The report predicts the global food processing equipment market to grow with a CAGR of 6.5% over the forecast period of 2018-2024.
The need to offer food products at affordable costs and innovation in the technologies are the major factors driving the growth of the food processing equipment market. Moreover, processed foods are obtained from laboratories and not nature. The foods are genetically modified and may cause gastrointestinal disorders, infertility and can damage your organs. This in turn is anticipated to hamper the growth of the food processed equipment market. Additionally, factors such as availability of raw materials, changing lifestyle are positively influencing the demand for food processing equipment market.
Furthermore, the increasing number of women in the workforce and the increasing number of nuclear families are leading to the replacement of regular food items with processed food or meals. This in turn is anticipated to open several doors of opportunity for the key players in the food processing equipment market over the upcoming years. On the other hand, new technological advancements, internet of things approach and digitization are boosting the market over the years to come.
Some of the prominent players in the global food processing equipment market are Buhler, Tetra Laval, GEA, Anko Food Machine, and Krones. In addition, the Buhler Group is the prominent provider of the optical sorter. Moreover, the same company has announced the new innovative technology called SORTEX PolarVision.