Study: Global food processing equipment market to reach $85.59B by 2025
The processing equipment type segment is expected to witness the fastest growth over the forecast period.
The global food processing equipment market size is anticipated to reach $85.59 billion by 2025, according to a new report published by Grand View Research, Inc., San Francisco.
Driven by growing demand for processed and ready-to-eat (RTE) food products across the globe, the market is projected to expand at a CAGR of 6.2% over the forecast period. Strict government regulations regarding the hygiene and standardization of food products will further drive the demand for food processing equipment. Increasing demand for meat, poultry and seafood is also predicted to support the market growth in the coming years. Furthermore, growing trend of industrial automation coupled with easy availability of these units will spur the market development.
The automatic mode of operation segment led the market in 2017, and is likely to expand further at a CAGR of 7% over the forecast period. This growth can be attributed to technological advancements in the processing market.
The processing equipment segment is expected to register a CAGR 6.5% in the forecast period reaching $45.67 billion by 2025. The pre-processing equipment type is also projected to account for a significant share of the global market.
Further key findings from the report suggest:
- The processing equipment type segment is expected to witness the fastest growth over the forecast period.
- India was valued at $3.2 billion in 2017, owing to the large-scale demand for food processing equipment in the region.
- As of 2017, the United States is among the prominent markets on account of large population base and rapid industrial development.
- The U.S. food processing equipment market is expected to register a CAGR of 4.9%, owing to favorable growth opportunities in the region.
- U.K. is also anticipated to grow significantly over the coming years.