Food Processing Equipment Market to be Worth $98.57 Billion by 2030

Food Processing Equipment Market by Type (Meat, Poultry, and Seafood Processing Equipment, Beverage Processing Equipment, Bakery Equipment, Dairy Processing Equipment, Fruit and Vegetable Processing Equipment), Mode of Operation (Semi-Automatic, Automatic), and Geography – Global Forecast to 2030

The Food Processing Equipment Market is projected to reach $98.57 billion by 2030, at a CAGR of 5.8% during the forecast period of 2023 to 2030. The growth of the food processing equipment market is driven by increasing demand for processed foods, a growing focus on food and worker safety, a growing need to increase productivity, food manufacturers’ increasing focus on reducing production costs, and government support to promote the food processing industry. However, the high cost of equipment and the consumers’ increasing inclination towards minimally processed food products restrain the growth of this market.

In addition, emerging economies such as Latin America, Southeast Asia, and Africa and a rapidly growing plant-based foods market are expected to generate growth opportunities for the players operating in this market. However, the lack of trained labor is a major challenge for market growth.