The global fruit and vegetable processing equipment market size is projected to reach USD 3,320 million by 2021, growing at a CAGR of close to 5% over the forecast period, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the global fruit and vegetable processing equipment market for 2017-2021. The research report provides actionable intelligence alongside the market size of various segments and details of the major factors influencing the market.
APAC: largest fruit and vegetable processing equipment market
“APAC is the largest and fastest growing regional segment of the fruit and vegetable processing equipment market, driven by fast-growing economies such as India, China, and Indonesia,” says Anju Ajaykumar, one of the lead analysts at Technavio for engineering tools research.
China is the largest contributor to the market from APAC, due to a shift in dietary habits and preference towards value-added foods. Also, there is an overall increase in disposable incomes in APAC, which is increasing the demand for processed and frozen foods.
North America: home to largest manufacturer of food processing machinery
The fruit and vegetable processing equipment market in North America is expected to grow moderately during the forecast period. The market growth will be driven by the US, which is the largest global manufacturer of food processing machinery. The country exports machinery to other regions, supported by duty-free or preferential duty rates, increased competition from low-cost products, and increased investments in the overseas market. These factors aid in bringing in a high amount of revenue to the North American market, thereby driving its growth.
Europe: rising consumption of processed vegetables driving market segment
“Europe is driven by stringent food safety rules and regulations regarding residue level limit and stability of raw material supply. Also, consumers in Europe are increasing their consumption of processed vegetables, thus driving the demand for processed vegetables,” says Anju.
The increase in production of raw materials from APAC countries is leading to increased imports and a stable supply of fruits and vegetables to EMEA. Germany is the largest importer of processed fruits and vegetables in Europe, followed by the UK, France, Belgium, and the Netherlands.
The top vendors in the global fruit and vegetable processing equipment market highlighted in the report are:
Read more: Global Fruit and Vegetable Processing Equipment Market Driven by Increase in Demand for Frozen Foods: Technavio