Southeast Asia Food Processing Equipment Market
Meticulous
Research® –leading
global market research company published a research report titled “SoutheastAsia Food Processing Equipment Market by Type (Meat Processing, Bakery
Processing, Beverage Processing, Dairy Processing, Chocolate &
Confectionery Processing) – Opportunity Analysis and Industry Forecast
(2018–2023)”.
According to this latest
publication from Meticulous Research®, the Southeast Asia food
processing equipment market is expected to grow at a CAGR of 4.7% from 2018 to
2023 to reach USD 1,152.0 Million by 2023. This market is mainly driven by
factors such as increasing consumer demand for processed food, growing focus on
food safety and safety of workers, growing need to increase productivity,
increasing focus of food manufacturers to reduce production cost, and
government support to promote food processing sector. However, high cost of
equipment and increasing consumer inclination towards consumption of minimal
processed food products hinders the growth of this market. In addition, lack of
trained labor force in many parts of the Southeast Asia poses a great challenge
to the food processing equipment manufacturers.
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in-depth Report on https://www.meticulousresearch.com/product/southeast-asia-food-processing-equipment-market/
The Southeast Asia food
processing equipment market study presents historical market data in terms of
value (2016 and 2017), estimated current data (2018), and forecasts for 2023 by
various types of equipment. Meat, poultry, and seafood processing equipment
commanded the largest share of the Southeast Asia food processing equipment
market in 2017. These equipment are widely adopted by the Southeast Asian meat
processors to meet increased demand of processed meat products due to fast
progression of urbanization, increasing population, consumer preference for
protein-rich food products, and the tendency among city dwellers to spend more
on food. However, chocolate and confectionary processing equipment market is
expected to witness highest CAGR during the forecast period with the rising
need to manufacture high-value confectionery products under cost-pressure;
growing need of maximizing energy efficiency; and growing confectionery
industry due to economic factors, sociological trends, increasing health consciousness,
and a fast-evolving indulgence seeking attitude of the consumers.
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This research report
analyzes major geographies and provides comprehensive analysis of Southeast
Asia (Indonesia, Thailand, Malaysia, Philippines, Vietnam, Singapore, and
RoSEA). Indonesia captured a significant share in 2017 and is expected to
register highest CAGR during the forecast period in Southeast Asia food
processing equipment market. The large share of Indonesia is mainly attributed
to its huge and growing processed food industry due to growing Indonesian
population, increased urbanization, growing awareness of healthy lifestyle
products, rising incomes, and growing Indonesian tourism industry. The growing
number of food processing units and development of modern food retail sector in
the country further propels the growth of this market.
Some of the key
players operating in the Southeast Asia food processing equipment market are
Bühler AG (Switzerland), Marel HF (Iceland), Gold Peg International Pty Ltd.
(Australia), Paul Mueller Company (U.S.), GEA Group Aktiengesellschaft
(Germany), Baader Group (Germany), Bucher Industries AG (Switzerland), The
Middleby Corp (U.S.), Heat and Control Inc. (U.S), Alfa Laval AB (Sweden),
Nichimo International Inc. (Japan), Emura Food Machine Co, Ltd. (Japan), Krones
AG (Germany), Paul Mueller Company (U.S.), Key Technology Inc. (U.S.), and
Tetra Pak International S.A. (Switzerland), Yanagiya Machinery Co., Ltd
(Japan), Topsteel Holdings Pte Ltd (Singapore), Keto Agricultural Engineering
Sdn (Malaysia), EUROASIA FOOD EQUIPMENT SDN BHD (Malaysia), and Auto Kinetics
(M) Sdn Bhd (Malaysia).
In the recent past, these
companies have significantly focused on acquisitions to offer extensive range
of production solutions, expand their activities in the area of food
processing, and strengthen their product portfolios and position in the food
processing equipment market in this region. For instance, in June 2017, the
Middleby Corporation acquired Sveba Dahlen Group (Sweden), a developer and
manufacturer of ovens and baking equipment for commercial food service and
industrial baking. This acquisition helped the company to strengthen their
position in the bakery category and provide increased growth opportunities in
the retail market.
About Meticulous Research®
Meticulous Research® is
founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in
2013 as a private limited company under the Companies Act, 1956. Since its
incorporation, the company has become the leading provider of premium market
intelligence in North America, Europe, Asia-Pacific, Latin America, and Middle
East & Africa.
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