The Food Processing & Handling Equipment market was valued at USD 146.22 Billion in 2020 and is expected to reach USD 235.30 Billion by 2028, at a CAGR of 6.1%
NEW YORK CITY, NEW YORK, USA, September 13, 2021 /EINPresswire.com/ — According to the current analysis of Reports and Data, the global Food Processing & Handling Equipment market was valued at USD 146.22 Billion in 2020 and is expected to reach USD 235.30 Billion by 2028, at a CAGR of 6.1%. The rising demand for food processing & handling equipment attributed to the increase in the world consumption. The people in developing countries like India, China and the large market from these countries will create more demand from the food industry.
This report on the Food Processing & Handling Equipment market delivers a cumulative synopsis of the speculations of this business, overall, along with an evaluation of its segmentations. It predicts the Food Processing & Handling Equipment market to advance as one of the most profitable verticals, generating massive revenue by the end of the forecast years, exhibiting a sizable growth rate over the calculated period. The opportunities for growth and expansion that are prominent in the sector as well as the geographical coverage of the industry have also been investigated by the report.
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Key participants include Alfa Laval, Buhler AG, JBT Corporation, GEA, Dover Corporation, Robert Bosch, IMA Group, Middleby Corporation, Welbeit Inc., Multivac Corporation
Further key findings from the report suggest:
• As of 2018, Bakery & Confectionery is the dominating industry application, which holds 21.8% of the global industry. The Asia-pacific market is the chief revenue-generating source for this product segment, followed by North America and Europe regions
• Dairy Products application is expected to be the fastest-growing market segment during forecast period 2019-2026 with a CAGR of 6.8%. However, risk associated with products like shelf life, costs, and alternatives to dairy products are major challenge for the market growth.
• Conveyor Belts equipment type holds 32.5% of the equipment type segment. The increasing use of conveyor belts for horizontal moving of products in the company is the primary factor for the growth.
• Asia Pacific is expected to account for 33% of the global industry due to rising demand from countries like Japan, Australia, New-Zealand, with developing nations such as India & China
• A large number of risks associated with food processing and large investment requirements in the industry are likely to hinder the industry growth during the forecast period.
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Form (Revenue, USD Billion; 2018–2028)
Application (Revenue, USD Billion; 2018–2028)
• Bakery & Confectionery
• Meat, Poultry & Seafood
• Dairy Products
• Prepared Food
• Fat & Oil
• Fruits & Vegetables
Equipment Type (Revenue, USD Billion; 2018–2028)
• Conveyor Belts
• Hoppers & Silos
Processing Type (Revenue, USD Billion; 2018–2028)
Regional Outlook (Revenue in USD Billion; 2018–2028)
• North America
o Rest of the Europe
• Asia Pacific
o Rest of Asia-Pacific
• Middle East & Africa
• Latin America
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Identifying the basic business drivers, challenges, and tactics adopted:
• The report provides intrinsic details and fluctuating aspects that influence the commercial dynamics of the Food Processing & Handling Equipment market along with integral factors of the rise in the demand for the product have been mapped across vital geographical regions.
• An overview of the multifarious applications, business areas and the latest trends observed in the industry has been laid out by this study.
• Various challenges overlooking the business and the numerous strategies employed by the industry players for successful marketing of the product have also been illustrated.
• The research inspects the sales channels (indirect, direct, marketing) that companies have chosen for the primary product distributors and the superior clientele of the market.
Thank you for reading this article. You can also get chapter-wise sections or region-wise report coverage for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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