by Type (Meat, Poultry, and Seafood Processing Equipment, Bakery Equipment, Beverage Processing Equipment, Dairy Processing Equipment, and Fruit and Vegetable Processing Equipment) - Global Forecast to 2027 , in terms of value, the food processing equipment market is expected to grow at a CAGR of 7.2% from 2020 to reach $98.4 billion by 2027. In terms of volume, the market is expected to grow at a CAGR of 7.6% from 2020 to reach 56,233.9 thousand units by 2027.
Food processing is considered one of the fastest-growing industries, globally. The food processing sector s contribution to gross value added (GVA), employment, and investment is significant worldwide. This industry s growth is supported by the availability of a large raw material base; therefore, a wide range of instruments and equipment are used in the food processing industry.