Food Processing and Handling Equipment Market was valued at USD 146.22 Billion in 2020 and is projected to reach USD 235.30 Billion by 2028, at a CAGR of 6.1%
NEW YORK CITY, NEW YORK, USA, March 9, 2022 /EINPresswire.com/ — According to current reports and data analysis, the global food processing and handling equipment market was valued at 146.22 billion USD in 2020 and is projected to reach USD 235.30 billion by 2028, at a CAGR of 6.1%. Growing demand for food processing and handling equipment attributed to increasing global consumption. People in developing countries like India, China and the large market in these countries will create more demand from the food industry.
The report provides a panoramic view of the global market competitive landscape to offer key insights into the major players and their business expansion plans. It also offers essential information on their financial condition, global position, product portfolio, revenue and gross profit margins, as well as technological and research developments. It also sheds light on mergers and acquisitions activity, collaborations, partnerships, deals, deals, and product launches, among others. The research study deploys advanced research methodologies such as SWOT analysis and Porter’s Five Forces analysis to offer deeper insights into key players.
The processing production cycle, the initial basic operations focus on manufacturing the raw material for subsequent processes – usually mechanical or chemical processing – by sorting out the desirable material from the poor quality, substandard or unwanted material. By doing so, manufacturers are better able to ensure the production of consistent, high-quality products, as well as to remove foreign matter and contaminants that could degrade or damage food material or equipment.
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The main participants are Alfa Laval, Buhler AG, JBT Corporation, GEA, Dover Corporation, Robert Bosch, IMA Group, Middleby Corporation, Welbeit Inc., Multivac Corporation.
Other key findings from the report suggest:
• Food processing and handling equipment market grows at a CAGR of 5% in Asia-Pacific, followed by North America and Europe with a CAGR of 6.4% and 6.0% , respectively. Growing demand across the globe is the key factor for accelerating the market growth during the forecast period across all regions
• In 2018, bakery and confectionery is the dominant industry application, which holds 21.8% of the global industry. The Asia-Pacific market is the main source of revenue for this product segment, followed by the North America and Europe regions
• The Dairy Products application is expected to be the fastest growing market segment over the forecast period 2019-2026 with a CAGR of 6.8%. However, the risks associated with products such as shelf life, cost, and alternatives to dairy products pose a major challenge for the growth of the market.
• The Other Applications segment (which includes livestock feeds, frozen foods, pharmaceuticals, juices and beverages, soups, seasonings and dressings) was valued at USD 10.3 billion and is expected to reach USD 16.2 billion by 2026.
• The Conveyor Belts equipment type holds 32.5% of the equipment type segment. The increasing use of conveyor belts for the horizontal movement of products in the company is the main growth factor.
• New product launches and with the advancement of technology and the reluctance of
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Market segmentation :
Form (Revenue, USD Billion; 2018-2028)
Application (Revenue, USD Billion; 2018-2028)
• Bakery and confectionery
• Meat, poultry and seafood
• Dairy products
• Prepared food
• Grease and oil
• Fruits and vegetables
Equipment Type (Revenue, USD Billion; 2018-2028)
• Conveyor belts
• Hoppers and silos
Treatment Type (Revenue, USD Billion; 2018-2028)
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Regional Outlook (Revenue in USD Billion; 2018-2028)
• North America
o United States
o United Kingdom
o Rest of Europe
• Asia Pacific
o Rest of Asia-Pacific
• Middle East and Africa
• Latin America
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Answers to key questions in the report:
1. What will be the market size and growth rate during the forecast year?
2. What are the key factors driving the global food processing and handling equipment market?
3. What are the risks and challenges facing the market?
4. Who are the key players in the global food processing and handling equipment market?
5. What are the trending factors influencing market share?
6. What are the main results of Porter’s five forces model?
7. What are the global opportunities for expanding the global food processing and handling equipment market?
Thank you for reading this article. You can also get chapter wise sections or region wise report coverage for North America, Europe, Asia-Pacific, Latin America, Middle East & Africa.
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