Report ID: SQMIG20E2054
Report ID:
SQMIG20E2054 |
Region:
Global |
Published Date: July, 2001
Pages:
165
|
Tables:
90 |
Figures:
76
Food Processing Equipment Market Driver
Customers' evolving health concerns and dietary plans in both developing and developed regions are expected to drive market growth in the coming years. Governments and numerous food associations are pushing food processing machine manufacturers to spend in R&D, which will increase the revenue of the food processing technology and equipment market. For example, in the U.K. A food standards agency based in the United Kingdom provides several training sessions to food processing equipment manufacturers in order to maintain food hygiene and thus improve the dietary benefits of the food product. Food standards are intended to compel value chain partners to adhere to severe government requirements in order to ensure the safety of ready-to-eat meals.
Food Processing Equipment Market Restraint
The worldwide food processing equipment industry has major market challenges due to a lack of competent workforce. Lockdowns caused by the COVID-19 epidemic have shut down operations across economies, resulting in considerable market constraint. The incorporation of IoT Technology in the Food Processing area, such as BAADER revamping its Food Processing Equipment into modern digital solutions to create an automated food chain, is projected to drive the market positively in the coming years.
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REQUEST FREE CUSTOMIZATIONFood Processing Equipment Market size was valued at USD 48.84 billion in 2019 and is poised to grow from USD 50.8 billion in 2023 to USD 69.3 billion by 2031, growing at a CAGR of 4% in the forecast period (2024-2031).
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Report ID: SQMIG20E2054