7% growth forecast for food processing equipment market

A compound annual growth rate of around 7.0% between 2017 and 2024 for the food processing equipment market is good news for food processors as it indicates growing demand for processed foods.

The Zion Market Research Global Food Processing Equipment report states that this market, worth around AU$72 billion in 2017, will increase in value to roughly AU$113 billion by 2024. The report covers the food processing equipment market by equipment type (mixers, depositors, refrigeration, slicers and dicers, thermal equipment, extruding machines and others) as well as by application (dairy sector, fisheries, meat and poultry, fruits and vegetables, bakery and confectionery) and by regions (North America, Europe, Asia Pacific and rest of world). The increase in demand for dairy, meat and poultry and seafood will fuel the increased demand for equipment.

The report also includes detailed profiles of key players such as A&B Process Systems, Scherjon, SPX, Maschinenbau Rud Baader, Marlen International, Anko Food Machine Company, Paul Mueller and Bettcher Industries.