The global plant-based food processing equipment market is expected to experience substantial growth in the coming years, reaching a projected value of €7.26 billion by 2030.
This growth is forecasted to occur at a compound annual growth rate (CAGR) of 5.2% from 2023 to 2030, according to a comprehensive report.
One of the driving factors behind the growth of the plant-based food processing equipment market is the increasing demand for plant-based foods.
As consumers become more aware of the environmental and health benefits associated with sustainable food products, the preference for plant-based alternatives continues to rise. This trend has led to more diversified operations within the market, offering a wide range of nutritional plant-based products to meet consumer demands.
Innovations in plant-based food processing equipment have also contributed to the market’s growth.
Manufacturers are continuously developing new and improved equipment to enhance processing efficiency, reduce costs, and improve the quality of plant-based food products.
Mixers and grinders, in particular, are expected to register the highest CAGR during the forecast period. These equipment offer benefits such as low maintenance costs, increased productivity, uniform mixing and grinding, and improved process hygiene.
The mode of operation segment of the market shows that the semi-automatic category is projected to account for the larger share of the global plant-based food processing equipment market in 2023.
Semi-automatic equipment offers advantages such as ease of installation, flexibility in production processes, lower investment costs compared to fully-automated equipment, and technical and economic feasibility.
When considering the production facility size, small and medium-scale production facilities are expected to hold the larger share of the market in 2023.
This can be attributed to increased government support for developing small-scale processing enterprises and the growing number of small and medium-sized enterprises (SMEs) offering plant-based food products.
Plant-based food processing equipment provides benefits such as increased productivity, reduced labor costs, and high profitability, which drive their adoption in small and medium-scale production facilities.
Regionally, Asia-Pacific is anticipated to register the highest CAGR during the forecast period. The rapid growth in this region is attributed to increasing government support for small and medium-scale enterprises, technological advancements in the food industry, and the expanding initiatives by major market players.
The report also addresses several key questions about the market, including the current value of revenue generated, the projected demand growth for the next five to seven years, historical market size and growth rate, factors impacting market growth at the global and regional levels, major opportunities for existing players and new entrants, segments that have gained traction in recent years, key geographic trends, major players in the market, recent developments, and their impact on the market.
The high cost of food processing equipment acts as a barrier to market growth. Additionally, the shortage of skilled labor poses a challenge for manufacturers in the industry.
