The Global Prepared Food Equipment Market Size is valued 12.88 billion in 2022 and is predicted to reach 25.09 billion by 2031 at 7.95% CAGR during the forecast period for 2023-2031.
Prepared food is described as food that is being created for immediate consumption. Equipment indulgence is a crucial step in the preparation of prepared meals. The market for prepared food equipment is expanding as a result of factors like increased consumer demand for ready-to-eat food, rising consumer disposable income, and rising investments in food processing equipment R&D.
On the other hand, the expanding global food retail sector will in the period mentioned above continue to open up new chances for the prepared food equipment market. Moreover, brightly coloured ovens and fryers are examples of these innovative designs. In addition, the latest technology substitutes sleek touchscreens for large buttons and knobs.
However, the market for prepared food equipment will be constrained during the time mentioned earlier by high initial installation costs and a lack of constant electricity in rural locations.
Recent Developments:
- In Jan 2020, Middleby (US) bought RAM Fry Dispensers, a division of Automated Equipment LLC. RAM is a market leader in automated frozen fry dispensing equipment. Operators in the prepared food equipment sector need solutions to address labor costs and availability.
- In May 2019, Buhler introduced Tubex Pro as a cutting-edge weighing system. This would enable the business to provide its customer's more advanced technology because weighing devices are helpful for detecting even small weight deflections.
Competitive Landscape:
The major key players in the prepared food equipment market are:
- GEA Group
- Alfa Laval
- JBT Corporation
- SPX FLOW
- Tetra Laval
- Dover Corporation
- Robert Bosch
- Krones
- Middleby Corporation
- Ali Group
Market Segmentation:
The prepared food equipment market is segmented based on type, application, and modes of operation. Based on type, the market is bifurcated into cleaning, sorting, and grading equipment, peeling and cutting equipment, and others (conveying, picking, and placing). Based on application, the market is divided into snacks & savory products, prepared meals, sauces, dressings & condiments, bakery & confectionery products, dairy & refrigerated products, and meat & seafood products. The market is divided into automatic, semi-automatic, and manual on the bases of operation.
Based on application, the snacks and savory product segment is a major contributor to the prepared food equipment market
The snacks and savory product segment is anticipated to dominate the market during the forecast period. Every household consumes snacks & savory products as it is easily available and tasty for consumption. With the growing concerns for healthy food options, varieties of snacks are made available, gluten-free, lactose-free, and rich in nutrients. The shift in consumer preferences toward savory snacks and the consumer's growing interest in the increasingly popular personalized foods made with specific components. Snacks and savory goods are typically produced using prepared food equipment. Food that has been prepared is designed to be eaten right away. Also, people with sweet cravings always have a high demand for snacks.
The semi-automatic segment witnessed growth at a rapid rate
The semi-automatic segment is expected to dominate the market during the forecast period. The growth in this segment is because of technological advancements. Focus shifting from a long time lag to a decrease in time lag in the production process also significantly drives this segment to grow. The growth in this segment can be attributed to technological developments; small pack sizes, shifting consumer preferences, and the decrease in the time lag in the production process are significant factors influencing the growth of the prepared food equipment market.
The Asia Pacific prepared food equipment market holds a significant revenue share in the region
Asia-Pacific holds a dominant position in the market for prepared food equipment. Due to the region's shifting fashion trends and the rising disposable income of young people. The expanding retail sector and rising number of professionals will likely drive up demand for prepared food equipment in the Asia Pacific. The Asia-Pacific market is anticipated to be driven by equipment innovations for prepared foods, and North America is anticipated to expand shortly. The main drivers behind the expansion of the prepared food equipment market globally are the wide-ranging acceptance and accessibility of prepared food equipment in the US, Canada, and Mexico, as well as their growth potential due to the region's rapid adoption of new technologies and booming automation market.
Prepared Food Equipment Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2022 |
USD 12.88 billion |
|
Revenue forecast in 2031 |
USD 25.09 billion |
|
Growth rate CAGR |
CAGR of 7.95% from 2023 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Million, and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
|
Forecast Year |
2023-2031 |
|
Report coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments covered |
Type, Application, And Modes of Operation |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; South East Asia |
|
Competitive Landscape |
GEA Group, Alfa Laval, JBT Corporation, SPX FLOW, Tetra Laval, Dover Corporation, Robert Bosch, Krones, Middleby Corporation, and Ali Group. |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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