The global prepared food equipment market is estimated to be valued at USD 10.4 billion in 2020 and is projected to reach USD 15.1 billion by 2026, recording a CAGR of 6.4%. Factors such as the changing food preferences, increase in the global food trade, lifestyle change, and the stringent regulations for import or export of food products is driving the growth of the prepared food equipment market.
The processing segment is projected to be the largest segment, by type, in the prepared food equipment market during the forecast period. Processing is an essential step for the conversion of any raw food to an eatable form.With the increasing demand for different food tastes such as ready-to-eat, on-the-go, and convenience foods, manufacturers are investing in prepared food equipment.
The growing trend of consuming savory & snack products among younger consumers also fuels the market for prepared food equipment.
The snacks & savory products segment is projected to account for the largest market during the forecast period. Snacks & savory products are very popular among the younger generation.It is also consumed as an evening food in various countries.
The rising health awareness among consumers and the consequent shift toward consuming healthy food products have led manufacturers to innovate products and solutions that can cater to consumers’ health objectives and requirements in this food segment.
The automatic segment is projected to grow at the highest CAGR during the forecast period. The automatic segment is projected to grow at the highest CAGR during the forecast period.The automated equipment reduces the cost of labor and production time, thus increasing production efficiency.
These factors drive the market for automated prepared food equipment.
The North America market is estimated to account for the largest market share due to the demand for bakery equipment exports.
North American has consumers who are willing to adopt tastes for different cuisines, and therefore there is growth for prepared foods like snacks, bakery, and prepared meals.The presence of various companies in this region creates more growth in the prepared food equipment market.
The automation industry’s growth and application of automation in foods like ready-to-eat food and on-the-go food products drives the demand for prepared food equipment market.
Break-up of Primaries • By Company Type: Supply-side -57%, Demand side - 43% • By Designation: CXOs - 29%, Managers - 21%, and Executives - 50% • By Region: North America - 34%, Asia Pacific - 16%, Europe - 37%, Rest of the World (RoW)** -13% ** RoW includes South Africa, Middle East and Rest in Africa.
Leading players profiled in this report • GEA Group (Germany), • Alfa Laval (Sweden), • JBT Corporation (US), • SPX FLOW (US), • Bühler (Switzerland), • Tetra Laval (Switzerland), • Dover Corporation (US), • Robert Bosch (Germany), • Krones (Germany), • Middleby Corporation (US), • Marel (Iceland), • IMA Group (Italy), • Multivac (Germany), • Ali Group (Italy) • Lyco Manufacturing, Inc (US), • Heat and Control, Inc. (US), • BigTem Makine (Turkey), • Hup Sheng Machinery & Industry (Malaysia) • Sumpot (China), • Hosokawa Alpine (Bayern).
Research Coverage This report segments the prepared food equipment market based on type, application, mode of operation and region. In terms of insights, this research report focuses on various levels of analyses—competitive landscape, end-use analysis, and company profiles—which together comprise and discuss the basic views on the emerging & high-growth segments of the prepared food equipment market, the high-growth regions, countries, government initiatives, market disruption, drivers, restraints, opportunities, and challenges.
Reasons to buy this report • To get a comprehensive overview of the prepared food equipment market • To gain wide-ranging information about the top players in this industry, their product portfolios, and key strategies adopted by them • To gain insights about the major countries/regions in which the prepared food equipment market is flourishing
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