Grain Processing Equipment Global Market Report 2024 – Market Size Forecast, Growth Rate, Leading Companies

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Grain Processing Equipment Market Size 2024 And Growth Rate: How Big Is It Expected To Be?

The grain processing equipment market has experienced substantial growth in recent years. The market valuation is anticipated to grow from $4.86 billion in 2023 to $5.22 billion in 2024, reflecting a compound annual growth rate CAGR of 7.3%. The historic period growth can be deduced from several factors: global population increase and food demand, growth in the food and beverage processing industry, the need for efficient grain cleaning and sorting processes, rising demand for processed grains in animal feed production, and expansion of commercial bakeries and flour mills.

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Grain Processing Equipment Market Growth Forecast: What is the Future Outlook?

The grain processing equipment market size is predicted to witness robust growth in the forthcoming years. Expected to grow to $6.62 billion by 2028 at a CAGR of 6.1%, this growth in the forecast period can be attributed to the adoption of automation and robotics in grain processing, a stress on sustainable and eco-friendly processing practices, and the integration of IoT, and Industry 4.0 technologies in grain processing.

Furthermore, research and development in next-generation grain processing equipment, expansion of specialty grain processing for niche markets are projected to stimulate the market growth. The major trends forecasted for this period include the digitalization and automation of processing lines, advanced sorting and grading technologies, energy-efficient and environmentally-friendly processing solutions, hygienic and sanitary design in processing equipment and grain milling technology for enhanced flour quality.

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What is Driving the Development of the Grain Processing Equipment Market?

The exponential growth in the global population is expected to propel the grain processing equipment industry's growth. The population increase directly influences the rise in food and beverage consumption, resulting in augmented demand for grain-based products. For instance, according to the United Nations World Population Prospects, the world population reached 7.87 billion in July 2021, and it is estimated to exceed 9 billion by 2037. Similarly, The Economic Times reported a projected rise in India's food grain production by 3.74% to a record 308.65 million tonnes in the crop year 2020–2021. Hence, the growing global populace enhances the grain processing equipment market growth.

Who are the Key Players in the Grain Processing Equipment Industry?

The grain processing equipment market is comprised of numerous companies, including Alvan Blanch Development Company Limited, Osaw Agro Industries Private Limited, WESTRUP A/S, Golfetto Sangati S.r.l., PETKUS Technologie GmbH, Lewis M. Carter Manufacturing LLC., Satake USA Inc., Forsberg Agritech Pvt. Ltd., Lianyungang Huantai Machinery Co. Ltd., and Zhengzhou VOS Machinery Equipment Co. Ltd. Other significant players include Corbion NV, Monsanto Company, Ganesh Engineering Works, Bühler AG, Satake Corporation, Ag Growth International Inc., Cimbria A/S, Grain Systems Inc., Hefei Taihe Optoelectronic Technology Co. Ltd., and Milltec Machinery Pvt Ltd, among others.

Additionally, the market is bustling with emerging trends such as the use of near-infrared NIR spectroscopy. This technology holds immense potential for agricultural applications such as grain production as it is used to measure protein levels and the equivalent nitrogen values in grains. Besides, the technique can manage plant health, detect diseases, and monitor grain development.

How is the Grain Processing Equipment Market Segmented?

The grain processing equipment market explored in this report is segmented as follows–

1 By Machine: Pre Processing, Processing.
2 By Technology: Automatic, Semi-Automatic.
3 By Application: Cleaning, Grading, Handling, Coaters, Dryers.

Regional Overview: Market Insights

Asia-Pacific was the largest region in the grain processing equipment market in 2023 and is projected for rapid growth in the forecast period. Other regions covered in the grain processing equipment market report include Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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