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High-Pressure Processing Equipment Market Size, Trends, Forecast 2024-2033
High-Pressure Processing Equipment Market Size
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According to The Business Research Company's, The high-pressure processing equipment market size has grown strongly in recent years. It will grow from $0.43 billion in 2023 to $0.46 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to growing concerns over foodborne illnesses, increasing focus on food safety, demand for extended shelf life, rising demand for natural food preservation, and consumer preference for minimally processed foods.
The high-pressure processing equipment market size is expected to see strong growth in the next few years. It will grow to $0.66 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to the increasing use of high-pressure processing for sterilization and preservation, growing awareness of nutrition and wellness, continued investments in research and development for new applications, and emerging applications in non-food sectors. Major trends in the forecast period include innovations in equipment design and automation, advancements in packaging technology, development of portable and mobile equipment, adoption of IoT-enabled and automated systems, and focus on convenience and time-saving solutions.
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Market Drivers and Trends:
The increasing demand for processed food is expected to propel the growth of the high-pressure processing equipment market going forward. Processed food refers to any food item that has undergone alterations from its natural state through cooking, preservation, or other methods to improve flavor, shelf life, or convenience. The increasing demand for processed food is due to several factors, such as increased urbanization, changing lifestyles, convenience, longer shelf life, and the availability of a wide variety of flavors and options in the market. High-pressure processing equipment ensures food safety, extends shelf life, and maintains nutritional quality, meeting consumer expectations for convenience and quality in processed foods. For instance, in October 2023, according to Agriculture and Agri-Food Canada (AAFC), a Canada-based government department for agriculture and food-related products, in 2022, exports of processed food and beverage products reached an all-time high of $54.3 billion, marking a 14.1% increase compared to 2021. These exports represented 34.7% of the total production value. Therefore, the increasing demand for processed food is driving the growth of the high-pressure processing equipment market.
Major companies operating in the high-pressure processing equipment market are focusing on developing advanced products, such as the newest generation of high-pressure processing (HPP) systems, to gain a competitive edge in the market. New-generation high-pressure processing (HPP) systems utilize advanced technology to apply intense pressure to food products, preserving freshness and extending shelf life while maintaining nutritional quality. They are integral to the food industry for producing minimally processed, safe, and high-quality products such as juices, deli meats, and dips. For instance, in September 2022, Quintus Technologies AB, a Sweden-based provider of high-pressure technology, introduced a new high-pressure processing (HPP) system, the QIF 400L, which boasts the industry's largest diameter vessel. The QIF 400L enhances load efficiency by up to 25% in a more compact design compared to previous models. Quintus' HPP technology is acknowledged by global regulatory authorities as an effective antimicrobial method capable of inactivating numerous food pathogens. Their HPP systems are engineered for exceptional durability, performance, and minimal maintenance, optimizing uptime and productivity while reducing total ownership costs.
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Major Key Players of the Market:
ThyssenKrupp AG, Kobe Steel Ltd., MULTIVAC Sepp Haggenmuller SE and Co., JBT Corporation, Engelmann & Buckham Ltd, Universal Pasteurization Company LLC, Good Foods Group LLC, Uhde High Pressure Technologies GmbH, Quintus Technologies AB, American Pasteurization Company, Hiperbaric, Resato International B.V., Millard Manufacturing Corp., Pion Inc, Stansted Fluid Power Ltd., Bao Tou KeFA High Pressure Technology Co Ltd., BTKF-HPP, Guangzhou Jingye Machinery Co Ltd, Idus HPP Systems S.L.U., Xiamen Ollital Machinery Equipment Co Ltd.
High-Pressure Processing Equipment Market 2024 Key Insights:
• The high-pressure processing equipment market size is expected to see strong growth in the next few years. It will grow to $0.66 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%.
• Processed Food Demand Fueling Growth Of High-Pressure Processing Equipment Market
• Advancements In High-Pressure Processing (HPP) Equipment For The Food Industry
• North America was the largest region in the high-pressure processing equipment market in 2023
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