Food Processing Equipment Market size is expected to reach USD 89.31 billion by 2028
Food Processing Equipment Industry Overview The global food processing equipment market size was valued at USD 55.50 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.1% from 2021 to 2028. Population expansion, coupled with the rising per capita disposable income, is expected to result in an increased demand for meat and poultry and greater consumption of processed products, thus boosting the market growth over the forecast period. These systems are widely utilized across numerous applications, such as bakery and confectionery, meat, seafood and poultry, dairy, and grains, owing to their inherent advantageous characteristics, such as quality control, durability, hygiene, and preservation. The product is increasingly being utilized in the end-use industries, specifically in Asia Pacific, where rising domestic manufacturing and consumer income levels are driving innovation in this sector. The food and beverage market in developing regions, s...