Food Processing Equipment Market Trends

Growth Drivers

• Processed fruits and vegetables becoming the talk of the town globally - The demand for the equipment required to prepare food has increased as a result of customers' growing need for processed food items in many different countries. The primary driver of the food processing market's widening is rising demand. due to developing countries' rapid industrialization and urbanization. Couples who live in dual-income families or who have demanding work and schedules are more likely to rely on packaged foods and beverages.
  
  Even in underdeveloped countries, there is a significant change in the food habits of many people. Regular meals are replacing packaged and processed food and beverages because they are so handy, both in developed and emerging nations. The processed food industry had a valuation of USD 2 trillion with over 4 million businesses having their presence globally.
• Surge in need in the emerging economies - In the upcoming years, growing areas like the Asia Pacific are predicted to dominate the food and beverage industry due to factors including population growth, rising disposable income, increased foreign direct investments, and shifting consumer tastes. Furthermore, it is projected that rising leisure food consumption in China, India, Indonesia, Malaysia, Japan, and other nations would spur industry expansion and, in turn, increase demand for the products in the years to come.

Challenges

• High initial investment cost - Food processing equipment especially those incorporating advanced automation and new technologies can be very expensive. This can be a barrier to entry for smaller companies or those looking to upgrade older equipment.
• Lack of skilled labor is poised to hinder the market growth in the near future.
• Escalating production cost is another important factor hampering the growth of the market.