Innovation Key to Growth of Global Food Processing and Packaging Market, Reports BCC Research
/EINPresswire.com/ -- WELLESLEY, MA--(Marketwired - October 03, 2016) - Increasing use of international food processing technology, rising demand for quality products, and fulfilling consumer expectations are keying growth in the global market for food processing and packaging equipment. BCC Research reveals in its new report that these drivers and innovative technologies are transforming the food processing and packaging market into a high-volume industry.
The food processing equipment industry comprises two groups: processing machinery and equipment, and packaging machinery and equipment. The food and beverage industries use processing machinery and equipment to transform raw plant and animal materials such as raw grains, fish, meat and dairy into products for human consumption. These industries use packaging machinery and equipment to pack processed food. This equipment is located at the end of the production line.
The global market for equipment used in food processing and packaging should reach about $25.7 billion and $31.5 billion in 2015 and 2020, respectively, reflecting a five-year compound annual growth rate (CAGR) of 4.2%. The food packaging market is expected to grow from $14.4 billion in 2015 to nearly $17.3 billion in 2020, demonstrating a five-year CAGR of 3.6%. The food processing market should reach $11.2 billion and $14.2 billion in 2015 and 2020, respectively, on a five-year CAGR of 4.8%.
Innovation is the foremost driver for the growth of the food processing and packaging equipment industry. Manufacturers' attempts to gain a strong foothold in the industry are yielding better designs that offer increase productivity and cost reduction. Innovative and flexibly designed processing and packaging systems are the prerequisites for manufacturers to keep pace with trends in the food industry that may arise from economic factors of utilization and consumer spending.
Growing consumer preference for individual product packaging is driving the development of innovative packaging options and product inspection systems. In response, manufacturers are providing more efficient food packaging solutions with different materials such as environmentally friendly paper boxes, polyethylene-terephthalate laminated containers, super lightweight plastic film, and sterilized cans.
Robotics and state-of-art automated equipment both have increased product efficiency and consistency in the food processing and packaging segment. Advanced automated food processing equipment enables high-volume production of better quality products with a longer shelf life.
"The food processing sector is rapidly being transformed into a high-volume industry. Recent food technologies are used to meet the standard requirements of food safety and consumer demand," says BCC Research analyst Shalini S. Dewan. "The food industry is emerging as a high-growth, high-profit industry, with huge potential, especially in the food processing segment. New food processing and packaging technology is now focusing on retaining maximum nutrients and sensory properties and increasing the shelf life of food without any adverse effect on the quality of food."
Global Markets for Food Processing and Food Packaging Equipment (FOD066B) provides an updated review of the market, including basic design and its applications in various segments of food processing and packing such as meat, fish and poultry, milk, fruits and vegetables, beverages, industrial bakery products and grains. The report analyzes analyzes each market and its application, regulatory environment, new products and advancements, market projections and market shares. Global market drivers and trends, with data from 2014, estimates for 2015, and projections of CAGRs through 2020 also are provided.
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. Founded in 1971, BCC Research is a unit of Eli Global, LLC. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.
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