According to a new report from the Freedonia Research Group, worldwide demand for food processing machinery is projected to advance nearly eight percent per annum to $73 billion in 2019.
Driving the growth are six major trends, according to the research group:
- the transition from manual food processing to mechanical food processing in developing countries
- the replacement of older food processing equipment worldwide
- increasing demand for processed foods in developing countries as personal incomes rise and urbanization increases
- a worldwide dietary shift toward higher value-added foods
- the development of new health and organic food and beverage products
- government initiatives to support local food and beverage production in countries like Indonesia and Russia.