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SAN JOSE, Calif. — Driven by the growing demand for processed food across geographies, the global market for food processing machinery and equipment is forecast to reach $45 billion by 2018, according to a comprehensive global report by Global Industry Analysts, Inc.
The report also found a growing number of large food chains, restaurants and fast food centers the world over, and the subsequent increase in number of food processing facilities would continue to create opportunities for food processing machinery and equipment.
Additionally, developing markets, such as Asia-Pacific, Latin America and Eastern Europe, are expected to lend traction and boost market prospects over the next few years.