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The global food processing machinery market was valued at $52,787 million in 2016, and is projected to reach at $68,882 million by 2023, growing at a CAGR of 3.9% from 2017 to 2023, according to a new report published by Allied Market Research, Portland, Ore. The study, “Food Processing Machinery Market by Type, Mode of Operation and Application Industry: Global Opportunity Analysis and Industry Forecast, 2017-2023,” reveals that the meat, poultry and seafood segment dominated the market in 2016, and accounted for around two-fifths market share, in terms of revenue.
The demand for processed food has increased due to rapid change in the lifestyle of people globally. Thus, food processing companies have upgraded machines to offer high-processing capacity.
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