Global Bulk Handling Equipment for Food and Beverage Industry: Market Drivers and Forecasts by Technavio

Technavio has published a new report on the global bulk handling equipment for food and beverage industry from 2017-2021. (Graphic: Business Wire)

???pagination.previous??? ???pagination.next???

LONDON--()--Technavio market research analysts forecast the global bulk handling equipment for the food and beverage industry to grow at a CAGR of close to 5% during the forecast period, according to their latest report.

The market study covers the present scenario and growth prospects of the global bulk handling equipment for the food and beverage industry for 2017-2021. The report also lists the food and beverage sectors as the two end-user segments, of which the food sector accounted for more than 70% of the market share in 2016.

This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing

Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.

Technavio analysts highlight the following three market drivers that are contributing to the growth of the global bulk handling equipment for the food and beverage industry:

  • Rising disposable incomes in emerging economies
  • Increased government support for processed foods
  • Shift toward automation and modernization of processes

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.

Rising disposable incomes in emerging economies

There has been a rise in demand for processed foods due to improvements in the economic conditions of developed countries. This has also been accompanied by an increase in disposable income in developing countries such as China, India, and Saudi Arabia. Consumers are more inclined to buy protein-rich foods and prefer buying food products that have high value, quality, and long shelf life.

This has resulted in increased demand for food processing machinery and solutions to meet the production requirements of F&B companies. Advances in the agricultural sector, particularly, pertaining to the methods of production, harvest handling, processing, and logistics are driving the demand for processed fruits and vegetables to increase the shelf life and provide variety. These developments have attracted international investors to invest in manufacturing facilities in emerging economies, thereby driving the demand for bulk handling equipment.

Increased government support for processed foods

Government support for processed products in fruits and vegetables will aid in the growth of the food processing sector. This will propel the growth of the food industry, thereby driving the demand for bulk handling equipment. For instance, in 2016, the governments of Canada and Manitoba planned to invest approximately USD 582,000 in state-of-the-art equipment to encourage local companies to produce nutritious and flavorful purees.

Similarly, the Indian government has initiated the Make in India Movement that mainly focuses on local manufacturing. The food processing sector in India is very limited but has huge growth potential as it directly links India's economy, industry, and agriculture. The Government of India is focusing on boosting the food processing sector in India, which will further drive the demand for bulk handling equipment.

“Mega food parks that have common processing facilities such as pulping, packaging, storage, and logistics and common utilities such as electricity, road, sewage, and water facilities are being promoted in India. Two mega food parks have already been set up, and nearly 42 mega food parks have been sanctioned and are expected to be completed during the forecast period,” says Anju Ajaykumar, a lead analyst at Technavio for unit operations research.

Shift toward automation and modernization of processes

Another driver influencing the growth of the market is the automation and modernization of process lines in manufacturing plants. Most of the food processing lines have automation and motion controls such as material conveying and positioning, drying, heating, and cooling. They also require other process parameters such as cleanliness, gentle handling, control of pressure, and temperature. These food processing machineries are also integrated with packaging and labeling equipment. With the increase in process automation in F&B processing, the market for bulk handling equipment is expected to grow during the forecast period.

“Rising personal income, demand for variety in foods, increased meat consumption, and shift toward dietary foods will drive the demand for processed foods, which in turn, will drive the market for bulk handling equipment,” says Anju.

Browse Related Reports:

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

Technavio research analysts forecast the global bulk handling equipment for the food and beverage industry to grow at a CAGR of almost 5% until 2021.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com