China will account for nearly 40% of all food processing machinery by 2019
From Food Production Daily
Global demand for food processing machinery will rise by 7.6% per annum to $73bn in 2019, according to The Freedonia Group industry research firm. Its study, ‘World Food Processing Machinery’, claims growth will be driven by industrializing 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,” said Gleb Mytko, analyst, The Freedonia Group.
He added 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 firms 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,” said Mytko.
Food processing machinery sales growth in Canada and Mexico is also expected to accelerate.