Food Processing Market Projected To Exceed $4 Trillion By 2024

Financialnewsmedia.com News Commentary

PALM BEACH,  Fla., Aug. 13, 2020 /PRNewswire/ -- The food processing and handling (FP&H) sector provides the systems, machinery, and equipment that help the food industry feed a global population approaching eight billion people worldwide. It is the behind-the-scenes enabler that quietly and efficiently moves food from field to factory and onto the plate. It is also a significant global industry that has been growing fast in recent years amid rising demand in emerging markets, changes in consumer lifestyles, and a transformative leap forward in technological capabilities. From the impact of artificial intelligence and process automation to growing demand for organics, the sector is undergoing a period of fundamental change. FP&H equipment companies across the three key sub-sectors of processing, packaging, and commercial food service have a chance to reap significant rewards, but to do so, they must themselves adapt to the changing environment. Active stocks in news today include:  China Xiangtai Food Co. Ltd. (NASDAQ: PLIN), Hormel Foods Corporation (NYSE: HRL), Beyond Meat, Inc. (NASDAQ: BYND), Tyson Foods, Inc. (NYSE: TSN), Mondelz International, Inc. (NASDAQ: MDLZ).

According to a report from ResearchAndMarkets the food processing market is expected to reach an estimated $4.1 trillion by 2024 with a CAGR of 4.3% from 2019 to 2024. "… the future of the food processing market looks promising with opportunities in beverage, dairy, meat & poultry, convenience food & snacks, fruits & vegetables, and seafood industries. The major drivers for this market are increasing demand for ready-to-eat food products, changing lifestyle, and an increase in nuclear families and working women. Emerging trends, which have a direct impact on the dynamics of the industry, include the development of food processing technologies that reduce detrimental changes in food and maintain the nutritional value. Cargill Foods, Nestle, PepsiCo, Archer Daniels Midland, and Unilever are among the major processed food manufacturers."

China Xiangtai Food Co. Ltd. (NASDAQ: PLIN) BREAKING NEWS - China Xiangtai Food Co., Ltd. Launches Hot Pot Restaurant Business - China Xiangtai Food (the "Company" or the "PLIN"), an emerging growth company engaged in the food processing business, today announced that it plans to launch a hot pot franchise business and plan to open its first location in Chongqing by August 31, 2020. The launch will allow the Company to integrate its existing industry resources and leverage its strength to provide consumers with a farm-to-table experience.