Global Food Processing and Packaging Market to Reach $36.5 Billion by 2023

December 26, 2018

WELLESLEY, Mass., Dec. 26, 2018 – The global market for food processing and packaging equipment is rapidly expanding; reasons for this expansion include mechanized food processing developments, recent innovations in both packing and processing equipment and rising user demand, according to the report “Global Markets for Food Processing and Food Packaging Equipment.”

The global food processing and food packaging equipment market was valued at $29.2 billion in 2018 and is expected to reach $36.5 billion by 2023 at a compound annual growth rate (CAGR) of 4.5%, according to BCC Research.

Key players in the industry mentioned in this report include 3-A Sanitary Standards Inc., NSF International (NSF) and Underwriters Laboratories (UL).

Research Highlights:

In the beverage market, manufacturers are focusing on healthy drinks such as fruit and vegetable juices, calcium-fortified bottled water and reduced-sugar alternatives. The carbonated segment is challenged by these types of health drinks.
The share of meat, fish and poultry processing equipment will increase from 37.7% in 2018 to 40.3% in 2023.
Natural population growth is a common factor in the growth of grain processing globally. Processing techniques differ significantly across regions of grain consumption.

“As in all other manufacturing industries, robotics and state-of-the-art automated equipment have increased product efficiency and consistency in the food processing and packaging segment,” analyst Shalini Ramamurthy reports. “Advanced automated food processing equipment is capable of producing high volume and better-quality products with long shelf lives in a short period of time. With regard to ready-to-eat and taken-on-the-go meals, the food packaging industry has become more conscious about the health of consumers.”

Bakery Processing Equipment Market Faces Rapid Expansion

The key trends in bakery consumption are convenience, health, taste, authenticity and value. Bakers choose industrial bakery equipment based on its capacity, cost and energy efficiency. These machines are designed to closely replicate the traditional process of bread making. The global market for bakery processing equipment is expected to reach $1.9 billion by 2023, growing at a CAGR of 5.2% from its 2018 market value of $1.5 billion.

Editors/reporters requesting analyst interviews should contact Eric Surber at press@bccresearch.com.

Global Markets for Food Processing and Food Packaging Equipment( FOD066C )
Publish Date: Dec 2018

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