery industry. This food product machinery market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The food product machinery market size has grown strongly in recent years. It will grow from $39.82 billion in 2023 to $42.73 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth observed in the historical period can be attributed to factors such as the expansion of the food processing industry, increased emphasis on hygiene and safety standards, rising consumer demand for convenience, and the globalization of food supply chains.
The food product machinery market size is expected to see strong growth in the next few years. It will grow to $55.85 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth expected in the forecast period can be attributed to several factors, including the adoption of sustainability and eco-friendly machinery, integration with Industry 4.0 technologies, the demand for customization and flexibility, increasing digitalization and remote monitoring capabilities, and expanding into global markets. Major trends in this period include the use of automation and robotics, a focus on clean label and natural ingredients, the implementation of smart packaging solutions, efforts to reduce waste and improve energy efficiency, and the emergence of personalized food processing solutions.
The expanding scope of the food and beverage industry is anticipated to be a driving force behind the growth of the food product machinery market in the future. This industry encompasses all the businesses engaged in processing, packaging, and distributing raw food materials and converting them into consumer food products. Food product machinery plays a crucial role in enhancing efficiency, consistency, and safety in food and beverage production, contributing to the wide array of products available to consumers in the market. For instance, a report from Agriculture and Agri-Food Canada, a government agency based in Canada, indicated that the retail sales value of fortified or functional foods and beverages in the United States increased to $68.9 billion in 2021, compared to $67.9 billion in 2020, with projections to reach $79.1 billion in 2025, marking a 3.5% increase compared to 2021. Therefore, the expanding scope of the food and beverage industry is expected to drive the growth of the food product machinery market.
The growth of the food product machinery manufacturing market is supported by the expectation of stable economic growth in many developed and developing countries. For example, the International Monetary Fund (IMF) has projected global GDP growth rates of 3.3% in 2020 and 3.4% in 2021. Additionally, the anticipated recovery in commodity prices, following a significant decline in the historical period, is likely to contribute to market growth. Developed economies are also predicted to experience steady growth during the forecast period. Furthermore, emerging markets are expected to maintain slightly faster growth rates compared to developed markets in the forecast period. This stable economic growth is anticipated to boost investments in the end-user markets, thereby driving the food product machinery manufacturing market during the forecast period.
The COVID-19 outbreak had a significant adverse impact on the food product machinery manufacturing market in 2020. The disruptions in global supply chains resulting from trade restrictions and the reduced consumption due to government-imposed lockdowns had a restraining effect. COVID-19, an infectious disease with symptoms like fever, cough, and breathing difficulties, was first identified in Wuhan, China, in 2019 and rapidly spread worldwide, affecting regions including Western Europe, North America, and Asia. Manufacturers rely on a steady supply of raw materials from both domestic and international sources, and the limitations on the movement of goods imposed by various governments led to production stoppages due to raw material shortages. The repercussions of the outbreak are expected to continue affecting businesses throughout 2020 and into 2021. However, it is anticipated that the food product machinery manufacturing market will rebound from this impact during the forecast period. The outbreak is considered a 'black swan event' and is not associated with ongoing or fundamental weaknesses in the market or the global economy.
Prominent companies in the food product machinery market are placing a strong emphasis on innovation to remain competitive. They are introducing advanced food processing machines like the CutMaster Generation 3, which utilizes AC technology to process sausages, poultry, fish, and plant-based food products. A case in point is GEA Group AG, a Germany-based manufacturer of food processing systems and components. In May 2022, GEA introduced the latest iteration of the CutMaster, specifically designed for the preparation of various food products, including sausages, poultry, fish, plant-based, vegan, and vegetarian items, as well as processed cheese. The upgraded system incorporates multiple technological enhancements driven by customer needs, such as integrated AC drives, to enhance the machine's flexibility, reliability, hygiene, and overall lifespan. This innovation aims to give companies a competitive edge in the food product machinery market.
Manufacturers of bakery machinery and equipment have introduced advanced continuous baking ovens to enhance production efficiency and maintain consistent product quality. Unlike traditional batch ovens, continuous baking ovens allow for a continuous cooking or baking process, ensuring consistent operations. These ovens are versatile and can be used for various cooking methods, including high-temperature cooking, impingement, convection, super-heated vapor, linear, or spiral cooking. Continuous baking ovens offer benefits such as faster bake times, increased throughput, precise control over the cooking process, improved product quality consistency, and reduced product wastage when compared to conventional batch ovens. Furthermore, they lead to reduced labor costs and can result in energy savings of up to 15%.
Major companies operating in the food product machinery market include Tetra Laval International S.A., Krones AG, GEA Group, Buhler Group, The Middleby Corporation, JBT Corporation, Dover Corporation, Illinois Tool Works Inc., CIMC Enric Holdings Limited, Sumitomo Heavy Industries., Alfa Laval AB, Marel hf., SPX Flow Inc., Urschel Laboratories Inc., Stoelting Foodservice Equipment, Idaho Steel Products, Anko Food Machine Co. Ltd., Heat and Control Inc., Paul Mueller Company, Key Technology Inc., Sidel Group, Ishida Co. Ltd., Tomra Systems ASA, Meyer Industries Inc., FMC Corporation, KHS GmbH, Rheon Automatic Machinery Co. Ltd., Grote Company, Heat Exchange and Transfer Inc., Atlas Pacific Engineering Company Inc., FPEC Corporation, Lyco Manufacturing Inc., Reading Bakery Systems, Satake USA Inc.
Western Europe was the largest region in the food product machinery market in 2023. The Asia-Pacific was the second largest region. The regions covered in the food product machinery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the food product machinery market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa
The food product machinery market consists of sales of roll crushers, jaw crushers, pressure mills, impact mills, strainers/pulpers, and attrition mills. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.