Food and beverage processing equipment continues to be high demand. Requests for automation integration and advancements in customized equipment could drive the market past $78 billion by 2022, according to business consulting firm Frost & Sullivan. Changing dietary preferences worldwide, improved economic conditions in emerging nations as well as a demand for healthy, safe food and beverages, has influenced the development of processing and packaging machinery that support those trends, thereby creating an upswing in the market. Because of this upswing, the firm predicts that the global food and beverage processing and packaging market will expand at a compound annual growth rate (CAGR) of 4.1 percent from 2017 to $78.6 billion in 2022.
“With increasing food and beverage product demand and a growing emphasis on food safety, food processors are reliant on equipment manufacturers to provide processing and packaging equipment that is agile and utilizes advanced technologies to minimize energy usage, operate at a higher efficiency and improve yield,” said Arun Ramesh, team lead, agriculture and nutrition in visionary science at San Antonio, Texas-based Frost & Sullivan, in a statement.