LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global rice milling machinery market to have an incremental growth of USD 201.81 million during the forecast period, according to their latest market research report. The growth momentum of the market is expected to accelerate in the year-over-year growth.
The growing need for automation in rice processing machines is one of the major trends being witnessed in the global rice milling machinery market 2018-2022. Rice is one of the main crops and a staple food in many countries. Thus, with the increase in population, its production also needs to rise. This factor has encouraged many rice processing plants to automate the milling operations. Automation in rice processing machine provides many benefits such as higher yield and overall improvement in the efficiency of operations.
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According to Technavio analysts, one of the key factors contributing to the growth of the global rice milling machinery market is the expansion of rice processing plants:
Global rice milling machinery market: Expansion of rice processing plants
The demand for rice is increasing with the rise in population of many countries. This has encouraged many rice processing companies to expand production by opening new rice processing plants, which in turn, is increasing the demand for rice milling machinery. Such an expansion of various rice processing companies is likely to benefit the people of many countries whose main and staple food is rice.
According to a senior analyst at Technavio, “In June 2017, India based LT foods opened its new rice processing plant at Rotterdam, the Netherlands, with the aim to increase rice production. Similarly, in August 2017, WACOT rice opened a new rice milling facility at Kebbi state, Nigeria, to increase its rice milling capacity up to 500,000 metric tons per annum. Such plans by various rice processing companies are likely to increase the demand for rice milling machinery during the forecast period.”
Global rice milling machinery market: Segmentation analysis
The global rice milling machinery market research report provides market segmentation by product (horizontal roller rice milling machinery and vertical roller rice milling machinery) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
APAC held the largest share of the market in 2017, accounting for more than 74% share. It was followed by the Americas and EMEA respectively. The dominance of APAC can be attributed to the expansion of rice processing plants and a rising focus on increasing shelf life of rice.
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