Food Processing Equipment Industry | Forecast 2030

Seafood Processing Equipment Market is anticipated to grow at a CAGR of 3.2%

Food Processing Equipment Industry | Forecast 2030

The economic value generated by the food processing equipment industry was estimated at approximately USD 44,842.6 million in 2020. The global food processing equipment market growth is expected to be significantly driven by the growing demand for processed food products. Rising population, increasing disposable income, shift in the consumer shopping behavior is likely to demand for more processed food products during projected timeframe.

A rapid increase in population growth and expansion of manufacturing industries across the world are anticipated to boost the consumption for processed food products and food processing equipment market over the forecast period. In the U.S., around 23% of adults eat fast food meals approximately three or more times a week, according to the Fast-Food Statistics 2021 report. Rising expenditure on processed food & beverages and rapid industrialization is expected to increase demand for food processing equipment over the forecast period.

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Seafood Processing Equipment Market Insights

The global seafood processing equipment market size was valued at USD 1.95 billion in 2017. It is anticipated to grow at a CAGR of 3.2% over the forecast period. Strict government regulations regarding food and associated industries are anticipated to increase consumer inclination towards seafood. Rising income, population, urbanization, and health awareness are expected to further propel the market growth.

The demand for tasty and healthy processed food is witnessing exponential increase every year, with a rising population and an increased need to fulfill its food requirements. This exerts pressure on the food processing industry. This factor is anticipated to favor the market for seafood processing equipment. Rising health awareness in Europe and North America coupled with developing regions including Asia Pacific is forecasted to further boost the growth over the forecast period.

Hot Food Processing Equipment Market Insights

The global hot food processing equipment market size was valued at USD 20.82 billion in 2021 and is expected to exhibit a compound annual growth rate (CAGR) of 6.3% from 2022 to 2030. The rising demand for fast food and packaged food is expected to prompt manufacturers to expand their production capabilities, thereby augmenting the demand for hot food processing equipment during the forecast period.

Bakery Processing Equipment Market Insights

The global bakery processing equipment market size was valued at USD 13.4 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 6.3% from 2023 to 2030. Growing demand for packaged food products, including ready-to-eat food & snack foods, owing to their convenience and shelf life is anticipated to drive the market demand for bakery processing equipment over the forecast period. Changing consumer lifestyles and tastes have compelled food manufacturers to introduce new products. However, these product launches focus on catering to the changing demand for taste, flavor, and nutrients, thus adding to the production complexity.

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Grain Processing Equipment Market Insights

The global grain processing equipment market size was valued at USD 4.2 billion in 2018 and is expected to grow at a compound annual growth rate (CAGR) of 5.0% from 2019 to 2025.

When cereals are harvested, some unwanted particles such as strings, wood, stones, bag material, and straw are often swept along with the cereals. These unwanted particles are required to be separated before processing. Cereals are processed with the help of numerous pre-processing and processing equipment such as destoner, gravity separator, grain dryers, grain grading machines, maize mills, grain separators, grain pre-cleaners, vibro destoners, and grain dischargers.

Meat Processing Equipment Market Insights

The global meat processing equipment market was estimated at USD 10.28 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 4.9% from 2023 to 2030. The rising investments in meat processing machinery coupled with technological advancements in meat processing equipment are anticipated to fuel the growth of the industry during the forecast period. Stringent regulations regarding selling, trading, and transporting meat under controlled conditions to avoid spoilage and proper maintenance of nutrient values are expected to drive the demand for meat processing equipment. High R&D expenditure has resulted in the development of new technologies, such as the integration of equipment used for different purposes, including slicing, blending, and grinding into one machine, to save transfer costs and maintain hygiene levels.

Brewery Equipment Market Insights

The global brewery equipment market was valued at USD 16.52 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 5.9% during the forecast period. The demand for brewery equipment is expected to increase during the forecast period as beer drinkers throughout the world show an increasing preference for craft breweries due to their distinctive flavor.

Beer consumption declined during the Covid-19 pandemic as a result of the closure of the breweries and alcohol retailers owing to the lockdown, which had an effect on the market for brewing equipment. However, when breweries began to operate in 2022 and beer demand climbed, as a result of this, it is anticipated to boost demand for brewery equipment in the market, globally.