New York, Oct. 08, 2019 (GLOBE NEWSWIRE) — The Increasing demand for food with the increase in population, high demand from companies for the equipment’s to meet the large demand, increasing disposable income of the people in the society are key factors contributing to high CAGR of Food & Beverage Processing Equipment during forecast period.
According to the current analysis of Reports and Data, the global Food & Beverage Processing Equipment market was valued at USD 54.9 Billion in 2018 and is expected to reach USD 88.6 Billion by year 2026, at a CAGR of 6.2%. The Food & Beverages is one of the leading high growth perspective industry currently today. The demand for food & Beverages is increasingly drastically as the population base of the world is rising with each day count.
The Food & Beverages products applications are wide from dairy products to bakery products and beverages. The demand for each sector has growth in some or form or other as the way the consumption factor is huge. Also, there different forms food & Beverages. Considering all these factors the food & Beverages equipment’s are manufactured. The very foundation for food & beverages industry depends upon the equipment’s used. The equipment’s are involved right from handling, preparing, cooking, storing, till the packaging of food. The work done involves during the processing involves washing, separating, mixing, baking, freezing, sealing etc. The Efficiency in the work done is important as the whole demand for the Food & Beverages depends upon it.
Availability of the raw materials, changing lifestyle of consumers, as well as the increasing need to offer foods at a much competitively low price is the major factor driving the growth of the food processing equipment market over the forecasted period.
The Increasing consumer demand, large demand for healthy food, rising need for productivity in the food & beverages, and government initiatives towards the food promotion these are the factors which will drive the market for food & beverages Processing equipment market. while the high cost associated with the equipment will be the restraining factor for the food & beverages processing equipment market.
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Further key findings from the report suggest
- Food & Beverage Processing Equipment market is growing at a CAGR of 4% in Asia Pacific followed by North America and Europe, with 6.2% and 5.8% CAGR, respectively. Growing Demand for quality food across the globe is the key factor to accelerate the market growth during forecast period across all regions
- As of 2018, Bakery & Confectionery is the dominating Food & Beverage Application which holds 20.5% of the global market. North America market is the chief revenue generating source for this product segment, followed by Asia-Pacific & Europe regions
- Dairy & Dairy Alternatives is expected to be the fastest growing market segment during forecast period 2019-2026 with a CAGR of 6.7%. However, Rising ingredients cost and growing competition are major challenges for the market growth of this market segment
- Others application segment (that includes water treatment, carbonated drink treatment, and all kinds of frozen foods) was valued at USD 3.9 billion and is expected reach USD 5.7 billion by 2026
- The Automatic Equipment operation type is projected to register highest CAGR amongst equipment operation type of 6.3% The Demand for Automatic Machines is increasing day by day it allows many benefits such as, better efficiency, cost saving and better production.
- Asia Pacific is expected to account for the 41% of the food & beverages processing equipment market. Developing nations such India & China are likely to witness high growth. The region is also forecasted to grow the fastest over the forecasted period on account of increasing number of food processing units being set up in countries like India, China, Australia, and New Zealand.
- The Large requirement of Investment to buy the equipment and continuous changes in technology which makes the technology brought earlier outdated such factors are likely to hinder the market growth during the forecast period.
- Key participants include Marel HF, Alfa Laval, JBT Corporate, GEA Group, Par-way Tryson, Krones AG, Buhler AG, SPX Flow Inc., Middleby Corporation, Tetra Pak
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/food-and-beverage-processing-equipment-market
Segments covered in the report:
For the purpose of this report, Reports and Data has segmented the Food & Beverage Processing Equipment market on the basis of form, application, equipment operation type, processing type, and region:
Food or Beverage Form (Revenue, USD Billion; 2016–2026)
Application (Revenue, USD Billion; 2016–2026)
- Bakery & Confectionary
- Dairy & Dairy Alternatives
- Fruits, Nuts & Vegetables
- Alcoholic drinks
- Non-Alcoholic Drinks
- Poultry, Meat & Seafood
- Ready Meals
Equipment Operation Type (Revenue, USD Billion; 2016–2026)
Processing Type (Revenue, USD Billion; 2016–2026)
- Primary Processing
- Secondary Processing
- Further Processing
- Across the Factory
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Regional Outlook (Revenue in USD Billion; 2016–2026)
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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