Global Food Processing Equipment Market is Expected To Reach At USD 74.019 Billion By 2022

The Global Food Processing Equipment Market is expected to grow at a CAGR of 6.1% from 2017 to 2022 to reach $74,019.6 million by 2022 from $55,158.1 million in 2017. The growth of this market is mainly attributed to the 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. In addition, emerging economies such as Latin America, South East Asia, and Africa provides significant opportunity for the manufacturers in the global food processing equipment market. However, high cost of equipment and increasing consumers’ 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 globe poses a great challenge to the global food processing equipment manufacturers.

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Increasing consumer demand for processed food

Global processed food consumption has increased rapidly in recent decades. This demand is associated with increasing urbanization, hectic lifestyles, rising number of nuclear families, increasing proportion of working women, and availability of less time for food preparation. Simultaneously, growing brand consciousness, exposure to western products in Asian countries, introduction of new food categories, and new product variants catering to diversified tastes are ensuring higher acceptability of processed food products. All these factors create a strong case for the accelerated growth of processed foods. However, out of all these factors, increasing urbanization is majorly responsible for the growing demand of processed foods. 

According to the World Health Organization, the urban population in 2014 accounted for around 54% of the total global population, up from 34% in 1960, and continues to grow further. The global urban population is expected to grow approximately 1.84% per year between 2015 and 2020, 1.63% per year between 2020 and 2025, and 1.44% per year between 2025 and 2030. As a result, consumers are being exposed to a much wider choice and better availability of food within the urban environment, compared to those who are living in rural areas. This urbanization trend contributes significantly towards improved living standards and rising incomes which in turn influence the affordability of processed food products to a greater extent, thus leading to the significant increase in the processed food consumption and production worldwide.

Further, processed foods have become increasingly accessible to all age groups and are sold as pre-prepared or ready-to-eat. The processed foods make up vital parts of the food supply and also contributing in food security (ensuring that sufficient food is available) and nutrition security (ensuring that food quality meets human nutrient needs). Furthermore, throughout the world, there are major shifts in dietary patterns, even in the consumption of basic staples towards more diversified diets. The consumer is ever-changing towards more value-added food categories and their hunt for health is having a great impact on the food processor. As a result, consumer increasingly prefers processed food which in turn leads to its increased production by food processors.

As the demand for processed food is increasing, technological advancements are necessary for the growth of the sector and for the diversification of the existing production capacity of the food processing firms to meet the demand. Also, there is a growing demand for processing basic products such as fruits, vegetables, and grains which require technologically advanced equipment. Therefore, there is a need to adopt new methods, technology, and machineries in the food processing industry with least impact on sensory qualities such as color and texture. Thus, to find a technological edge in the marketplace, food processors are exploring new processing and preservation technologies with the help of processing equipment, thereby fueling the adoption of food processing equipment across the globe.

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