USA, Cleveland. Global demand for food processing machinery will rise by 7.6% per annum to $73bn in 2019, according to The Freedonia Group industry research company.
Its study, “World Food Processing Machinery, claims growth will be driven by industrialising nations, where there is a demand for processed foods. Sales of processing equipment are expected to rebound in several West European countries, including France, Spain, and the UK. The replacement of older equipment will be a major driver of growth. Developing economies experiencing rising personal incomes will see a dietary shift to more processed foods which in turn will generate related processing machinery demand.
In response to the demand for more processed foods, numerous food and beverage companies in developing areas will transition from manual to mechanical food processing to increase output and develop products.
China is projected to account for nearly 40% of all new food processing machinery to 2019. Although Western Europe’s food processing machinery market is forecast to advance at a below-average pace through 2019, the region is still expected to post significant gains.
But, North America is projected to record weak food processing machinery sales growth through 2019. After a period of rapid gains, product demand in the US is expected to advance only 2.2% per year between 2014 and 2019. A significant portion of older equipment in use in the US was replaced in recent years.
Food processing machinery sales growth in Canada and Mexico, on the other hand, is expected to accelerate.