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