The food sterilization equipment market is projected to reach USD 922.7 million by 2023, at a CAGR of 6.3% from 2018. This market is mainly being driven by rising instances of foodborne diseases and growing awareness about food safety among consumers. Factors such as increasing consumption of sterilized food products in the emerging markets of the Asia Pacific and Europe are also projected to drive the growth of the food sterilization equipment market.
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Asia Pacific is projected to witness the fastest growth in the food sterilization equipment market during the forecast period. Emerging economies such as India, China, and developed country such as Japan have favorable market growth potential for sterilized food products, which has encouraged the food manufacturers in these countries to adopt strategies such as expansions.
Through expansions, the companies are focusing on catering to the consumer demands and through increasing the production capacity of sterilized food products and raw materials such as spices, seeds, and herbs by using food sterilization equipment. The growing population and per capita income in China, India, Australia, and New Zealand are expected to drive the demand for sterilized foods & beverages.
On the account of these factors, the growth of the food sterilization equipment market is projected to increase during the forecast period.
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Key players such as JBT Corporation (US), Buhler (Switzerland), De Lama (Italy), Hisaka (Japan), and Systec (Germany) have been actively strategizing their growth plans to expand in the food sterilization equipment market. These companies have a strong presence in Europe, North America, and Japan. In addition, these companies have manufacturing facilities across these regions with a strong distribution network.
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