Published Date : Aug 29, 2016
ALBANY, NY, Aug 29, 2016: MarketResearchReports.biz has recently announced the inclusion of a new market research study to its comprehensive collection of research reports. The 64-page research report, titled “Global Food Processing Machinery Market 2016-2020,” offers a thorough overview of the global food processing machinery market, focusing on the current trends that are estimated to encourage the growth of the market in the next few years.
As per the research report, the global market for food processing machinery is anticipated to register a 7% CAGR between 2016 and 2020. The rising demand for processed and packaged food products is one of the key factors expected to augment the growth of the overall market in the next few years. In addition, rising disposable incomes of population in developing countries and growing global awareness regarding food safety are some of the other factors projected to fuel the growth of the global food processing machinery market in the next few years.
On the basis of application, the market has been categorized into bakery, dairy, and poultry, meat, and seafood. At present, the poultry, meat, and seafood segment accounts for a share of 30% in the global market and is expected to remain at the leading position over the next few years as well. The fast growth of this segment can be attributed to the growing consumption of poultry, meat, and seafood across the globe as the consumer becomes more health conscious.
On the basis of geography, Europe and APAC are leading the global food processing machinery market, collectively holding a 70% share at present. The APAC region is anticipated to exhibit a robust growth rate in the next few years as well, owing to the presence of a large number of seafood, poultry, and meat machinery manufacturing corporations in this region. Thus, this segment is projected to lead the global food processing machinery market in the near future.
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The food processing machinery market across the globe is extremely competitive in nature with numerous local and international players operating in it. The leading players in the market are focusing on expanding their horizon in developing countries across the globe in order to reduce their cost of operation. Key players in the market are competing with each other on the basis of product cost, performance, after-sales services, and technological developments.
The prominent players engaged in the global market for food processing machinery include GEA, Tetra Laval, Buhler, Krones, and Anko Food Machine. Some of the other key players listed in the research report are Alfa Laval, Paul Mueller, C. van't Riet, A&B Process Systems, Farm and Ranch Depot, John Bean Technologies, Marel, Marlen International, SPX, JBT, IDMC, Feldmeier Equipment, and Scherjon. The key strategies adopted by the leading players have been mentioned in the study to give a clear understanding of the overall market.
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