A three-pronged approach was followed for deducing the food processing equipment market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:
Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for food processing equipment market to gather the most reliable and current information possible.
Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of food processing equipment market data depending on the type of information we’re trying to uncover in our research.
Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.
Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.
Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.
Qualitative Functional Deployment (QFD) Modelling for market share assessment.
Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.
Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.
Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.
This step also entails the finalization of the report scope and data representation pattern.
Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.
The food processing equipment market was categorized into four segments, namely mode (Automatic, Semi-automatic), application (Bakery & Confectionaries, Meat, Poultry, & Seafood, Beverage, Dairy , Fruit, Nut, & Vegetable, Grains), type (Processing, Pre-processing), and regions (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa).
The food processing equipment market was segmented into mode, type, application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:
Demand estimation of each product across countries/regions summed up to from the total market.
Variable analysis for demand forecast.
Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.
Primary interviews for data revalidation and insight collection.
Used extensively for new product forecasting or analyzing penetration levels.
Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.
Primary interviews and vendor-based primary research for variable impact analysis.
The food processing equipment market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into fourteen countries, namely, the U.S.; Canada; Mexico; Germany; Russia; the UK.; Italy; Japan; China; India; South Korea; Australia; Brazil; and South Africa.
All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.
Thefood processing equipment market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:
BAADER Group -BAADER Group manufactures and supplies advanced food processing equipment. This equipment includes, fish processing, poultry processing, separator processing, and business solutions. In its fish processing segment, the company designs and setups whole processing lines and fish processing capabilities for both on board and ashore applications. BAADER also offers value-added services including maintenance, spare parts, and remote services and training programs to its customers.
GEA Group -GEA Group is one of the process technology suppliers for food and other major industries. The product portfolio of the company comprises brewing systems, centrifuges & separation equipment, automation & control systems, compressors, chillers & heat pumps, dryers & particle processing plants, cleaners & sterilizers, distillation & fermentation systems, evaporators & crystallizers, farm equipment, emission control systems, filling & packaging systems, freezers & ice machines, granulators, and homogenizers. The company operates through two-business segments - Business Area Equipment and Business Area Solutions. In the segment Business Area Equipment, the company offers products, which includes a separator, refrigeration equipment, and other such equipment used in food processing and other industrial applications. In the segment Business Area Solutions, the company designs and develops various process solutions for food and beverage, chemicals, pharmaceutical, and other industries in standardized and customized format.
Marel - Marel is prominently engaged in the development, manufacturing, sells, and distribution for meat, poultry, and fish processing systems. The company majorly operates with brands including Marel Poultry, which offers a wide range of in-line poultry processing solutions including broilers, turkeys, and ducks. The segment Marel Meat offers stand-alone processing equipment and integrated systems for the meat industry. It offers de-boning, trimming, slaughtering, bacon processing, and others. The segment Marel Fish includes farmed and wild salmon and whitefish processing. The Marel operates 12 manufacturing sites and 4 distribution centers for service parts along with offices and subsidiaries in more than 30 countries.
Buhler AG - Buhler AG is a renowned manufacturer of industrial process technology for mobility, food, and communication market. Buhler AG operates through two-business segment - Advanced Materials and Grains & Food. The company offers food-processing equipment through its Grain & Food segment for grains, rice, oilseeds, malt, brewery, pulses, fruits, vegetables, pet food, animal feed, pasta, bakery products, and other products. The company is engaged in food processing processes technologies such as grading, pelleting, extrusion, dough preparation, mixing, drying, etc. Through its Advanced Materials segment, the company offers engineering and solutions for grinding, die-casting, etc. The Buhler AG operates in North America, South America, MEA, Europe and Asia, and operates as a subsidiary of Buhler Holding AG.
Tetra Laval International S.A. - Tetra Laval International S.A. along with its three industry groups Tetra Pak, DeLaval, and Sidel focuses on packaging, food distribution and packaging technologies. Sidel is one of the market leaders in the packaging equipment and services for food and beverage, personal care, and others. Through DeLaval, the company manufactures and markets milk production and animal husbandry related equipment and systems. Tetra Pak Inc. offers industry solution for food processing and carbon packaging in the domestic and international market. In the food processing operations, the company offers food-processing solutions include dairy and beverage processing, prepared food processing, filling equipment, etc.
Alfa Laval - Alfa Laval offers fluid handling, heat transfer, and separation solutions. The company operates through five business units - Greenhouse, Energy, Food & Water, Marine and Operation and others. Through fluid handling systems, the company offers fluid control equipment, installation materials, instrumentation, tank cleaning equipment, automation etc. The separation segment includes filtering, evaporation systems, strainers, baskets, separators, decanters, pump control systems etc. In the heat transfer segment, the company offers heat exchangers, boilers, burners, heaters, tubular and plate heat exchangers, HVAC solutions etc. In the process solution segment, the company deals with ballast water treatment, brewery solutions, filling solutions, freshwater solutions, refrigeration, protein solutions, fish processing systems etc.
Krones AG - Krones AG plans, designs, and manufactures systems and machinery for process technology, packaging and filling technology, among others. The company operates through three business segments - Machines and Lines for Product Filling and Decoration, Machine and lines for beverage production/ process technology and machine and lines for the compact class. The company offers process technology systems for soft drinks, beer, milk, water, juices, and dairy products along with filling technology products, palletizing, packaging etc. The company serves food, breweries, beverages, chemical, pharmaceutical, and cosmetic industries.
The Middleby Corporation - The Middleby Corporation is engaged in designing, manufacturing, marketing, distribution, and offering services for foodservice equipment for commercial restaurants, and international kitchens, food processing operations, premium kitchen equipment used in the residential market and associated products. In commercial foodservice equipment segment, the products offered include ovens, fryers, steam cooking equipment, food warming equipment, catering equipment, induction cooking equipment, toasters, chillers, refrigerators, ice machines, beverage processing equipment, and others. In the food processing equipment, the company deals with pre-cooked meat products, poultry, cookies, bread, etc.
John Bean Technologies Corporation - John Bean Technologies Corporation is engaged in designing, manufacturing, installation, and service products for food, and beverage industries. The company operates through two business units - JBT FoodTech and JBT AeroTech segments. Through its FoodTech segment, the company designs and manufactures food-processing equipment for food, meat, and poultry products. The principal production facilities of the company mark their presence in the United States, Brazil, Germany, Italy, Sweden, the United Kingdom, Africa, and China. The company through its AeroTech segment provides various customized solutions and services for a wide range of applications in the air transportation industry.
SPX FLOW, Inc. - SPX FLOW, Inc. is engaged in the designing, manufacturing, and marketing of mixers, heat exchangers, and drying solutions, etc. The company operates through its three business segments - Power and Energy, food and beverage, and Industrial. Through the Food and Beverage industries, the company offers mixers, dryers, heat exchangers, pump technologies, etc. The Power and Energy segment offers valves, pumps, related components and accessories for clients and customers in nuclear, oil & gas, and other industries. The Industrial segment offers filtration equipment, dryers, mixers, heat exchangers, pumps, hydraulic technologies, etc. The company is one of the prominent supplier of engineering solutions in more than 30 countries and sells its products in over 150 countries of North America, Asia, Europe, and other regions.
Supply Side Estimates
Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.
Segment revenue determination via variable analysis and penetration modeling.
Competitive benchmarking to identify market leaders and their collective revenue shares.
Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.
Demand side estimates
Identifying parent markets and ancillary markets
Segment penetration analysis to obtain pertinent
Heuristic forecasting with the help of subject matter experts
Forecasting via variable analysis
Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.
Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.
Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2023, and forecast from 2024 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.
The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.
The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.
We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.
All market estimates and forecasts have been validated through primary interviews with the key industry participants.
Inflation has not been accounted for to estimate and forecast the market.
Numbers may not add up due to rounding off.
Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).
Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).
Latin America includes Central American countries and the South American continent
Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.
GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.
We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:
Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.
Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.
The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.
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