The Nut Processing Machine Market Will Reach US$ 72.5 Billion, Growing at a 5.6% CAGR, Reveals Future Market Insights, Inc.
According to Future Market Insights, the global nut processing machines market is poised to reach US$ 42100.0 million in 2023 and further accelerate at a CAGR of 5.6% between 2023 and 2033. Overall nut processing machine sales are expected to total a valuation of US$ 72597.4 million by 2033.
Rising popularity and consumption of various types of nuts across the world and increasing penetration of automation are the key factors driving the global nut processing machine industry forward.
Nut processing machines are equipment used to quickly process raw nuts into a form that is suitable for consumption. These machines have completely changed the way nuts were processed traditionally. The adoption of these machines significantly reduces the need for labourers and helps industries to improve overall productivity.
Growing demand for both nuts and the products made from them is expected to boost the worldwide nut processing machine market during the forecast period.
Nuts like almonds, peanuts, and walnut are being increasingly used to make nutritious snacks because they are rich in protein and fiber. To consume higher amounts of nutrients, people are turning to nutritious foods that comprise nuts, dried fruits, milk, and veggies. This is creating enormous pressure on nut processing companies and to address this, they are employing new automatic nut processing machines in their facilities.
Another key factor expected to aid in the expansion of the global nut processing industry is the growing awareness about the potential health benefits of nuts.
Key Takeaways from Nut processing machine market
The global nut processing machine market is expected to grow at a CAGR of 5.6% during the forecast period.
Based on product type, shelling and peeling equipment collectively hold a significant share of the global nut processing machine market.
By mode of operation, sales of automatic nut processing machines are likely to outpace those of semi-automatic ones.
With around US$ 15998 million valuation, North America leads the global nut processing machine market.
The U.S. holds around 68% share of the North America nut processing machine market
The Asia pacific accounts for around 18% share of the worldwide nut processing machine market
Who is Winning?
Leading nut processing machine companies include JBT corporation, Key Technology, The Middleby Corporation, Feucht-obsttechnik.de, Lewis M. Carter Manufacturing, LLC, Buhler AG, Kadıoglu LTD, SKOURAS Inc., Modern Process Equipment Corporation, Grossi Fabrications Inc, TOMRA, AC Horn Manufacturing, TabrizKar, JEM Equipment, nuttech.eu, Wizard Manufacturing, and Savage Equipment, Momtazan Ind. Co.
These insights are based on a report on Nut Processing Machine Market by Future Market Insights