Growing Demand For Processed Food Drives The Global Food Processing Machinery And Equipment Market, According To New Report By Global Industry Analysts, Inc.
GIA announces the release of a comprehensive global report on Food Processing Machinery and Equipment markets. The global market for Food Processing Machinery and Equipment is forecast to reach US$45 billion by the year 2018, driven by the growing demand for processed food across geographies. Also, growing number of large food chains, restaurants, and fast food centers the world over, and the subsequent increase in number of food processing facilities would continue to create opportunities for Food Processing Machinery and Equipment. Additionally, developing markets, such as Asia-Pacific, Latin America, and Eastern Europe, are expected to lend traction and boost market prospects over the next few years.
San Jose, California (PRWEB) Follow us on LinkedIn – From slaughtering animals, slicing, cutting, chopping, stuffing, blending, grinding, and tenderizing meat in meat processing units to crushing fruits, extracting, and separating or mixing juice in beverage processing, food processing machinery and equipment have a role to play in almost all steps in the food process chain, thereby proving to be indispensable component for food processors. The market for food processing machinery and equipment is linked to the structure, behavior and trends in food processing industry, which has been the scene of several changes in recent times, right from processing techniques employed to the equipment and machinery used. Type of food products demanded by consumers, new processes employed by food processing companies, government regulations, and growing awareness levels about health and hygiene directly influence the market prospects for food processing equipment. The market is largely heterogeneous and consists of numerous segments and sub segments.
Given its high-strung sensitivity to the demand for processed food and the level of activity in food processing industry, the global market for food processing machinery and equipment suffered a temporary set back during 2008 and 2009, as the global economic recession squeezed the demand for processed food products and slowed down investments in food processing plants. However, the food processing machinery and equipment market witnessed across the board recovery in growth in 2010, strongly supported by the revival in global economy after a two-year low, and strong resurgence in growth fundamentals, such as increase in income levels, growth in consumer spending, increase in demand for processed foods, steady rise in food processing activity, and subsequent increase in capital spending by food processors. Following post recession resurgence, food processing machinery and equipment staged increased demand in the developing markets, with strong order inflows mostly stemming from China, India, and Thailand. Europe however remains under the yoke stressed by the sovereign debt crisis and the looming possibility of euro-zone recession. Demand for capital goods in Europe therefore remains unsteady fraught with uncertainty.
Asia-Pacific constitutes the largest and the fastest growing regional market for food processing machinery and equipment, as stated by the new market research report on Food Processing Machinery and Equipment. Growth in this region will be primarily driven by rising demand for processed food varieties as a result of continued economic growth in the region, particularly in emerging markets such as China and India, and subsequent rise in employment levels, consumer disposable incomes, and spending on processed food. Fast improving living standards, growing penetration of refrigerators and microwave ovens, and growing influence of western food habits and consumption patterns are also driving demand for processed food in the region, thus ultimately influencing the demand for food processing machinery and equipment. The US, one of the leading exporters of food processing machinery and equipment, witnessed increase in orders during post recessionary period, primarily driven by new order inflows from developing markets. This serves an indicator of the fact that excluding Europe, business confidence remains optimistic in developing countries. Currently, the US and Canada present an encouraging picture as both the economies rebound following temporary reversal of downward factors.
In terms of machinery types, the global market for food processing machinery and equipment is primarily driven by the Meat Processing Machinery and Poultry Processing Machinery. Increasing population, rising income levels, growing urbanization and increasing consumer demand for protein food are driving demand for meat and meat products across the globe. Global per capita meat consumption is likely to increase over the next 10 years, and given the rapidly increasing world population, further increase in meat consumption levels is inevitable. This increase in demand for meat and meat products, and the subsequent rise in meat processing activity are driving market prospects for meat processing machinery and equipment market.
Given the intense competition in the market, product pricing, technical capabilities, quality, flexibility, automation features, and after-sales service/support would prove to be key competitive variables for manufacturers of food processing machinery and equipment. Several manufacturers are already focusing on turning into one-stop shop for wide range of products, serving a broad array of end-use markets. With food processors increasingly preferring to source equipment and machinery from global suppliers, expanding operational footprint by extending their distribution facilities across the globe, is also a key survival strategy for equipment manufacturers.
Major players profiled in the report include Atlas Pacific Engineering Co., Inc., Bucher Industries AG, Buhler AG, GEA Group AG, GEA Convenience Food Technologies, Heat and Control Inc., John Bean Technologies Corp., Key Technology Inc., Marel Food Systems, Marlen International, Meyn Food Processing Technology BV, The Middleby Corporation, Rheon Automatic Machinery Co., Ltd., Satake Corp., SPX Corp., APV, Tetra-Laval International SA, Wenger Manufacturing Inc., among others.
The report titled "Food Processing Machinery and Equipment: A Global Strategic Business Report" announced by Global Industry Analysts Inc., provides a comprehensive review of the food processing machinery and equipment market, impact of recession on the market, key growth drivers, new product introductions, recent industry activity, and focus on major and niche global market participants. The study analyzes market data and analytics in terms of value sales for the global market for the years 2010 through 2018 by the following regions - US, Canada, Japan, Europe, Asia-Pacific, Latin America, and Rest of World. Key machinery types analyzed include Meat/Poultry Processing Machinery, Fish/Seafood Processing Machinery, Dry Foods Processing Machinery, Beverage Processing Machinery, Pre-Prepared Foods Processing Machinery, Dairy Products Processing Machinery, Fruit/Vegetable Processing Machinery, Grain Mill Processing Machinery, Fats and Oil Processing Machinery, and Multi-Products/General Purpose Processing Machinery. Also, a six-year (2004-2009) historic analysis is provided for additional perspective.
For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Food_Processing_Machinery_and_Equipment_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
SOURCE: PRWeb
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