According to a new market report published by Lucintel, the future of the food processing market looks promising with opportunities in beverage, dairy, meat & poultry, convenience food & snacks, fruits & vegetables, and seafood industries. The food processing market is expected to reach an estimated $4.1 trillion by 2024 with a CAGR of 4.3% from 2019 to 2024. The major drivers for this market are increasing demand for ready-to-eat food products, changing lifestyle, and increase in nuclear families and working women.
Browse 122 market data tables and 144 figures spread through 237 pages and in-depth TOC on “Food Processing Market"
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In this market, different types of food processing such as beverages, dairy, meat & poultry, convenience food & snacks, fruits & vegetables, seafood, and others are used as application. Lucintel forecasts that processed fruits & vegetables segment is expected to witness the highest growth over the forecast period due to inclination of people towards vegan diet.
Within this market, organized and unorganized sectors are involved in the food processing activities. Organized sector food processing is expected to witness the highest growth during the forecast period due to significant increase in number of chain outlets, standalone eateries, and restaurant’s.
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Asia Pacific will remain the largest region over the forecast period due to increasing demand towards ready-to-eat foods and increasing working professionals and students. The growing health consciousness is enabling the consumers to move towards healthy and high quality food products.
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Emerging trends, which have a direct impact on the dynamics of the industry, include development of food processing technologies that reduce detrimental changes in food and maintain the nutritional value. Cargill Foods, Nestle, PepsiCo, Archer Daniels Midland, and Unilever are among the major processed food manufacturers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the food processing market by application type, end use industry, and region and has come up with a comprehensive research report entitled “Growth Opportunities in the Food Processing Market 2019-2024: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the food processing market by application type, end use industry, and region as follows:
By Application Type [$B shipment analysis from 2013 to 2024]:
- Beverages
- Dairy
- Meat & Poultry
- Bakery
- Convenience Food & snacks
- Fruits & Vegetables
- Confectionery
- Seafood
- Pet Food
- Other Applications
By Product Type [$B shipment analysis from 2013 to 2024]:
- For Beverages
- Alcoholic Beverages
- Non-Alcoholic Beverages
- For Dairy
- Milk & Cream
- Yogurt & Curdled Milk
- Others
- For Meat & Poultry
- Canned Meat & Poultry Food
- Frozen Meat & Poultry Food
- For Convenience Food & Snacks
- Ready Meals
- Chips
- Nuts & Seeds
- Others
- For Fruits & Vegetables
- Canned
- Frozen
- Dried
- For Seafood
- Canned
- Frozen
- Dried
- Others
By End Use Industry [$B shipment analysis from 2013 to 2024]:
- Organized Sector
- Unorganized Sector
By Region [$B shipment analysis for 2013 to 2024]:
- North America
- United States
- Canada
- Mexico
- Europe
- United Kingdom
- Germany
- Asia Pacific
- Japan
- China
- The Rest of the World
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This 237-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/food-processing-market.aspx or helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers following 11 key questions:
Q.1 What are some of the most promising, high-growth opportunities for food processing market by application (beverages, dairy, meat & poultry, convenience food & snacks, fruits & vegetables, seafood, and others), product type, industry type (unorganized, and organized), and by region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and reasons behind them?
Q.7 What are some changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via product substitution?
Q.11 What M&A activity has occurred in the last 5 years?
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