High Pressure Processing Equipment Market Growth 2016-2026
High pressure processing technology was introduced for commercial applications in the 1990s. Over the past 10 years, adoption of high pressure processing equipment or systems has witnessed significant growth in the food and beverages industry. In the last decade, growth in the installed base of high pressure processing equipment across the globe has registered a CAGR of around 17%. In terms of value, the global high pressure processing equipment market was pegged at more than US$ 120 Mn in 2016 and is projected to reach above US$ 430 Mn by the end of 2026. North America followed by Europe is the largest market for high pressure processing equipment, collectively accounting for more than 60% share in terms of value in 2015. The region is expected to witness relatively faster growth over the forecast period. Rising health concerns and awareness among customers has resulted in significant increase in the demand for organic food and clean label food products, i.e. those food products that are free from added preservatives or chemicals, artificial colours, and artificial flavours.
Awareness of the health benefits associated with consumption of clean label products has witnessed a marked increase. Accordingly, launch of new clean label products is expected to gain strong momentum over the forecast period. Several leading industry participants have made significant investments towards the launch of such product offerings in order to penetrate the growing market for such products. Over the years, high pressure processing equipment manufacturers have increased their product variants in terms of capacity either by increasing vessel size or by increasing the number of intensifiers.
North America and Europe are estimated to represent major shares in the global high pressure processing equipment market
U.S. is expected to hold more than three-fourths of the total market value and volume share in the North America high pressure processing equipment market by 2026 end. The U.S. high pressure processing equipment market is projected to gain more than 400 BPS between 2016 and 2026, expanding at a CAGR of 16.7% over the forecast period. Sales revenue of high pressure processing equipment in Canada is expected to increase at a CAGR of 11.2% and the country is expected to represent incremental opportunity of more than US$ 10 Mn between 2016 and 2026. Western Europe is expected to represent more than three-fourths of the total market share in the Europe high pressure processing equipment market by 2026 end. The Western Europe high pressure processing equipment market is projected to gain more than 100 BPS between 2016 and 2026, expanding at a CAGR of 14.1% over the forecast period. The increasing use of high pressure processing equipment for safe and quality food is expected to lead to a rise in demand in the European market.
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China is projected to represent more than half of the Asia Pacific high pressure processing equipment market incremental opportunity between 2016 and 2026
The high pressure processing equipment market in China is projected to gain more than 1000 BPS between 2016 and 2026, expanding at a CAGR of 14.2% over the forecast period. The India high pressure processing equipment market is projected to lose more than 100 BPS between 2016 and 2026, registering a CAGR of 7.5% during the assessment period. Rising urban population in the Asia Pacific region is anticipated to create a large market for ready-to-eat food, which is expected to fuel the demand for high pressure processing equipment in the next few years.
Key market stakeholders are eyeing the Asia Pacific region to stay afloat in the global high pressure processing equipment market
Hiperbaric S.A. has a high pressure processing equipment machine manufacturing unit in Burgos (Spain) and its operations are distributed across North America, Europe, Asia, Africa and Oceania. It also operates a sales and service office in New Zealand. The company primarily aims to target the food and beverage industry in the U.S market. It is actively promoting its high pressure processing equipment and systems amongst tolling service providers. Hiperbaric S.A. also aims to target the Asia and Oceania food and beverage market by expanding its sales channel and collaborating with clients.
Multivac Group, another leading player operating in the global high pressure processing equipment market invested approximately US$ 7 Mn to expand its manufacturing unit based in Kansas City in 2016. In 2011, owing to the growing demand for high pressure processing systems in the food processing industry, Multivac Group formed a strategic partnership with Uhde High Pressure Technologies GmbH (a subsidiary of thyssenkrupp AG.).
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