This report describes and explains the food product machinery market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global food product machinery market reached a value of nearly $39 billion in 2023, having grown at a compound annual growth rate (CAGR) of 4.7% since 2018. The market is expected to grow from $39 billion in 2023 to $53.8 billion in 2028 at a rate of 6.6%. The market is then expected to grow at a CAGR of 5.5% from 2028 and reach $70.3 billion in 2033.
Growth in the historic period resulted from the increased disposable income per capita, strong economic growth in emerging markets, increased consumption of bakery and dairy products and increased consumer preference for ready-to-eat meals. Factors that negatively affected growth in the historic period include shortage of skilled workforce.
Going forward, the increasing urbanization, expansion of the e-commerce industry, increasing demand for processed and packaged foods, government incentives for food processing sectors and growing food and beverage sector will drive the growth. Factors that could hinder the growth of the food product machinery market in the future include high costs associated with food products machinery.
The food product machinery market is segmented by type into dairy product plant machinery and equipment, bakery machinery and equipment, meat and poultry processing and preparation machinery, and other commercial food products machinery. The meat and poultry processing and preparation machinery market was the largest segment of the food product machinery market segmented by type, accounting for 33.9% or $13.2 billion of the total in 2023. Going forward, the bakery machinery and equipment segment is expected to be the fastest growing segment in the food product machinery market segmented by type, at a CAGR of 7.6% during 2023-2028.
The food product machinery market is segmented by product into depositors, extruding machines, mixers, refrigerators, slicers and dicers, and other products. The depositors market was the largest segment of the food product machinery market segmented by product, accounting for 25.1% or $9.8 billion of the total in 2023. Going forward, the depositors segment is expected to be the fastest growing segment in the food product machinery market segmented by product, at a CAGR of 7.5% during 2023-2028.
The food product machinery market is segmented by capacity into small, medium, and large. The medium market was the largest segment of the food product machinery market segmented by capacity, accounting for 50% or $19.5 billion of the total in 2023. Going forward, the large segment is expected to be the fastest growing segment in the food product machinery market segmented by capacity, at a CAGR of 7.3% during 2023-2028.
The food product machinery market is segmented by operation into autonomous, semi-autonomous, and manual. The autonomous market was the largest segment of the food product machinery market segmented by operation, accounting for 41% or $16 billion of the total in 2023. Going forward, the autonomous segment is expected to be the fastest growing segment in the food product machinery market segmented by operation, at a CAGR of 7.3% during 2023-2028.
Western Europe was the largest region in the food product machinery market, accounting for 43.6% or $17 billion of the total in 2023. It was followed by Asia-Pacific, North America and then the other regions. Going forward, the fastest-growing regions in the food product machinery market will be South America and Africa, where growth will be at CAGRs of 21.28% and 13.37% respectively. These will be followed by the Middle East and Asia-Pacific, where the markets are expected to grow at CAGRs of 12.58% and 6.48% respectively.
The global food product machinery market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 14.90% of the total market in 2023. Marel was the largest competitor with a 4.09% share of the market, followed by John Bean Technologies Corp. (JBT Corporation) with 2.13%, Heat and Control Inc. with 2.02%, The Middleby Corporation with 1.85%, GEA Group AG. with 1.43%, Duravant with 1.00%, Alfa Laval AB with 0.76%, Interfood Technology Ltd with 0.67%, Illinois Tool Works Inc. with 0.54% and Sumitomo Heavy Industries Ltd. with 0.40%.
The top opportunities in the food product machinery market segmented by type will arise in the bakery machinery and equipment segment, which will gain $5.8 billion of global annual sales by 2028. The top opportunities in the food product machinery market by product will arise in the depositors segment, which will gain $4.3 billion of global annual sales by 2028. The top opportunities in the food product machinery market by capacity will arise in the medium segment, which will gain $7.2 billion of global annual sales by 2028. The top opportunities in the food product machinery market by operation will arise in the autonomous segment, which will gain $6.7 billion of global annual sales by 2028. The food product machinery market size will gain the most in Argentina at $1.6 billion.
Market-trend-based strategies for the food product machinery market include focus on enhancing protein mixing efficiency to reduce product loss in food and beverage manufacturing, advanced baking technologies to enhance biscuit production, adopting cloud-based solutions for continuous monitoring and proactive maintenance, introducing tool-free valves for efficient liquid and steam control in food applications and pursuing strategic partnerships and collaborations.
Player-adopted strategies in the food product machinery market include focus on enhancing operational capabilities through strategic partnerships and expanding business through new product developments.
To take advantage of the opportunities, the analyst recommends the food product machinery companies to focus on enhancing mixing efficiency, focus on advanced baking technologies, focus on cloud-based solutions, focus on tool-free valves for enhanced efficiency, focus on bakery machinery and equipment segment, focus on extruding machines for growth, focus on large machinery, focus on autonomous machinery segment, expand in emerging markets, focus on strategic partnerships for innovation, provide competitively priced offerings, continue to use B2B promotions, participate in trade shows and events and focus on building strong relationships with end-users.
The global food product machinery market reached a value of nearly $39 billion in 2023, having grown at a compound annual growth rate (CAGR) of 4.7% since 2018. The market is expected to grow from $39 billion in 2023 to $53.8 billion in 2028 at a rate of 6.6%. The market is then expected to grow at a CAGR of 5.5% from 2028 and reach $70.3 billion in 2033.
Growth in the historic period resulted from the increased disposable income per capita, strong economic growth in emerging markets, increased consumption of bakery and dairy products and increased consumer preference for ready-to-eat meals. Factors that negatively affected growth in the historic period include shortage of skilled workforce.
Going forward, the increasing urbanization, expansion of the e-commerce industry, increasing demand for processed and packaged foods, government incentives for food processing sectors and growing food and beverage sector will drive the growth. Factors that could hinder the growth of the food product machinery market in the future include high costs associated with food products machinery.
The food product machinery market is segmented by type into dairy product plant machinery and equipment, bakery machinery and equipment, meat and poultry processing and preparation machinery, and other commercial food products machinery. The meat and poultry processing and preparation machinery market was the largest segment of the food product machinery market segmented by type, accounting for 33.9% or $13.2 billion of the total in 2023. Going forward, the bakery machinery and equipment segment is expected to be the fastest growing segment in the food product machinery market segmented by type, at a CAGR of 7.6% during 2023-2028.
The food product machinery market is segmented by product into depositors, extruding machines, mixers, refrigerators, slicers and dicers, and other products. The depositors market was the largest segment of the food product machinery market segmented by product, accounting for 25.1% or $9.8 billion of the total in 2023. Going forward, the depositors segment is expected to be the fastest growing segment in the food product machinery market segmented by product, at a CAGR of 7.5% during 2023-2028.
The food product machinery market is segmented by capacity into small, medium, and large. The medium market was the largest segment of the food product machinery market segmented by capacity, accounting for 50% or $19.5 billion of the total in 2023. Going forward, the large segment is expected to be the fastest growing segment in the food product machinery market segmented by capacity, at a CAGR of 7.3% during 2023-2028.
The food product machinery market is segmented by operation into autonomous, semi-autonomous, and manual. The autonomous market was the largest segment of the food product machinery market segmented by operation, accounting for 41% or $16 billion of the total in 2023. Going forward, the autonomous segment is expected to be the fastest growing segment in the food product machinery market segmented by operation, at a CAGR of 7.3% during 2023-2028.
Western Europe was the largest region in the food product machinery market, accounting for 43.6% or $17 billion of the total in 2023. It was followed by Asia-Pacific, North America and then the other regions. Going forward, the fastest-growing regions in the food product machinery market will be South America and Africa, where growth will be at CAGRs of 21.28% and 13.37% respectively. These will be followed by the Middle East and Asia-Pacific, where the markets are expected to grow at CAGRs of 12.58% and 6.48% respectively.
The global food product machinery market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 14.90% of the total market in 2023. Marel was the largest competitor with a 4.09% share of the market, followed by John Bean Technologies Corp. (JBT Corporation) with 2.13%, Heat and Control Inc. with 2.02%, The Middleby Corporation with 1.85%, GEA Group AG. with 1.43%, Duravant with 1.00%, Alfa Laval AB with 0.76%, Interfood Technology Ltd with 0.67%, Illinois Tool Works Inc. with 0.54% and Sumitomo Heavy Industries Ltd. with 0.40%.
The top opportunities in the food product machinery market segmented by type will arise in the bakery machinery and equipment segment, which will gain $5.8 billion of global annual sales by 2028. The top opportunities in the food product machinery market by product will arise in the depositors segment, which will gain $4.3 billion of global annual sales by 2028. The top opportunities in the food product machinery market by capacity will arise in the medium segment, which will gain $7.2 billion of global annual sales by 2028. The top opportunities in the food product machinery market by operation will arise in the autonomous segment, which will gain $6.7 billion of global annual sales by 2028. The food product machinery market size will gain the most in Argentina at $1.6 billion.
Market-trend-based strategies for the food product machinery market include focus on enhancing protein mixing efficiency to reduce product loss in food and beverage manufacturing, advanced baking technologies to enhance biscuit production, adopting cloud-based solutions for continuous monitoring and proactive maintenance, introducing tool-free valves for efficient liquid and steam control in food applications and pursuing strategic partnerships and collaborations.
Player-adopted strategies in the food product machinery market include focus on enhancing operational capabilities through strategic partnerships and expanding business through new product developments.
To take advantage of the opportunities, the analyst recommends the food product machinery companies to focus on enhancing mixing efficiency, focus on advanced baking technologies, focus on cloud-based solutions, focus on tool-free valves for enhanced efficiency, focus on bakery machinery and equipment segment, focus on extruding machines for growth, focus on large machinery, focus on autonomous machinery segment, expand in emerging markets, focus on strategic partnerships for innovation, provide competitively priced offerings, continue to use B2B promotions, participate in trade shows and events and focus on building strong relationships with end-users.
Table of Contents
1 Executive Summary
6 Market Characteristics
8 Supply Chain Analysis
9 Customer Information
10 Major Market Trends
11 Food Product Machinery Market - Macro Economic Scenario
12 Global Market Size and Growth
13 Global Food Product Machinery Market Segmentation
14 Food Product Machinery Market, Regional and Country Analysis
15 Asia-Pacific Market
16 Western Europe Market
17 Eastern Europe Market
18 North America Market
19 USA Market
20 South America Market
21 Middle East Market
22 Africa Market
23 Competitive Landscape and Company Profiles
26 Key Mergers and Acquisitions
27 Opportunities and Strategies
28 Food Product Machinery Market, Conclusions and Recommendations
29 Appendix
Executive Summary
Food Product Machinery Global Market Opportunities and Strategies to 2033 provides the strategists; marketers and senior management with the critical information they need to assess the global food product machinery market as it emerges from the COVID-19 shut down.Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 50 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors..
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
Description
Where is the largest and fastest-growing market for food product machinery? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The food product machinery market global report answers all these questions and many more.The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s history and forecasts market growth by geography. It places the market within the context of the wider food product machinery market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by type, by product, by capacity and by operation.
- Product Analysis the product analysis section of the report describes the leading products in the food product machinery market, along with key features and differentiators for those products.
- Supply Chain the supply chain section of the report defines and explains the key players in the food product machinery industry supply chain.
- Customer Information the chapter covers recent customer trends/preferences in the global food product machinery market.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- the report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the food product machinery market.
- Global Market Size and Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional and Country Analysis- Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by type, by product, by capacity and by operation in the market. Historic (2018-2023) and forecast (2022-2027) and (2027-2032) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities and Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions and Recommendations- This section includes recommendations for food product machinery providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
1) by Type: Dairy Product Plant Machinery and Equipment; Bakery Machinery and Equipment; Meat and Poultry Processing and Preparation Machinery; Other Commercial Food Products Machinery2 by Product: Depositors; Extruding Machines; Mixers; Refrigerators; Slicers and Dicers; Other Products.
3) by Capacity: Small; Medium; Large
4) by Operation: Autonomous; Semi-Autonomous; Manual
Key Companies Mentioned: John Bean Technologies Corp. (JBT Corporation); Heat and Control Inc.; the Middleby Corporation; GEA Group AG; Duravant
Countries: China; Australia; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam, Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Brazil; Mexico; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Chile; Argentina; Colombia; Peru; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; food product machinery indicators comparison.
Data Segmentation: Country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Companies Mentioned
- John Bean Technologies Corp. (JBT Corporation)
- Heat and Control Inc.
- The Middleby Corporation
- GEA Group AG
- Duravant
- Duravant
- Alfa Laval AB
- Interfood Technology Ltd.
- Illinois Tool Works Inc.
- Sumitomo Heavy Industries Ltd.
- SMC Corporation
- Antares Vision Group
- Hillenbrand, Inc.
- Peerless Food Equipment
- Mukunda Foods Private Limited
- IDAH
- Eliter Packaging Machinery
- Kyodo Senpaku Kaisha Ltd.
- Pulmuone Co., Ltd.
- Baader Food Processing Machinery
- E+V Technology
- EMYDEX Technology
- Zanichelli Meccanica S.p.A.
- ProMach Inc.
- Harpak-ULMA
- Zdravomat S.r.o.
- Carrefour Polska z.o.o.
- Prospomasz
- Buhler Group
- Blažek Glass
- JBT Corporation
- Wenger Manufacturing LLC.
- Filtration Automation Inc.
- SPX FLOW Inc.
- Paul Mueller Company
- Flavor Burst, LLC.
- Ampco Pumps Company LLC.
- Krones AG
- Gulftech International, Inc.
- Satake Corporation
- Ska Fabricating
- Vivanda
- Dover Corporation
- Stampede Culinary Partners
- D L Lee & Sons Inc.
- RodeoCPG
- Grupo KUO
- Hiperbaric
- Fortifi
- BVSP LTDA
- Agrodanieli
- Tecnoalimentos S. A.
- Metalúrgica Siemsen
- Tippmann Engineering
- Bigtem Makine
- Juran Technologies
- Lavie Bio
- ImaginDairy
- Tetra Pak
- Danone S.A.
- Almarai Dairy Company
- Nutridor Dairy Manufacturing LLC.
- Mashhad Machinery Co.
- Azarakhsh Co.
- Tadbik Ltd.
- FOMAK
- Alke Machinery
- Arla Foods
- Akyurek Technology
- Al Thika Packaging LLC.
- Nestle
- Emirates Kitchen Equipment
- C. Woermann (Nigeria) Ltd.
- SPM Instrument
- Industrial Food Equipment (IFE)
- Albrecht Machinery
- Trade Kings Group
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 410 |
Published | November 2024 |
Forecast Period | 2023 - 2033 |
Estimated Market Value ( USD | $ 39.05 Billion |
Forecasted Market Value ( USD | $ 70.34 Billion |
Compound Annual Growth Rate | 6.1% |
Regions Covered | Global |
No. of Companies Mentioned | 77 |