The Prepared Food Equipment Market was valued at USD 10.36 Billion in 2020 and is projected to reach 16.74 Billion by 2028, at a CAGR of 6.1% during the forecast period. Technological advancements in automation, rising investments in the research and development of food processing equipment, and growing demand for productive and efficient advanced machinery are widely believed to be encouraging the industry of the prepared food equipment market.
The design, operation, and control of these large plants have been advanced in recent years by the use of computers, and the availability of data banks has simplified the production process. Modern process and plant design must reduce raw materials costs, capital investment, plant energy consumption, inventory in the plant, and the number of pollutants generated. The new plants need improved process flexibility, safety, and control technology. Cost analysis is an integral part of the process and plant design. Fixed capital investment in process equipment, manufacturing costs, and general expenses should be considered in the early stages of design. The fixed capital investment in process plants consists of a number of items, which depend on the type of plant and the manufactured products.
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The various contributors involved in the value chain of the prepared food equipment market include component suppliers and prepared food equipment manufacturing companies such as GEA Group, Alfa Laval, The Middleby Corporation, Marel, and Buhler. Other players in the industry include Welbilt, Hughes Equipment Company, Heat and Control Inc., Bigtem Makine, and Hup Sheng Machinery & Industry are major players in prepared food equipment market.
Further key findings from the prepared food equipment report suggest:
- Asia-Pacific segment is expected to be a rapidly growing market with a CAGR 7.5% for prepared food equipment during the forecast period. Food manufacturers are intensely focused on production efficiency, processing time, and quality, and hygiene of food products drives the need for prepared & convenience foods, subsequently driving the market for prepared food equipment. The increasing demand for packaged food prepared meals, ready to eat foods, snacks, and savory products, and meat and seafood products are expected to be fueling the expansion within the global prepared food equipment market.
- Prepared food equipment is intended in such the most straightforward way that it can provide fresh and safe foods. The machine is intended with conveyors, blanchers, washers, peelers, cutters, coolers, mixers, and fillers. Prepared food equipment is additionally involved in processing, pre-processing, and packaging food. The semi-automation technique of prepared food equipment advantages in increasing efficiency in packaging foods and helps to avoid wasting time and increase productivity.
- The growing investments in R&D for faster packaging and overall demand come from the busy lifestyles to consume packaged foods that can be driving the world prepared food equipment market. Therefore, Marel (Iceland) signed an agreement to acquire Cedar Creek Company, an Australian provider of specialized software and hardware solutions to meat, poultry, and seafood processors. Marel has successfully completed the acquisition; the acquisition is fully in line with Marel’s strategic objective to be a leading global supplier of advanced standard equipment, full solutions, software, and services to the poultry, meat, and fish industries.
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Segments covered in the report:
Based on Type, the market has been segmented as follows: (Revenue, USD Million; 2020-2028)
- Sorting & grading
- Mixing & cutting
- Others (Conveying, picking, and placing)
- Seasoning & coating
- Others (Stretching, molding & pressing, heating, sterilization, and refrigerating equipment)
Based on Application, the market has been segmented as follows: (Revenue, USD Million; 2020-2028)
- Bakery & confectionery products
- Meat & seafood products
- Snacks & savory products
- Sauces, dressings, and condiments
- Dairy & refrigerated products
- Ready-to-eat products
Based on Mode of Operation, the market has been segmented as follows: (Revenue, USD Million; 2020-2028)
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Regional Outlook (Revenue, USD Million; 2020-2028)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Rest of Latin America
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Key questions answered:
- Which of these regions – North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, dominates market share?
- What is the outcome of the COVID-19 Impact Analysis performed in the report?
- What are the revenue estimations for every region in the Prepared Food Equipment market?
- What is the current market valuation of each region and the estimated market size by the end of the forecast period?
- What is the projected growth rate of the global Prepared Food Equipment market?
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