Global market for food processing and packaging 2016-2022

According to a new report by Stratistics MRC the global food processing and packaging equipment market accounted for $21.0 billion in 2015 and is expected to grow at a CAGR of 14.1% to reach $52.9 billion by 2022. The seafood industry segment dominated the market.
Increasing attentiveness intensity regarding original food products, rising economy, more availability of raw materials, new advancements in technology, investment on study and growth over food processing equipment are some of the key factors that are boosting the market growth across the world and especially in the European countries. However, growing costs of power and energy is the major restraint inhibiting the market growth.
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