World Food Processing Machinery Market
World demand to rise nearly 8% annually through 2019
LONDON, Oct. 7, 2015 /PRNewswire/ --
Worldwide demand for food processing machinery is projected to advance nearly eight percent per annum to $73 billion in 2019. Six major trends will stimulate growth through 2019:
- The transition from manual food processing to mechanical food processing in developing countries.
- The replacement of older food processing equipment worldwide.
- Government initiatives to support local food and beverage production in countries like Indonesia and Russia.
- Increasing demand for processed foods in developing countries because of personal income gains and urbanization.
- A worldwide dietary shift toward higher value-added foods such as meat, wine, and chocolate.
- The development of new health and organic food and beverage products.
Beverage, candy processing equipment to grow fastest
Although global demand for all major product types will expand at a healthy pace through 2019, beverage and chocolate and confectionery processing equipment are projected to register the fastest gains. Because demand for beverages and chocolate confectionery products in most developing countries is currently quite limited, both segments have significant growth potential. As the discretionary incomes of households in Central and South America and the Africa/Mideast and Asia/Pacific regions increase, they will purchase more beverages and chocolate and confectionery products, which are often considered to be luxury goods. To take advantage of new sales opportunities, foreign multinationals are expected to build many new production facilities in developing countries, generating additional demand for beverage, and chocolate and confectionery processing equipment. Global sales of processing machinery for meat, poultry, and fish, and dairy products and milk are also forecast to post strong advances between 2014 and 2019. Rising personal incomes in many industrializing countries will lead to an increase in the number of households that can afford these products, as well as higher local meat, poultry, fish, milk, and dairy product output. Additionally, more farmers in developing countries will gain access to the capital needed to invest in large-scale animal and dairy production, leading to an increase in local beef, pork, chicken, seafood, milk, and dairy product availability and related processing equipment demand. Government programs aimed at bolstering local meat, poultry, fish, milk, and dairy production will contribute to gains as well. Finally, suppliers of meat, poultry, and fish, and dairy product machinery will benefit greatly from increasing foreign participation in many developing markets. In addition to building new production facilities, multinationals have launched initiatives to improve the quality of dairy and meat, poultry, and seafood products, and encourage sustainability and standardization in developing areas. As these agricultural commodities become safer and more widely available, food and beverage companies will increase production of associated processed foods, generating additional machinery demand. Sales of more mature product types -- such as industrial bakery equipment and fruit, nut, and vegetable machinery -- are projected to increase at a slower pace through 2019. Because these foods are staples in most countries, there is already significant demand for related processing equipment.
Study coverage
Details on these and other key findings are contained in World Food Processing Machinery, an upcoming Freedonia industry study priced at $6300. It presents historical data (2004, 2009, 2014) and forecasts (2019, 2024) for supply and demand, plus by machinery type, 6 regions and for 20 countries. The study also considers key market environment factors, evaluates company market share and profiles 45 global players.
Download the full report: https://www.reportbuyer.com/product/3035795/
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