What are the factors driving Beverage Processing Equipment Market growth? Alfa Laval, GEA Group, Tetra Pak, HRS Process System, Armo Manufacturing
Food & beverages industry is expected to grow at a CAGR of over 4% by 2024. Increasing governmental regulations over hygienic conditions of manufacturing processes and several types of packaging will propel beverage processing equipment market share.
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Key profiles in this industry:
• Alfa Laval
• GEA Group
• Tetra Pak
• HRS Process System
• Armo Manufacturing
• Krones Group
• SPX Flow
• Bucher Industries
• Factory Automation
Consumption of low calorie, energy, dairy and non-dairy drinks is on the rise and with change in product type, their methods also change and lead to requirement of different processing equipment. In order to gain bigger market share, several companies are increasing their productivity and upgrading their equipment and machinery, that in turn will enhance beverage processing equipment market growth.
Beverages are drinks except water prepared for human consumption. Their use in the form of refreshments and health supplements is excepted to increase over the forecasted period. Beverage processing transforms raw materials including fruits, vegetables, water and flavouring agents into drinks. Its production line has multiple sections that include water filtering & sterilizing, syrup preparation, blending, mixing of ingredients, carbonating, fermentation, storing and filling. Carbonation process depends on whether the dink is aerated or non-aerated. Alcoholic drinks process is different and these are prepared in brewery.
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Restraint for beverage processing equipment market is its complex production process. Production processes are becoming complex with increase in demand of higher production and better taste & quality. Efficiency of these equipment to produce hygienic drinks has been questioned with cases of some unwanted materials in soft drinks. Further the safety standards of machinery may restrict the growth of product.
On the basis of type, beverage processing equipment market is segmented into carbonated and non-carbonated. Carbonated type has larger share owing to high consumption of aerated drinks. Non-carbonated holds substantial share and has high potential to grow with increasing demand for functional drinks. Consumers are becoming health conscious and intake of low calorie and healthy drinks like fruit juice has escalated. In addition, these can be classified into dairy, alcoholic and non-alcoholic. Dairy and non-alcoholic drinks have larger share as compared to latter.
Based on application, beverage processing equipment market is segmented into beverage, dairy, and fruits & vegetables. Beverages accounts for the major industry share owing to presence of large variety of products including soft drinks and beer. Dairy application maintains substantial industry share with its use in almost every part of the world and new variants have further spurred the demand of product. Growing consumption of fruit & vegetable squashes has risen with changing customer preference towards non-aerated drinks.
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Based on equipment, beverage processing equipment market is classified into brewery, carbo coolers, filtration systems, heat exchangers, blenders & mixers, pumps and others. Filtration systems have significant share and expected to grow with new innovation in procedures that increases shelf life of the product. It has huge application in separation and filtration of raw materials to produce end product. Further these are used in almost every processing industry due to increasing demand of fortified drinks. Brewery has substantial share with its requirement in alcoholic drinks. These are followed by heat exchangers that play an important role in heating and cooling of fluids.
North America is the largest beverage processing equipment market due to rise in regional consumption both alcoholic & non-alcoholic drinks. Presence of key players including PepsiCo and Coca Cola and their research & development facilities further boost industry growth.
Europe has significant share with increasing dairy alternative products as consumers have become more health conscious in this region. Middle East & Africa has nascent share and expected to grow with growing demand for non-aerated and multi-functional drinks like energy drinks & juices.
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