Global Food Product Machinery Market Price 2024, Forecast To 2033
11 Jan, 2024
The food product machinery market size witnessed robust growth, rising from $39.82 billion in 2023 to $42.73 billion in 2024, at a 7.3% CAGR. Historical growth is linked to the expansion of the food processing industry, hygiene standards, consumer demand for convenience, and globalization of food supply chains. Predicting continued growth, the market is expected to reach $55.85 billion in 2028, showcasing a 6.9% CAGR. Growth drivers include sustainability, Industry 4.0 integration, customization, digitalization, and global market expansion. Notable trends encompass automation, clean label ingredients, smart packaging, waste reduction, and personalized food processing.
Global Food Product Machinery Market Key Driver
Anticipated expansion in the food and beverage industry's scope is expected to fuel the growth of the food product machinery market. Encompassing companies involved in processing, packaging, and distributing consumer food products, the industry benefits from enhanced efficiency and safety provided by food product machinery. A report by Agriculture and Agri-Food Canada notes a retail sales value increase for fortified or functional foods and beverages in the United States, reaching $68.9 billion in 2021. This growth trend is projected to continue, supporting the food product machinery market.
Get A Free Sample Of The Global Food Product Machinery Market ReportGlobal Food Product Machinery Market Segments
The food product machinery market covered in this report is segmented –
1)By Type: Dairy Product Plant Machinery And Equipment, Bakery Machinery And Equipment, Meat And Poultry Processing And Preparation Machinery, Other Commercial Food Products Machinery
2)By Product: Depositors, Extruding Machines, Mixers, Refrigerators, Slicers & Dicers, Other Products
3)By Capacity: Small, Medium, Large
4)By Operation: Autonomous, Semi-autonomous, Manual
By Geography: The regions covered in the food product machinery market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions
Western Europe was the largest region in the food product machinery market in 2023. The Asia-Pacific was the second largest region. The regions covered in the food product machinery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Major Food Product Machinery Industry Players
Tetra Laval International S.A., Krones AG, GEA Group, Bühler Group, The Middleby Corporation, JBT Corporation, Dover Corporation, Illinois Tool Works Inc., CIMC Enric Holdings Limited, Sumitomo Heavy Industries., Alfa Laval AB, Marel hf., SPX Flow Inc., Urschel Laboratories Inc., Stoelting Foodservice Equipment, Idaho Steel Products, Anko Food Machine Co. Ltd., Heat and Control Inc., Paul Mueller Company, Key Technology Inc., Sidel Group, Ishida Co. Ltd., Tomra Systems ASA, Meyer Industries Inc., FMC Corporation, KHS GmbH, Rheon Automatic Machinery Co. Ltd., Grote Company, Heat Exchange and Transfer Inc., Atlas Pacific Engineering Company Inc., FPEC Corporation, Lyco Manufacturing Inc., Reading Bakery Systems, Satake USA Inc.
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Food Product Machinery Market Overview
The food product machinery refers to the various components, processing machines, and systems used to handle, prepare, store, cook, and package food and food products.
Food Product Machinery Global Market Report 2023 provides data on the global food product machinery market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The food product machinery market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.