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(MoneyNewsWire.Net, April 11, 2018 ) The global food processing equipment market has grown steadily in the last few years. The market size is projected to reach USD 72.27 Billion by 2022, at a CAGR of around 7.0% from 2016 to 2022. The rising demand for processed dairy and meat & seafood products is the major driving factor of this market.
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The type of processing equipment considered include thermal equipment, mixers, blenders, homogenizers, cutting & peeling equipment, and extraction equipment. Thermal equipment has the largest market in the food processing equipment industry. The demand for processed food, especially in the Asia-Pacific region in countries such as India and China is expected to fuel the growth of this segment. Growth in related industries such as dairy, bakery, and meat is also expected to accelerate the demand for various equipment for faster and more efficient processing, in order to meet the consumer demand.
In the end-product form segment, the market has been segmented on the basis of solid, liquid, and semi-solid. The solid form accounted for the largest share in 2015. The solid processed food products mainly consist of meat, seafood, bakery products, ready-to-eat products, and dairy products among others. It is driven by the fast food and convenience food trend across the globe.
The purpose of processing solid foods is to produce a desired product, for easy handling, better taste, sensory characteristics, and increased shelf life. Heating equipment, dryers, fermenters, coolers, coating equipment, evaporators, and powder handling equipment are the common equipment used for processing.
On the basis of mode of operation, the food processing equipment market is segmented by semi-automatic and automatic. The semi-automatic segment accounted for the higher market share in 2015. Developing countries in Asia-Pacific and South America have several small- and medium-sized manufacturers for food & beverage processing that utilize semi-automated equipment. These manufacturers have a limited investment capacity and limited advancement in technology, which are one of the major factors that have led to the use of semi-automated machines in these regions.
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The food processing equipment market in Asia-Pacific is largest and projected to grow at the highest CAGR during the forecast period. The major driver for the growth of the food processing equipment market is due to the growth of the food & beverage industry in emerging economies, such as India and China.
Rising costs of production due to advanced technology used in processing equipment and rising demand for minimally processed, healthier organic food products are the factors restraining the market.
The food processing equipment market is characterized by high competition due to the presence of a number of large- and small-scale firms having low product differentiation. New product launches, acquisitions, and expansions are the key strategies adopted by these players to ensure their growth in the market. The market is dominated by players such as GEA Group (Germany), ALFA LAVAL (Sweden), Bucher Industries (Switzerland), SPX Corporation (U.S.), and Krones AG (Germany). Other players in the industry include Buhler AG (Switzerland), JBT Corporation (U.S.), Rexnord Corporation (U.S.), Marel (Iceland), and Fenco Food Machinery (Italy).
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