Anuga FoodTec India 2022
What's fueling the material handling equipment market?
Photo - Grandview Research
Published By - FoodTechBiz Desk
The material handling equipment market within the food industry has become a pivotal driving force, reshaping the food processing and distribution landscape. This dynamic market, characterized by innovative technologies and evolving consumer demands, is crucial in enhancing efficiency, sustainability, and safety across the food supply chain. From streamlining production processes to addressing environmental concerns, the material handling equipment has emerged as a cornerstone of food manufacturing and distribution progress. The diverse variety of equipment has evolved to meet the changing requirements, adapting to the trends, and stood as a pillar with changing consumer demands.
The increasing adoption of automation and continuous advancements in technology within the market have led to the creation of fully automated facilities in developed nations. The upgrading and modernization of industrial facilities and infrastructure to enhance their production capabilities is predicted to propel the expansion of the material-handling equipment sector. Further, the eCommerce segment is poised for substantial growth in the near future due to factors like the adoption of online shopping platforms, the presence of prominent online retailers, and the expansion of logistics infrastructure. As a consequence of this trend, warehouse proprietors are increasingly integrating effective material handling equipment into their operations to enhance their ability to manage the intricacies of the supply chain network.
Further, with the increasing demand for food products, automation has become essential for meeting production targets while maintaining product quality and consistency. With consumer awareness about sustainable practices increasing, food companies have started to explore ways to reduce their environmental impact. Material handling equipment is helping them reach targets by reducing energy consumption, minimizing waste, and ensuring efficient use of resources.
Who is on top?
When it comes to material handling equipment, few companies stand out as a leader in the market. One of these is Honeywell International, which has developed a broad range of automated solutions, helping with efficiency and reduced cost. Many other companies, from conveyor belts, pallet trucks, and robotics, such as BEUMER GROUP, KION, Daifuku, Dorner, Murata Manufacturing, SSI SCHAEFER, and TOYOTA INDUSTRIES, also play a crucial role in the market's growth. There are plenty of innovative companies that are driving this sector forward.
Challenges and future trends
While material handling equipment brings numerous benefits to the food industry, it also presents challenges, such as initial investment costs, maintenance requirements, and the need for skilled personnel to operate and maintain these complex systems. Other setbacks can be the risk of technical failures, expensive repairs, and environmental impacts to ensure energy efficiency and not use excess water and emissions.
Additionally, as technology advances, the industry can expect to see the integration of artificial intelligence, machine learning, and advanced analytics to optimize material handling operations further.
Promising future of the material handling equipment market
The future of material handling equipment in the food industry looks promising. With a growing emphasis on automation, businesses in the industry are looking to invest more and more to improve efficiency and sustainability. This means that it is easy to expect more automation solutions that will be implemented to streamline and optimize the production process. According to a report by Fortune Business Insights, the global material handling equipment market is expected to grow from US$ 216.18 Billion in 2022 to US$ 319.63 Billion by 2029, at a CAGR of 5.7% during the forecast period, exhibiting a growth of 4.5%. According to Grandview Research, the Asia Pacific region accounted for over 35.0% of the market share of the global revenue in 2021. This adoption is attributed to the fastest-growing food retail sector in the Asia Pacific region that offers plenty of opportunities to the market owing to their ability to increase the speed and efficiency of the picking and sorting processes.
The material-handling equipment market in the food industry has transformed the way products are moved, stored, and distributed. Automation, robotics, and advanced storage solutions have revolutionized efficiency, safety, and productivity. As the food industry continues to grow, businesses embracing these technological advancements will likely thrive in a competitive landscape, delivering high-quality products to consumers while maintaining cost-effective operations.
References:
Material Handling Equipment Market Size Report, 2022-2030 (grandviewresearch.com)
Material Handling Equipment Market Size, Growth, Trends, 2029 (fortunebusinessinsights.com)
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