According to the fruit and vegetable processing market is estimated to account for nearly USD 8.7 billion in 2022 and is projected to reach a value of nearly USD 11.8 billion by 2027, growing at a CAGR of 6.4% from 2022. Emerging markets in upcoming economies such as the Asia Pacific and South American countries are going to be a potential market for the fruit and vegetable equipment manufacturers. The fruit and vegetable processing equipment market is exhibiting strong growth, with the rising demand for prepared food products globally, changes in consumer lifestyles, a transformative leap forward in technological capabilities, and increasing investment opportunities in the food processing industry.
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The rise in demand for processed food and convenience food has been supported by the rise in disposable income and rapid urbanization in developing countries, such as India, Brazil, and China. There have also been several initiatives by processing and food packaging equipment manufacturers to strengthen their production capabilities through the expansion of their manufacturing facilities and acquisitions of smaller equipment manufacturers to expand their product portfolio. The trend of offering products that are allergen-free, organic, and ready to eat food is becoming prevalent in the market. Thus, many countries have an established processed fruit and vegetables industry and are witnessing an increasing demand for premium and innovative processed fruit and vegetables products such as fresh, canned, dehyadrated and frozen fruit and vegetables. Industries are focusing on offering fruit and vegetables items to meet the increasing demand of consumers. The increasing preference for processed fruit and vegetables products has further led to a surge in demand for fruit and vegetable processing equipment market globally.
The fruit & vegetable processing equipment market, by type, is segmented into pre-processing, peeling/inspection/slicing, washing & dewatering, fillers, seasoning system, packaging & handling, and others. Among these types of equipment, the fillers segment is projected to account for the largest share of the fruit & vegetable processing equipment market by 2027 and is projected to grow at CAGR of 7.1%, in terms of value from 2022. The equipment used in each processing line differs as per the end product. For instance, for fresh products, the processing line includes washers and packaging/sealing equipment, and for preserved products, the line includes washers, peeling/slicing/cutting equipment (if required), fillers (addition of vinegar/acetic acid), and packaging equipment.
The fruit & vegetable processing equipment market was dominated by the semi-automatic segment, in 2021. This segment is projected to grow at a CAGR of 5.5% during the forecast period to reach USD 5,757.9 million by 2027. The automated segment is projected to grow at a higher CAGR, as the key processing players prefer automated and integrated processing systems which can increase their production efficiency.
The Asia Pacific is estimated to account for the largest market share in the processed fruits & vegetables market in 2022. The fruit & vegetable processing industry in developing economies such as Asia Pacific and South American countries has developed due to factors such increasing number of working women and middle-class population, bulk production of various agricultural products, and government subsidies in countries such as India, coupled with trade liberation.