PORTLAND, Oregon, January 8, 2019 /PRNewswire/ --
Increased inclination toward processed & packaged food, rise in disposable income, and surge in demand for processed quality food are expected to propel the growth of the Southeast Asia food processing equipment market
Allied Market Research published a report, titled, "Southeast Asia Food Processing Equipment Market by Type (Meat, Poultry, and Seafood Processing Equipment; Bakery Processing Equipment; Beverage Processing Equipment; Dairy Processing Equipment; Chocolate and Confectionery Processing Equipment; Fruits and Vegetables Processing Equipment; and Other Food Processing Equipment): Opportunity Analysis and Industry Forecast, 2018-2025". The report offers insights on the major market segments, top investment pockets, key player positioning, drivers & opportunities, and strategic developments in the industry. According to the report, the Southeast Asia food processing equipment market was pegged at $993.9 million and is estimated to reach $1,434.9 million by 2025, registering a CAGR of 4.7% during the forecast period.
Increased preference toward processed food, rise in disposable income, and pressing need to replace old equipment drive the growth of the Southeast Asia food processing equipment market. However, high cost of machines and stringent regulations & international quality standards hamper the market growth. On the contrary, surge in demand for processed quality food across several developed Southeast Asian countries is expected to create lucrative opportunities for the market players in the near future.
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Bakery processing equipment segment to manifest fastest growth by 2025
The bakery processing equipment segment is expected to portray the fastest CAGR of 6.3% during the forecast period, owing to change in lifestyle and high disposable income of the population. However, meat, poultry, and seafood processing equipment segment held the largest share in 2017, contributing about 48% of the total market revenue, as these equipment facilitate in retaining maximum nutrients and sensory properties as well as help extend the shelf life of food without impacting the food quality. Other segments, such as beverage processing equipment, dairy processing equipment, chocolate, and confectionery processing equipment, fruits and vegetable processing equipment, other food processing equipment are analyzed in the report.
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Indonesia to create lucrative opportunities through 2025
Indonesia held the largest share in 2017, contributing about 41% of the total market, owing to the large population base of millennials who have adopted foreign dietary habits on account of increased traveling and influence of social media. Moreover, the region is expected to register the fastest CAGR of 5.2% during the study period. The other regions analyzed in the report include Thailand, Malaysia, Philippines, Vietnam, Singapore, and rest of South-East Asia.
Major market players
The key players analyzed in the report include Alfa Laval AB, Baader Group, Buhler AG, Euroasia Food Equipment Sdn Bhd, Gold Peg International Pty Ltd, Keto Agricultural Engineering Sdn. Bhd., Krones AG, Marlen International, Inc., Paul Mueller Company, The Middleby Corporation, Yanagiya Machinery Co., Ltd., Auto Kinetics (M) Sdn Bhd, Bucher Industries AG, Emura Food Machine Co., Ltd., GEA Group AG, Heat and Control Inc., Key Technology Inc., Marel HF, Nichimo International Inc., Tetra Pak International S.A., and Topsteel Holdings Pte Ltd.
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