Published Date: 31-May-2022
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According to a new report, published by KBV research, The Global Hot Food Processing Equipment Market size is expected to reach $30.3 billion by 2028, rising at a market growth of 6.0% CAGR during the forecast period.
The Food Service Industry segment is showcasing a CAGR of 6.2% during (2022 - 2028). The rising demand for the food service industry is attributed to the factor that foodservice outlets serve meals and snacks to customers in order to eat right away. This category includes full-service restaurants, quick-service restaurants, cloud kitchen cafeterias, along with other enterprises that prepare and sell food to the general public. Fast-food and quick-service restaurants have majorly evolved into important providers of mass-produced cuisine, attracting an increasing number of people to test their offerings.
The Automatic segment has acquired maximum revenue share in the Global Hot Food Processing Equipment Market by Mode of Operation in 2021, thereby, achieving a market value of $14.3 billion by 2028. More consistent food quality, higher compliance with legal & customer criteria, excellent food stability & safety, and efficient operation are expediting the growth of this segment. Automated food technologies, such as pasteurizers, evaporators, ovens, heat exchangers, and sterilizers, are currently being used by processed food manufacturers to improve traditional manufacturing processes and create high-quality food products. Food color, texture, flavor, and the processing method can all be kept consistent with automation.
The Baking Equipment segment is leading the Global Hot Food Processing Equipment Market by Type in 2021, thereby, achieving a market value of $7.71 billion by 2028. The rising growth of the segment is owing to the increased consumption of ready-to-eat foods linked to consumers' hectic lifestyles. Additionally, increased snack consumption would also play a major role in increasing the demand for cakes and pastries. The hot food processing equipment market is also predicted to develop due to the rising demand for bakery products.
The Asia Pacific market dominated the Global Hot Food Processing Equipment Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $10.7 billion by 2028. The Europe market is estimated to witness a CAGR of 5.6% during (2022 - 2028). Additionally, The North America market would experience a CAGR of 5.3% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Alfa Laval AB, John Bean Technologies Corporation, GEA Group AG, Marel Ltd., Tetra Laval International S.A. (Delaval), SPX Flow, Inc., Buhler Group, Marlen International (Duravant LLC), Heat and Control, Inc., and TNA Australia Pty Limited.
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