Food & Beverages Industry Pumps Market to Expand at 5% CAGR by 2030 Amid Rising Demand for Automation and Hygiene - Analysis by TMR

Pump manufacturers are capitalizing on increased dairy consumption in China due to awareness about its health benefits amid the COVID-19 outbreak. Safe and efficient food production has become a key focus for companies in the food & beverages industry pumps market. However, conventional centrifugal pumps cause increased churning of products, leading to potential damage and degradation. Therefore, pump manufacturers should invest in research on operational principles such as variable flow, viscosity, and abrasiveness to ensure product integrity. They should also invest in innovation centers to cater to evolving consumer trends and increase the availability of flexible process equipment.

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Market Overview

According to Transparency Market Research's latest report on the global food & beverages industry pumps market for the historical period 2018-2019 and the forecast period 2020-2030, increased focus on production efficiency, processing time, and quality of food products are expected to boost the global market during the forecast period. In terms of revenue, the global market is estimated to exceed a value of US$ 6.7 Bn by 2030, expanding at a CAGR of ~5%.

Rising Demand for Meat, Poultry, Dairy, Bakery, and Confectionery Products: A Key Driver

Meat, dairy, bakery, and confectionery product units are major applications of food & beverages industry pumps. The growing consumption of protein-based food products, frozen meat, and fruits & vegetables, along with the preference for healthy food products in developed countries, drives the demand for higher food production. This, in turn, drives the demand for food & beverages industry pumps.

Furthermore, meat processing involves a wide range of physical and chemical treatment methods. According to the US Department of Agriculture (USDA), farmers and meatpackers produced a record 99.7 billion pounds of red meat and poultry in 2017, necessitating more processing capacity and higher demand for meat processing equipment. Food & beverages industry pumps are prominently used in meat, poultry, and seafood applications. The last decade has seen high demand for processed meat products due to changing and busy lifestyles of consumers.

Similarly, in the dairy industry, the demand for food & beverages industry pumps for a range of applications is driving market growth. According to the dairy index from Tetra Pak Global, consumption of products such as milk, cheese, and butter is expected to rise by 36% in the next decade, reaching over 710 million tons of liquid milk equivalent by 2024. This booming demand is majorly witnessed in emerging economies such as India, China, and Latin American countries.

Developing economies, rapid urbanization, and globalization have led to more opportunities in countries where the demand for food is high but the supply of quality food is lagging. This has resulted in a greater focus on developing economies by manufacturers of food & beverages industry pumps. Consumers in these countries have busier lifestyles and changing consumption patterns, leading to increased demand for processed, ready-to-cook, and ready-to-eat food, further fueling the demand for food & beverages industry pumps.

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Increased Focus on Production Efficiency, Processing Time, and Quality of Food Products

End-product manufacturers are focusing on increasing their production efficiency due to rising costs of raw materials, labor, and energy. This focus is necessary to reduce food & beverages wastage during processing and ensure efficient utilization of raw materials. Manufacturers also aim to reduce energy consumption and opt for renewable energy to cut production costs and increase profitability. Suppliers are introducing new food & beverages industry pumps that employ technologies such as volumetric and hygienic pumps for processing.

Latest pumps offer better efficiency over traditional pumps, which are restricted to certain operating environments. This development has encouraged equipment manufacturers to design and produce more efficient and effective food & beverages industry pumps that offer flexibility in terms of capacity expansion, increasing movability, and better control over processing.

Increased investment by end users in the expansion and optimization of facilities is expected to generate high demand for food & beverages industry pumps to meet sanitary requirements. With changing government regulations and increasing health concerns, manufacturers are ensuring maximum safety in production. These regulations are likely to increase the demand for various food & beverages industry pumps during the forecast period. Product loss can be minimized by uniformly controlling the flow rate, achievable by using a positive displacement pump, thus increasing its demand in the market.

Changing lifestyles and eating patterns have resulted in high demand for food. The demand for infant and pet food is increasing, while growing health concerns will generate demand for high-quality and efficient food & beverages industry pumps. Electricity costs also play a key role in generating demand. Rising electricity prices will force manufacturers to shift towards efficient products and focus on energy savings. Pumps with the latest energy efficiency standards are likely to attract consumers during the forecast period.

Overall, the food & beverages industry pumps market is projected to showcase an upward trend during the forecast period.

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Competition Landscape

Detailed profiles of providers of food & beverages industry pumps have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies. Key players operating in the global market include Alfa Laval AB, Ampco Pumps Company Inc., BJM Pumps, LLC, Bominox, S.A., Charles Austen Pumps Ltd., Grundfos Holding A/S, Hammelmann GmbH, KSB SE & Co. KGaA, LEWA GmbH, PCM S.A., Pentair Plc., Tops Industry & Technology Co., Ltd., Verder International B.V., Pumpenfabrik Wangen GmbH, and Wastecorp Pumps.

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