Worldwide Food & Beverage Processing Equipment Market 2018-2023: Based on Application, the Meat & Poultry Segment is Projected to Grow at the Highest Rate – ResearchAndMarkets.com

The “Food
& Beverage Processing Equipment Market by Type, Application, Mode of
Operation, End-Product Form, and Region – Global Forecast to 2023”
report has been added to ResearchAndMarkets.com’s
offering.

The food & beverage processing equipment market is estimated at USD
55.43 billion in 2018, and is projected to reach a value of USD 74.44
billion by 2023, growing at a CAGR of 6.1%.

The market is primarily driven by factors such as the rise in demand for
meat, poultry, dairy, bakery, and confectionery products and growth in
demand for processed and convenience food. However, the rise in costs of
production due to increasing energy and labor costs and growth in demand
for organic and fresh food products are few factors that are expected to
restrict the growth of the food & beverage processing equipment market
in the long run.

Based on the application of the food & beverage processing equipment,
the meat & poultry segment is projected to grow at the highest rate. The
expected rise in production units in countries such as the US and a
shift in the consumption patterns and preference for processed as well
as frozen meat products, with rise in the number of quick-service
restaurants in some developing countries of Asia such as India,
Indonesia, and Thailand, are supporting the growth of the market for
meat processing equipment in this region.

One of the driving factors for the increasing use of automated
processing equipment is its ability to provide accurate processing,
quick and reliable production processes, optimum utilization of time,
reduced labor costs, and controlled operation. Fully automatic
processing lines form a critical part of huge manufacturing units and
help achieve economies of scale, and has more opportunities for growth
due to multiple advantages offered.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20180713005255/en/

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