Food processing equipment: A growing industry set to surpass €63Bn by 2031
Transparency Market Research (TMR) predicts robust growth for the food processing equipment market, with an estimated value of €43,74bn in 2022 and a projected compound annual growth rate (CAGR) of 5.7% from 2023 to 2031, culminating in a market worth of €63.28bn by the end of 2031.
The comprehensive report provides valuable insights into the food processing equipment market, analysing equipment types, modes of operation, applications, distribution channels, and regional landscapes. It covers North America, Europe, Asia Pacific, the Middle East & Africa, and South America, offering a holistic view of the market’s dynamics.
Shaping the Food Processing Equipment Industry
The TMR report highlights several key findings that underscore the growth drivers shaping the food processing equipment market.
Bakery and confectionery products are projected to occupy the largest market share, reflecting changing consumer preferences. The demand for automatic food processing equipment is expected to rise as technologies become more widely adopted. Additionally, the growing consumer demand for processed food has led to an increased need for preparation equipment.
The market’s growth is further driven by the surge in plant-based diets, with traditional food-processing equipment being adapted to handle plant-based alternatives. As the urban population expands and fast-paced lifestyles gain popularity, the demand for hygienic convenience foods is rising, bolstering the food processing equipment market.
Analysing Market Dynamics and Growth Patterns Across Geographies
The regional analysis reveals distinct trends in the food processing equipment market. In Europe, the market is witnessing increased demand due to the rising popularity of ready-to-eat and convenience foods.
Similarly, the United States has experienced significant growth, driven by the increasing demand for pet food. Health consciousness and dietary trends have also played a pivotal role in market expansion in the United States and Canada.
Germany’s food manufacturing industry is actively investing in expanding production capacities to meet customer demands, indicating a positive outlook for the market in the region. Furthermore, China is expected to witness substantial growth, driven by the need for food processing equipment that enhances production efficiency and reduces processing time.
Advancements and Trends
With leading manufacturers heavily investing in research and development, product expansion, and strategic acquisitions, the food processing equipment market is poised for continued growth. While the report identifies major players, the focus remains on their dedication to product development and meeting evolving consumer demands.
In conclusion, the food processing equipment market presents significant growth opportunities, propelled by the rising demand for processed food, advancements in technology, and shifting consumer preferences. Manufacturers’ investments in innovative technologies such as IoT, AI, and robotics will play a crucial role in meeting the demands of health-conscious and convenience-oriented consumers. With an estimated market value surpassing €63.32 billion by 2031, the food processing equipment market is expected to shape the future of the food industry.