Major companies in the food product machinery market include Tetra Laval International S. A, Krones AG, GEA Group, Bühler Group, The Middleby Corporation, JBT Corporation, Dover Corporation, Illinois Tool Works Inc, CIMC Enric Holdings Limited, and Sumitomo Heavy Industries.
New York, July 08, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Food Product Machinery Global Market Report 2022" - https://www.reportlinker.com/p06282446/?utm_source=GNW
The global food product machinery market is expected to grow from $35.86 billion in 2021 to $39.51 billion in 2022 at a compound annual growth rate (CAGR) of 10.2%. The market is expected to grow to $55.56 billion in 2026 at a compound annual growth rate (CAGR) of 8.9%.
The food product machinery market consists of sales of food product machinery by entities (organizations, sole traders, and partnerships) that produce equipment such as dairy product plant machinery and equipment, bakery machinery and equipment, meat and poultry processing and preparation machinery, and other commercial food production machinery.
The main types of food product machinery are dairy product plant machinery and equipment, bakery machinery and equipment, meat and poultry processing and preparation machinery, and other types.The dairy product plant machinery and equipment refer to the machinery that involves the processing of dairy products.
The various products include depositors, extruding machines, mixers, refrigerators, slicers and dicers, and other products.The various capacity includes small, medium, and large.
The various operations include autonomous, semi-autonomous, and manual.
Western Europe was the largest region in the food product machinery market in 2021.The Asia Pacific was the second largest region.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The food product machinery manufacturing market growth is aided by stable economic growth forecasted in many developed and developing countries. The International Monetary Fund (IMF) predicts that the global GDP growth will be 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Stable economic growth is expected to increase investments in the end-user markets, thereby driving the market during the forecast period.
The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the food product machinery manufacturing market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally.COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing.
The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and spread globally including Western Europe, North America, and Asia.Manufacturers depend heavily on the supply of raw materials from domestic and international suppliers.
As many governments restricted the movement of goods across countries and locally, manufacturers had to halt production due to a lack of raw materials.The outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021.
However, it is expected that the food product machinery manufacturing market will recover from the shock across the forecast period as it is a ’black swan event and not related to ongoing or fundamental weaknesses in the market or the global economy.
Bakery machinery and equipment manufacturers are now offering high-performance continuous baking ovens to improve production efficiency and consistency in quality.Unlike batch ovens, continuous baking ovens allow cooking or baking process on a continuous line thus providing consistency in the operation.
These ovens can be used for high-temperature cooking, impingement, convection, super-heated vapor, and linear or spiral cooking.Continuous baking ovens provide faster bake times and throughput, precise control, improved consistency in quality, and minimal product waste compared to traditional batch ovens.
In addition, continuous baking reduces labor costs and saves energy by up to 15%.
The countries covered in the food product machinery market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam.
Read the full report: https://www.reportlinker.com/p06282446/?utm_source=GNW
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