The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The food product machinery market has witnessed robust growth in recent years, with the market size surging from $39.82 billion in 2023 to $42.73 billion in 2024 at a notable compound annual growth rate (CAGR) of 7.3%. This expansion is attributed to various factors such as the growth of the food processing industry, heightened hygiene and safety standards, rising consumer demand for convenience, and the globalization of food supply chains.

Current Market Overview

• Market size expected to reach $55.85 billion in 2028.
• Anticipated CAGR of 6.9% in the forecast period.
• Factors driving growth include sustainability, industry 4.0 integration, customization, digitalization, and global market expansion.
• Major trends include automation, clean label, smart packaging, reduced waste, energy efficiency, and personalized food processing.

Expanding Food and Beverage Industry Catalyzes Growth

The increased scope of the food and beverage industry is set to be a key driver for the food product machinery market. The industry encompasses companies involved in processing, packaging, and distributing raw food materials, transforming them into consumer food products. The application of food product machinery enhances efficiency, consistency, and safety in production processes. For instance, the retail sales value of fortified or functional foods and beverages in the United States is projected to reach $79.1 billion in 2025, signaling a significant market expansion. Leading companies contributing to this growth include Tetra Laval International S.A., Krones AG, GEA Group, and others.

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Innovative Advancements in Food Product Machinery

Major players in the market are actively engaged in innovating food product machinery to gain a competitive edge. Notable advancements include products like the CutMaster Generation 3, an integrated food processing machine employing AC technology for the preparation of sausages, poultry, fish, and plant-based products.

• In May 2022, GEA Group AG introduced the latest version of the CutMaster, featuring integrated AC drives for enhanced flexibility, reliability, hygiene, and longevity.
• The market is segmented by type (dairy product plant machinery, bakery machinery, meat and poultry processing machinery, and others), product (depositors, extruding machines, mixers, refrigerators, slicers & dicers, and others), capacity (small, medium, large), and operation (autonomous, semi-autonomous, manual).

Regional Dominance

• Western Europe emerged as the largest region in the food product machinery market in 2023.

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The Food Product Machinery Global Market Report 2023  provides comprehensive insights on the food product machinery market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the food product machinery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –

Industrial Machinery Global Market Report 2023

Food And Beverages Market 2023

Crop Production Global Market Report 2023

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