Segments - Food Processing Market by Type (Depositors, Extruding Machines, Mixers, Refrigeration, Slicers & Dicers, and Others), Category (Semi-Automated and Fully Automated), Application (Beverages, Dairy, Meat & Poultry, Bakery and Confectionery, Convenience Food & snacks, Fruits & Vegetables, and Others), and Region (Asia Pacific, North America, Europe, Latin America, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
The global food processing market size was valued at USD 169.39 Billion in 2022 and is likely to reach USD 301.09 Billion by 2031, expanding at a CAGR of 6.6% during the forecast period, 2023–2031. The market growth is attributed to the rising demand for processed food and advancements in technology in food processing systems.
Industries use food processing methods to transform raw food into new products. It is the transformation of raw materials or agricultural goods into directly consumable food. It provides several benefits to consumers and businesses as well as foods with long shelf life.
Distribution, convenience of preparation, preservation, and less susceptibility to deterioration than fresh food are all advantages of food processing. Additionally, it lowers the risk of foodborne illness and enhances food flavor.
Food processing systems help to boost the quality of the food as they add minerals and vitamins, and it make the food more nutrient-dense. Nearly every food needs processing to make it more digestible and safer for health.
The market report finds that the COVID-19 pandemic has had a severe effect on the market as the restrictions hampered food manufacturing and supply chain systems. The disruptions in the food manufacturing systems led to a shortfall in essential food items, a significant rise in the price of food products, and others.
Rising focus on clean labeled and organic food products along with growing disposable income are projected to propel the market in the coming years. Clean labeled foods help remove preservatives, stabilizers, and additives in order to make natural food products.
Growing population, rising urbanization, along with increasing demand for poultry and meat are expected to drive the market during the forecast period. Increasing investments by market players in the development of food processing machinery are projected to propel the market in the coming years.
High degree of processing is expected to remove essential nutrients from the food which hampers the market. Increasing the processing level separates the plant fiber and nutrients. Moreover, heating damages the necessary minerals and vitamins in the products, thus restraining the market.
Technological advancements in food processing machinery are expected to create lucrative opportunities in the market. Technologies including electric heating, extrusion, and fermentation are some techniques used for food processing. Electric heating methods such as microwaves, induction heating, and radio frequencies are evolving in the industry with new launches and developments.
The report on the food processing market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
Attributes |
Details |
Report Title |
Food Processing Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2022 |
Historic Data |
2016–2021 |
Forecast Period |
2023–2031 |
Segmentation |
Type (Depositors, Extruding Machines, Mixers, Refrigeration, Slicers & Dicers, and Others), Category (Semi-Automated and Fully Automated), and Application (Beverages, Dairy, Meat & Poultry, Bakery, Convenience Food & snacks, Fruits & Vegetables, Confectionery, and Others) |
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report |
The AFE Group Ltd.; Atlas Pacific; B&K ENGINEERING GROUP; Buhler; GEA Group Aktiengesellschaft; Heat and Control, Inc.; JBT.; Krones AG; Marel; and Ziemann Holvrieka. |
In terms of type, the food processing market can be divided into depositors, extruding machines, mixers, refrigeration, slicers & dicers, and others. The refrigeration segment held a considerable share of the market in 2020, owing to rising demand for refrigerators for storing food items for long duration. Food refrigeration is needed as it lessens the risk of any undesirable change in food and maintains the temperature.
The extruding machines segment is estimated to expand at a significant CAGR during the forecast period, as it ensures that the food is uniform in shape and size. Extrusion in the food processing system involves pushing the base metal through a die to make objects with a specific shape. It is an essential food processing machinery as it manufactures mass food through a continuous system and secures product uniformity.
On the basis of category, the market is divided into semi-automated and fully automated. The fully automated segment is expected to dominate the market during the forecast period. the high usage of fully automated food processing machinery in the food industry is propelling the segment's growth.
With the evolving systems in automation, food processing systems are also revolutionizing as food automation helps reduce manual tasks including picking and dropping food products and others.
Based on application, the food processing market is fragmented into beverages, dairy, meat & poultry, bakery & confectionery, convenience food & snacks, fruits & vegetables, and others. The bakery & confectionery segment is anticipated to grow at a considerable pace during the forecast period, due to increasing production of bakery products along with changing dietary patterns among people.
Furthermore, an estimation shows that the number of bakeries in the U.S. was approximately 8700 in 2022 and there has been a 0.7% increase since 2021. Thus, with the growing number of bakeries the market growth is further boosting in the forecast period.
The beverage segment constitutes a significant market share. It is projected to expand at a rapid rate during the forecast period, owing to rising consumption of soft drinks, alcohol, and fruit juices. The increasing demand for beverages at events and parties to offer hospitality to guests is propelling the segment's growth.
On the basis of region, the global food processing market can be split into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific holds a major market share, owing to the growing demand for ready-to-eat foods and the rising number of working professionals & students.
People belonging to the middle-class income group are conscious about their health and desire processed food, which is nutritious and healthy. The market in North America is projected to expand at a significant CAGR during the forecast period, due to mergers and acquisitions conducted by key market players in the region.
Key players in the food processing market include the AFE Group Ltd.; Atlas Pacific; B&K ENGINEERING GROUP; Buhler; GEA Group Aktiengesellschaft; Heat and Control, Inc.; JBT.; Krones AG; Marel; and Ziemann Holvrieka.
These players engage in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence.
The global food processing market size was valued at USD 169.39 Billion in 2022 and is likely to reach USD 301.09 Billion by 2031
The forecast for the food processing market is for 2023-2031
The key players in the food processing market include AFE Group Ltd., Atlas Pacific Engineering Company Inc., B.K Engineers, Buhler, GEA Group, Heat and Control, Inc., JBT Corporation, Krones AG, Marel, ZIEMANN HOLVRIEKA
Asia Pacific held the largest market share in the market.
The bakery and confectionery segment had the largest market share.