A new market report from Research and Markets predicts continued growth for the global food processing equipment market for plant-based alternatives.
According to Research and Markets, the global market for plant-based food processing equipment could reach approximately US$7.79 billion by 2030, with a compound annual growth rate (CAGR) of up to 5.2% from 2023 to 2030.
The market is characterized by greater diversification of operations and is benefiting primarily from increasing consumer awareness and preferences for sustainable food products.
The high growth of the plant-based food processing equipment market is mainly attributed to factors such as increasing demand for plant-based food, innovation in plant-based food processing equipment, and increasing investments in the plant-based food processing industry. However, the growth of this market is being held back by the high cost of food processing equipment.
On the basis of type, the mixers and crushers segment is expected to register the highest CAGR during the forecast period. The growth of this segment is due to the benefits that mixers and grinders offer, including low maintenance costs, increased productivity, consistent mixing and grinding, and improved process hygiene.
Based on the size of manufacturing plants, the global plant-based food processing equipment market is segmented into small-medium-sized manufacturing plants and large-scale manufacturing plants. In 2023, the small and medium-sized production equipment segment is expected to have the largest share of the global plant-based food processing equipment market. The large market share of this segment is due to increasing government support for the development of small processing plants and the increasing number of SMEs offering plant-based food products. In addition, the benefits of plant-based food processing equipment, such as increased productivity, reduced labor costs and high profitability,
More on the new report at www.researchandmarkets.com.
