Growth Opportunities in the Food Processing and Packaging Equipment Sector, Global, 2024-2028

Food Processing 4.0 and Disruptive Technologies are Driving Transformational Growth

This analysis assesses the growth opportunities across the food processing and packaging equipment market. The application areas considered include beverages; fruits and vegetables; dairy; meat, fish, and poultry; bakery and confectionary; oils and fats; breakfast cereals, and snacks; and pet food. The equipment scope includes all processing and packaging machinery/equipment used across different end applications. This analysis provides a detailed examination of the value chain and the market activity of key players in the industry.

The global food processing and packaging equipment market generated revenues of $100.35 billion in 2023. The market will grow thanks to a greater focus on sustainability and stringent food safety and quality control standards. The food processing equipment market accounted for 71.2% of the revenue share in 2023. The meat, fish and poultry, dairy, and beverage segments will drive most of the growth in the food processing equipment market. Food processing 4.0 will be one of the key growth drivers for food processing and packaging equipment over the forecast period. The integration of AI, Internet of Things (IoT), smart sensors, digital twins, big data, and robotics will play a part in the food processing 4.0 concept.

Geographically, Asia-Pacific held the largest revenue share of the global food processing and packaging equipment market in 2023. The Asia-Pacific market is driven by evolving customer preferences, such as the demand for smaller portion food sizes.