Food Processing and Handling Equipment Market to Reach USD 133.39 billion by 2027; Increasing Applications in Diverse Industries will Emerge in Favor of Market Growth, says Fortune Business Insights™

Pune, Oct. 12, 2020 (GLOBE NEWSWIRE) — The global food processing and handling equipment market size is projected to reach USD 133.39 billion by the end of 2027. The increasing use of automated concepts such as AI and IoT has enabled a wider application scope. According to a report published by Fortune Business Insights, titled “Food Processing and Handling Equipment Market Size, Share & COVID-19 Impact Analysis, By Equipment Type (Processing Equipment, Packaging Equipment, and Service Equipment), By Application (Bakery and Confectionery Products, Meat and Poultry Products, Dairy Products, Beverages, and Others) and Regional Forecast, 2020-2027, the market was worth USD 96.29 billion and will exhibit a CAGR of 4.1% during the forecast period, 2020-2027.To get to know more about the short-term and long-term impact of COVID-19 on this market,
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Covid-19 Pandemic to Result in a Decrease in the Demand for Food Processing and Handling EquipmentThe recent coronavirus outbreak has brought about a sense of panic among people across the world. The rapid spread of the disease has compelled businesses to shut down or operate with minimum resources. With most companies operating at lesser manpower and labor, the pandemic has had a daunting impact on almost all major sectors. The efforts taken to curb the spread of the disease have had an adverse effect on several industries across the world. The increasing safety and hygiene concerns regarding food and food products will lead to a decrease in the use of the products across the world. As a result, the pandemic will have a negative impact on the growth of the overall food processing and handling equipment market in the coming years.
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Food processing and handling equipment are tools that are used to carry out several processes in the food and beverage industry. The products are used to store, manufacture, as well as for packaging purposes. The use of concepts such as artificial intelligence and other automated tools will have a massive impact on the growth of the overall market in the coming years. The increasing investments in the research and development of efficient tools associated with food processing and equipment will bode well for the growth of the overall market in the coming years. The presence of several large scale manufacturers in this sector will also emerge in favor of growth of the overall market.  The ability of these equipment to enhance the overall safety and improve reliability will fuel the demand for the product across the world.Constant Product Innovations are Consequential to Increasing R&D InvestmentsThe report encompasses several factors that have contributed to the growth of the overall market in recent years. Among all factors, the increasing number of product launches has had the highest impact on market growth. The constant product innovations are a result of the increasing investments in the integration of concepts such as AI and IoT. The massive potential and subsequently high demand for the product has encouraged these companies towards investing more in technologically advanced concepts. In August 2019, GEA announced the launch of a new product in the food processing and handling equipment sector. The company introduced ‘GEA Smartpacker TwinTube,’ a product that is integrated with advanced smart web tracking, which helps optimize the overall packaging process. Increasing number of such product innovations will emerge in favor of market growth.
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Asia Pacific to Emerge Dominant; Increasing Disposable Income to Prove Beneficial for Market GrowthThe report analyses the latest market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in Asia Pacific is projected to emerge dominant in the coming years. The increasing disposable income in countries such as China and India has had a massive impact on the growth of the market in recent years.  As of 2019, the market in Asia Pacific was worth 28.01 billion and this value is projected to increase at a considerable pace in the coming years. The market in North America will derive growth from the increasing preference for frozen foods across this region.List of Key Companies profiled in Food Processing and Handling Equipment Market report:Buhler Ag (Uzwil, Switzerlnd)JBT (Chicago, Illinois)I.M.A. INDUSTRIA MACCHINE AUTOMATICHE S.P.A.  (Bologna, Italy)Tetra Pak International S.A. (Pully, Switzerland)The Middleby Corporation (Elgin, Illinois)Welbilt (New Port Richey, Florida)Krones AG (Neutraubling, Germany)GEA Group Aktiengesellschaft (Düsseldorf, Germany)ALFA LAVAL (Sweden)Dover Corporation (Downers Grove, Illinois)Industry Developments:March 2020: The Middleby Corporation announced that it has completed the acquisition of Deutsche Beverage Technology.
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Detailed Table of Content:IntroductionDefinition, By SegmentResearch Methodology/ApproachData SourcesExecutive SummaryMarket DynamicsMacro and Micro Economic IndicatorsDrivers, Restraints, Opportunities and TrendsImpact of COVID-19Short-term ImpactLong-term ImpactCompetition LandscapeBusiness Strategies Adopted by Key PlayersConsolidated SWOT Analysis of Key PlayersPorter’s Five Force AnalysisGlobal Food Processing and Handling Equipment Market Share Analysis and Matrix, 2019Key Market Insights and Analysis, By SegmentsGlobal Food Processing and Handling Equipment Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027Market Sizing Estimations and Forecasts – By Equipment Type (Value)Processing EquipmentPackaging EquipmentService EquipmentMarket Sizing Estimations and Forecasts – By Application (Value)Bakery and Confectionery ProductsMeat and Poultry ProductsDairy ProductsBeveragesOthers (Grains, Fruits, Nuts and Vegetables, etc.)Market Analysis, Insights and Forecast – By Region (Value)North AmericaEuropeAsia PacificMiddle East & AfricaLatin America
TOC Continued..
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