According to a new market research report titled, 'Food Processing Equipment Market Size, the food processing equipment market is projected to reach $103.82 billion by 2031, at a CAGR of 5.6% during the forecast period 2024–2031.

The global consumption of processed foods has seen a significant uptick in recent decades. This surge in demand can be attributed to several interconnected factors, including the global trend of urbanization, fast-paced lifestyles, a growing prevalence of nuclear families, an increasing number of working women, and the limited time available for food preparation.

Processed foods are a vital part of the global food supply and contribute to food security (ensuring that sufficient food is available) and nutrition security (ensuring that food quality meets human nutrient needs). Further, there have been major shifts in dietary patterns, such as from the consumption of basic staples to more diversified diets.

Consumers are increasingly preferring more value-added food categories, with their health goals greatly impacting food processors. This increasing consumer preference for processed foods has led to increased production by food processors.

As the demand for processed foods is on the rise, technological advancements have become necessary for the growth of the sector and the diversification of the processed food manufacturers' existing production capabilities.

Also, there is a growing demand for the processing of basic products such as fruits, vegetables, and grains, which require technologically advanced equipment. Therefore, there is a need to adopt new methods, technologies, and machinery that will minimally impact the sensory qualities of food, such as color and texture, in the food processing industry.

Thus, to gain a technological edge in the market, food processors are exploring new processing and preservation technologies with the help of advanced processing equipment, thereby fueling the adoption of food processing equipment across the globe.

In recent years, the global food processing equipment market has witnessed several mergers & acquisitions; expansions; partnerships, agreements, and collaborations; product launches; and other developments.

Key Findings in the Global Food Processing Equipment Market Study:

Based on type, the food processing equipment market is segmented into meat, poultry, and seafood processing equipment; bakery processing equipment; beverage processing equipment; dairy processing equipment; chocolate and confectionery processing equipment; fruit and vegetable processing equipment; snacks processing equipment; and other food processing equipment.

In 2024, the meat, poultry, and seafood processing equipment segment is expected to account for the largest share of 25.5% of the global food processing equipment market. However, the beverage processing equipment segment is projected to register the highest CAGR  during the forecast period of 2024–2031. 

Based on the mode of operation, the food processing equipment market is segmented into semi-automatic and automatic. In 2024, the semi-automatic segment is expected to account for the larger share of 60.3% the global food processing equipment market.

The segment's large share is attributed to the benefits of semi-automatic food processing equipment, such as greatly improved labor productivity, flexibility in production processes, and technical & economic feasibility. However, the automatic segment is projected to register the highest CAGR in the global food processing equipment market during the forecast period of 2024–2031.

Based on region, the global food processing equipment market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest share of 43.0% of the food processing equipment market, followed by Europe and North America. The Asia-Pacific food processing equipment market is estimated to be worth USD 30.38 billion in 2024. Asia-Pacific's major market share is attributed to the increasing demand for processed food products in emerging and developing countries of the region, including India, China, Indonesia, and Thailand; rising investments from major food and beverage players; and government support to promote the food processing sector.