According to a research report “Food & Beverage Processing Equipment Market by Type (Processing, Pre-Processing), Application (Bakery & Confectionery, Meat & Poultry, Dairy, Alcoholic & Non-Alcoholic Beverages), Mode of Operation, End-Product Form and Region – Global Forecast to 2026″, published by MarketsandMarkets, the food & beverage processing equipment market was estimated at USD 58.3 billion in 2021. It is projected to reach USD 76.0 billion by 2026 at a CAGR of 5.5% during the forecast period. Advancements in the food processing industry, innovation in processing technology, and continuous growth in the demand for processed food are some factors that are expected to support the growth of the food & beverage processing equipment market. With the growing preference for healthy and functional foods, manufacturers are expected to adopt new equipment to fulfill the demand for healthy functional foods & beverages. The expansion of food manufacturing capacities and growth of the food processing industry in emerging economies will also support the growth of the food & beverage processing equipment market.
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The solid segment dominated the market with USD 32.78 billion in 2020
In terms of value, the market for food & beverage processing equipment was dominated by the solid form in 2020. With the rise in disposable income, consumers in developing markets are willing to spend more on processed and packaged convenience food. Due to this, food manufacturers are scaling up their production to cater to the rising demand for food, which, in turn, is contributing to the rising demand for processing equipment in the market.
The processing segment by type dominated the market, with a share of 67.5% in 2020
The processing segment dominated the market for food & beverage processing equipment and was valued at USD 37.41 billion in 2020 and is projected to grow at a CAGR of 5.5% during the forecast period. The rapidly growing bakery products, dairy products, and beverages industries are also expected to accelerate the demand for equipment for faster and more efficient processing to meet consumer demand. This growth can be seen in emerging regions such as the Asia Pacific, where, due to progressive economic growth and improved income levels, people are demanding more packaged food and ready meals; this has led to the growth of the overall food & beverage equipment market.
China dominated the Asia Pacific market for food & beverage processing equipment with a value of USD 7.15 Billion in 2020
The Chinese food & beverage processing equipment market is fragmented with the presence of small and medium-sized food & beverage processing equipment manufacturers that are mainly focused on offering a limited range of products. The presence of a large number of equipment manufacturers is also driving the growth of this market. China’s food processing industry is maturing, and growth is moderating. Consumers have become increasingly interested in eating more natural and healthier foods while valuing convenience and attractive packaging.
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Key players in this market include Marel (Iceland), GEA Group (Germany), Bühler (Switzerland), JBT (US), The Middleby Corporation (US), Heat and Control, Inc. (US), Alfa Laval (Sweden), TNA Australia Pty Ltd. (Australia), Bucher Industries (Switzerland), Equipamientos Cárnicos, S.L (Spain), Clextral (France), SPX FLOW (US), Bigtem Makine (Turkey), FENCO Food Machinery (Italy), Krones Group (Germany), Finis Food Processing Equipment B.V. (Netherlands), Bettcher Industries, Inc. (US), Anko Food Machine Co. Ltd. (Taiwan), Heat and Control, Inc. (US), BAADER (Germany), and Dover Corporation (US).