Food Processing Machinery Market in the US 2016-2020
About Food Processing Industry
The food processing industry is being transformed into a high-volume industry, especially the baked food sector. The industrial baking processing machinery segment is gaining prominence over all other segments, and accounts for the largest portion of the overall sales revenue. This trend is expected to gain further traction during the forecast period, as players are trying to design their product to provide efficiency and ease of automation. Functions that were earlier performed manually, such as applying toppings on cakes, are now being automated.
Technavio’s analysts forecast the food processing machinery in US to grow at a CAGR of 2.37% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the food processing machinery in US for 2016-2020. To calculate the market size, the report considers the revenue generated through the retail sales of food processing machinery to individual consumers.
The market is divided into the following segments based on machinery type:
Technavio Announces the Publication of its Research Report – Food Processing Machinery in US 2016-2020
Technavio recognizes the following companies as the key players in the food processing machinery in US: GEA, JBT, Meyer Industries, Paul Mueller, and SPX FLOW.
Other Prominent Vendors in the market are: Atlas Pacific Engineering, BAADER, Bettcher Industries, Bucher Industries, Bühler, Heat and Control, Mallet, Marel, MIWE Michael Wenz, Rheon Automatic Machinery, and Wenger Manufacturing.
Commenting on the report, an analyst from Technavio’s team said: “Rise of contract manufacturers will be a key trend for market growth. Food and beverage companies are partnering with contract manufacturers to cut overhead costs, remain competitive in the market, and maintain consistency. Contract manufacturers help in providing manufacturing services to food and beverage companies. They produce the given product by using food formulas and processing procedures provided by the company. By using the services of contract manufacturers, food companies can concentrate on marketing their food products rather than processing.”
According to the report, one of the key trends for market growth will be the focus on food safety. In the US, food manufacturers are required to update their food processing machinery and facilities in order to comply with the regulations of the US Food and Drug Administration (FDA) on safety in manufacturing facilities. These regulations are formulated to ensure prevention of foodborne diseases. In 2015, it was estimated that every year, one in every six Americans fall sick due to foodborne diseases, more than 126,000 individuals hospitalize due to such concerns, and more than 3,000 individuals die.
Further, the report states that in the US, the food and beverage manufacturers are choosing different alternatives to purchase new food processing equipment, which is affecting the demand for new food processing machinery in the market. Companies are buying second hand or rebuilt machinery instead of new food processing machinery, as the cost of refurbished machinery is almost half the cost of investing in new machinery. Some of the companies are also retrofitting their current machinery to upgrade its capabilities and improve efficiency. Companies custom manufacture or assemble their own food processing machinery, further posing as a challenge to the food processing machinery market in the US.
GEA, JBT, Meyer Industries, Paul Mueller, SPX FLOW, Atlas Pacific Engineering, BAADER, Bettcher Industries, Bucher Industries, Bühler, Heat and Control, Mallet, Marel, MIWE Michael Wenz, Rheon Automatic Machinery, and Wenger Manufacturing.
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