Escalating demand across diverse range of application areas including food & beverages, pharmaceuticals, and personal care is expected to primarily drive the food production machinery market. The need to offer wide variety of food items at lower costs and easily available raw materials propel food production machinery market development. Further, technological innovations coupled with evolving lifestyles may also favorably impact the food production machinery market growth over the forecast period. Additionally, growing population’s ever-changing food preferences may spur market demand for various food products. Consequently, this may drive more investments in food production machinery market. Moreover, technological advancements and innovations compel manufacturers to replace their older machines with newer ones. All the aforementioned factors are anticipated to fuel the global food production machinery market expansion in the near future.
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Demand for a wider range of dietary products with value-added foods such as meat and chocolate may provoke producers to broaden their services and functions, and consequently make high investments in the market. Additionally, producers from fully industrialized nations may make high investments in new methods of processing fundamental products such as fruits, vegetables & grains, thus spurring the demand for highly advanced machineries, and driving the food production machinery market growth over the forecast period. Further, developing economies, rapid industrialization, and increasing disposable consumer incomes are expected to spur the food production machinery market expansion. Increasing demand for processed food items may extensively drive the sales for food production machinery over the forecast period. Additionally, demographic shifts such as increase in small households and aging population are expected to spur demand for more on-the-go food items. This may catapult food production machinery market augmentation over the forecast period. However, conformity to strict government regulations may pose as a key challenge to the food production machinery market.
The European and the North American food production machinery market is expected to gain prominence over the next few years owing to factors such as growing research & development, developing economy, and rising awareness about novice products. However, Asia Pacific is anticipated to dominate over the forecast period. This may be credited to the surging demand for processed food items in India, China, and Thailand. Additionally, the need to diversify manufacturing facilities and capacity to meet consumer demands for various value-added food items may further fuel food production machinery market demand in these regions.
Key vendors dominating food production machinery market comprise Key Technology Inc., Heat and Control Inc., Buhler AG, GEA Group, John Bean Technologies Corp., Tetra Laval, SPX Corp., Marlen International, Wenger Manufacturing Inc., Bucher Industries AG, and Atlas Pacific Engineering Company, Inc. Technological advancements and product differentiation by diminishing emissions and wastes are the key strategies implemented by various food production machinery market players.
Information Source: Grand View Research