Food Processing & Handling Equipment Market by Type (Food Processing, Food Service, Food Packaging), Application (Meat & Poultry, Bakery & Confectionery, Alcoholic, Non-alcoholic Beverages, Dairy), End-product Form, and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).
The global Food Processing & Handling Equipment Market size is projected to reach a CAGR of 6.2% from 2023-2030.
Food processing and handling machines and systems used to cook, handle, prepare, package, and store food products are referred to as equipment. Food processing and handling equipment are designed primarily for palatability, but it also performs auxiliary functions such as preparation, handling, and packaging. These machines are increasingly being used to create food product applications.
The food Processing and handling Equipment Market size is mainly driven by consumers changing habits, tastes, and preferences in food, large customer base, change in lifestyle of consumers, easy availability of raw materials and need for broader options of food items. The demand for increasing packaged food in developing countries also drives the market. A rise in the disposable income of the customers and increased availability of dairy products will boost the food processing and handling equipment market size.
On the other hand, the constraints for food processing and handling equipment will be the high production costs, the large amount of electricity required to run the machines, and the large number of production costs involved in making organic processed foods.
The virus has significantly impacted the food processing and handling equipment manufacturing industry, causing production and factory operations to be halted. It all started in China, the global hub for supplying raw materials to companies, and then spread to the entire supply chain for manufacturing companies. Furthermore, the United Nations Conference on Trade and Development (UNCTAD) predicts that global FDI will fall by 5% to 15% as a result of a drop in manufacturing company operations due to factory shutdown. As a result, the COVID-19 outbreak is expected to slow global investment in the food processing equipment manufacturing sector. This scenario has reduced demand for food processing equipment, particularly in 2020.
The versatility of the equipment enables it to be utilized for a multitude of tasks such as cooking, handling, preparing, packaging, and storing. It is a market that is heavily influenced by the consumers themselves as their preferences, habits, and tastes directly affect it. The market size for food processing and handling equipment is predicted to experience significant growth due to the rise in disposable income of the consumers as well as the increased availability of dairy products. This is an excellent opportunity for manufacturers of these types of equipment to offer a diverse range of products and services to meet the growing demands of the market.
Asia Pacific to Dominate the Market