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Food And Beverage Pumps Market Report 2024 - Industry Pumps Market Share, Demand, And Segments
Food And Beverage Pumps Market
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According to The Business Research Company's, The food and beverage industry pumps market size has grown strongly in recent years. It will grow from $10.01 billion in 2023 to $10.77 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to increased global population and consumer demand for processed foods, growth in food and beverage processing and manufacturing industries, stringent hygiene and sanitary standards in food production, regulatory compliance and food safety requirements, expansion of beverage production, including soft drinks and alcoholic beverages.
The food and beverage industry pumps market size is expected to see strong growth in the next few years. It will grow to $14.41 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to adoption of hygienic and aseptic pumping solutions, demand for sustainable and energy-efficient pumping systems, customization of pumps for specialized food processing applications, integration of smart pumping technologies for process optimization, focus on clean-in-place (cip) and sterilization-in-place (sip) systems. Major trends in the forecast period include sanitary and hygienic pump designs, positive displacement pumps for viscous and shear-sensitive products, aseptic pumping solutions for sterile processing, smart pumping systems with iot integration, high-capacity pumps for beverage production.
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Market Drivers and Trends:
Increasing demand for meat and poultry is expected to propel the growth of the food and beverage industry pumps market going forward. A meat product contains flesh from animals such as cattle, buffalo, goats, sheep, pigs, and fowl and is designed for human consumption, whereas poultry refers to avian species that can be grown for meat, eggs, and feathers. Food and beverage industry pumps help meat and poultry to support in different stages of the production process such as transporting meat for final consumption to the processing of by-products, including skin, intestines, feathers, heads, blood, and other parts that may require maceration and waste extraction. For instance, according to Food and Agriculture Organization, a Canada-based specialized agency of the United Nations, global meat production is projected to expand by 44 Mt by 2030, reaching 373 Mt based on higher profitability. Further, poultry meat is expected to share 41% of all the protein from meat sources in 2030. Therefore, increasing demand for meat and poultry products is driving the growth of the food and beverage industry pumps market.
Product innovations are a key trend gaining popularity in the foods and beverages industry pumps market. Major companies operating in the food and beverages industry pump to strengthen their position in the market. For instance, in June 2021, Alfa Laval, a Sweden-based manufacturer of food and beverages industry pumps products launched Alfa Laval DuraCirc, which is the first circumferential piston pump that offers improved efficiency, reliable operation, and hygienic access in processes involved in the food and beverage industry.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
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• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Alfa Laval AB, Amixon GmbH, Ampco Pumps Company, Lewa GmbH, PCM Companies, Fristam Pumpen KG, SPX Flow Inc., GEA Group AG, Grundfos Holding A/S, Xylem Inc., Sulzer Ltd., KSB SE & Co. KGaA, ITT Inc., Watson-Marlow Fluid Technology Group, Tapflo Group, Verder International B.V., Netzsch Pumpen & Systeme GmbH, Viking Pump Inc., PSG Dover, IDEX Corporation, Flowserve Corporation, Gardner Denver Holdings Inc., Ingersoll Rand Inc., Atlas Copco AB, Busch Vacuum Solutions, Edwards Vacuum, Leybold GmbH, Pfeiffer Vacuum GmbH, Oerlikon Leybold Vacuum GmbH, Ebara Corporation, Tuthill Corporation
Food And Beverage Industry Pumps Market 2024 Key Insights:
• The food and beverage industry pumps market size is expected to see strong growth in the next few years. It will grow to $14.41 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%.
• Meat And Poultry Industry's Impact On The Food And Beverage Pumps Market
• Product Innovations Driving Growth In The Food And Beverage Industry Pumps Market
• Western Europe was the largest region in the food and beverage industry pumps market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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