Market Leader – GEA Group AG, Middleby Corporation and JBT Corporation are focusing on developing new products and Expanding their business to Strengthen their marke position
The food processing and handling equipment market is projected to grow from USD 130.6 billion in 2021 to USD 175.1 billion by 2026, recording a compound annual growth rate (CAGR) of 6.0% during the forecast period. The demand for food and beverage processing and handling equipment’s is increasing significantly, due to the increasing consumption of food and beverage products in developing countries such as China, India, South Africa, and Brazil.
The key players in this market include GEA (Germany), Bühler (Switzerland), Alfa Laval (Sweden), JBT Corporation (US), SPX FLOW (US), Robert Bosch (Germany), IMA Group (Italy), Middleby Corporation (US), and Dover Corporation (US). Product launches, expansions & investments, mergers & acquisitions, agreements, joint ventures, and partnerships were the dominant strategies adopted by major players. These strategies have helped them to increase their presence in different regions.
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GEA Group is one of the leading technology suppliers for the food and beverage processing industry. The company provides customized solutions in food, dairy processing, dairy farming, beverage processing, pharma, chemical, marine, leisure & sport, land-based transportation, and utilities. The international industrial technology group specializes in machinery and plants as well as advanced process technology, components, and comprehensive services. The company operates in five segments: separation & flow technologies, liquid & powder technologies, food & healthcare technologies, refrigeration technologies, and farm technologies. In January 2019, GEA Group launched Dairy Robot R9500, which would help enhance the milking process. The launch of the product made the group a pioneer in the industry to launch Somatic Cell Count (SCC) monitors to continually analyze the milk flow from each quarter.
The Middleby Corporation is one of the leading global technology solution providers catering to the various solutions for commercial, industrial & residential food services worldwide. The company manufactures and distributes technologically automated systems and products to its customers, globally. The Commercial Foodservice Equipment Group has a broad portfolio of foodservice equipment, which enables it to serve virtually any cooking, warming, holding, refrigeration, freezing, and beverage application within a commercial kitchen or foodservice operation. This equipment is used across all types of foodservice operations, including quick-service restaurants, full-service restaurants, ghost kitchens, convenience stores, supermarkets, retail outlets, hotels, and other institutions. In September 2021, the company acquired Imperial Commercial Cooking Equipment Company (US), a manufacturer of a range of fryers, ovens, and countertop equipment. It helped improve the business sales of the company.
JBT Corporation (John Bean Technologies Corporation) is a leading global technology solution and service provider. It operates through two business segments, namely AeroTech and FoodTech. JBT AeroTech provides mobile equipment, fixed equipment, and airport services to airport authorities and passenger airlines. JBT FoodTech develops and delivers innovative freezing, protein processing, in-container processing, and fruit and juice processing solutions to multinational and regional food processors. The company’s FoodTech segment provides its services through protein, liquid food, and automated guided vehicle system subcategories. In the liquid food category, the company provides extraction, mixing, blending, filling, and packaging equipment. In November 2021, JBT acquired Urtasun Tecnología Alimentaria S.L which provides solutions for fruit and vegetable processing. This acquisition expanded the existing product offering of JBT in the fruits and vegetable processing domain. This would increase its market presence in the packaged and frozen market sector.
Related Reports:
Food Processing & Handling Equipment Market by Type (Food Processing, Food Service, Food Packaging), Application (Meat & Poultry, Bakery & Confectionery, Alcoholic, Non-alcoholic Beverages, Dairy), End-product Form and Region - Global Forecast to 2026
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