A food manufacturing business requires planning, and a marketable niche product that gains a loyal local or regional audience. The food product machinery manufacturing market comprises of sales of food product machinery that are used for manufacturing products such as dairy products, bakery products and equipment, meat and poultry processing and preparation, and many other commercial food production machinery used over.
According to study, “Food Product Machinery Manufacturing Global Market Report 2019” the key companies operating in the global food product manufacturing market are Tetra Laval International S A, GEA Group, Buhler AG, John Bean Technologies, Krones AG.Some of key market players are offering product differentiated by the reduced emissions and utilizing natural resources efficiently. They have further focused for conducting business over protecting public health and environment safety.
The machinery and the equipment manufacturers are further offering the high-performance baking ovens for improving the production efficiency and consistency in the quality. Comparing the batch ovens, the continuous baking oven allows the cooking or baking process on a continuous line which increases the consistency in operation. These type of ovens have been used for high-temperature cooking, impingement, convection, super-heated vapor, and linear or the spiral type of cooking. The continuous baking ovens further provide the faster baking and precise control, and improved consistency in quality.
Based on equipment type, food product manufacturing market is segmented into processing equipment and pre-processing equipment. Processing equipment segment holds major share in market owing to rise in demand across food & beverage industry. All the equipment consists of extruding, drying, coating; filter and pressing equipment are used to process raw ingredients by forming processed ready-to-eat food products. Based on automation type, market is segmented into automatic and semi-automatic. Automatic segment is expected to witness higher growth due to rise in adoption of technology-based processing machines during the forecast period. In addition, based on application, market is segmented into meat & poultry products, bakery & confectionery products, beverages, dairy products and others (nuts, grains, fruits and vegetables etc.).
The food product manufacturing market is driven by growth in food & beverage shipments, followed by rise in industrialization, new product introduction, increase in disposable income of consumers, growth in population and increase in demand across the pharmaceuticals, food & beverage and personal care. However, compliance to stringent government regulations may impact the market. Moreover, increase in demand for processed food products is a key opportunity for market.
Based on geography, the Asian-Pacific is a leading region in global food product manufacturing market owing to escalating demand for processed food products in India, China, Indonesia and Thailand. Whereas, the North-American and European regions are estimated to witness higher CAGR due to rise in research & development (R&D) investments, growth in economy and surging awareness about new products over the forecast period. In near future, it is anticipated that the market will be reached at rapid pace as a result of expansion of production facilities & capacity to meet consumer demand for more value-added food categories during the forecast period.
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Ankur Gupta, Head Marketing & Communications