For the period 2017-2026 Marel has set a target of 12% average annual increase in revenue, through both organic growth and acquisitions. Our growth plan involves capitalizing on strong innovation investment to drive expansion and market penetration. We will also focus on strategic partnerships and acquisitions to fill gaps in the value chain, and to augment our full-line product offering.
The market for food processing equipment is expected to grow 4-6% annually on average in the long term. Driven by our significant innovation investment, market penetration and extensive product portfolio, we aim at organic growth outperforming that of the market. Ongoing and continued investment in the future scalability of our platform, IT infrastructure and global reach supports organic growth going forward.
We will also supplement our full-line offering and accelerate market penetration through acquisitions. We believe our solid operational performance and strong cash flow can support 5-7% revenue growth on average annually through acquisitions. This growth is not expected to be linear but reflect opportunities which become available and economic fluctuations. To capture the full value of acquired companies, we are further professionalizing our integration capabilities and expertise to become a solid integration partner.