The global beverages processing equipment market size is expected to reach US$ 27.7 Bn by the end of 2030. According to a study by Future Market Insights (FMI), the market will show a steady rise at 4.7% CAGR between 2020 and 2030. The market is anticipated to perform well in the near future owing to increasing awareness regarding processed beverages, and rising demand for ready-to-drink beverages among the population. Filtration systems, equipment type segment is anticipated to grow at the fastest CAGR over the forecast period.
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It includes in-depth insights into the beverages processing equipment market. Some of these are:
- The estimated value of the market was at US$ 17.5 Bn in 2020. Through the course of the report’s forecast period, the market is exhibited to show a steady pace of growth.
- Asia Pacific account for leading share in the demand for beverage processing equipment, whereas North America and Europe, screening lucrative long-term growth over the years.
- Asia Pacific countries are like India, China, ASEAN countries posses’ excellent growth opportunity for the beverage processing equipment owing to increasing flavour inspiration and rising disposable income.
- High capital costs and complex manufacturing processes for beverage processing equipment are the key factors that hinder industry growth.
- Companies are growing the output potential and adding market capture automation to the machines.
“Rising demand for hygienically manufactured & packaged drinks, upgrading equipment for lean time management, advanced technology use to increase productivity & product performance and rising focus on quality of drinks are some of the key factors driving the market. Leading companies are likely to strategize their future operations in line with the aforementioned factors to expand their geographic reach in the near future,” said a lead analyst at FMI.
COVID-19 Outbreak Crisis will Impact Consumption Pattern
Due to the outbreak of the pandemic coronavirus, sales of alcohol and fresh foods on e-commerce in have surged during the COVID-19 epidemic, with market analysts predicting that the changes in consumer buying habits are here to stay. Customer habits shifted during this time to concentrate on safety and hygiene, while in the aftermath of lockdowns, they switched to e-commerce for alcohol, fresh food and even dairy.
Because COVID-19 is spreading through continents without signs of slowing down, the effects and patterns resulting from changes in consumer behaviour will also be evident in other crisis countries. Total consumption of alcoholic drinks wouldn’t change much during economic downturns, sales of beer and wine would increase and sales of liquors would decrease. Budget demand for mid-priced drinks would increase, while demand for high-end super-premium for ultra-premium alcoholic beverages would decrease. The pattern of delivery will change drastically though.
Who is Winning?
The beverages processing equipment market consists of numerous players. Few of them are GEA, Tetra Laval, Alfa Laval, Krones Group, Bucher Industries, SPX Flow, JBT Corporation, KHS GmbH, Pentair, and Praj Industries.
The growing rivalry among the vendors makes it difficult for the emerging players to compete with the leaders based on quality, technology and pricing in particular. Therefore, the manufacturers bring creative ideas and introduce better technology to achieve a competitive edge over their rivals.
Get Valuable Insights into Beverage Processing Equipment Market
Future Market Insights, in its new report, presents an unbiased analysis of the global beverages processing equipment market, covering historical demand data and forecast figures for the period between 2020 and 2030. The study divulges compelling insights into growth witnessed in the market. On the basis of equipment type, the beverage processing equipment market is segmented into brewery, filtration, carbonation, blenders & mixers, heat exchangers & others. Regionally, the market can be segmented into North America, Latin America, Europe, East Asia, South Asia, Oceania and MEA.
About the Food & Beverage Division at Future Market Insights
Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Future Market Insights helps clients from across the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analysed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
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BEVERAGE PROCESSING EQUIPMENT MARKET TAXONOMY
The global Beverage Processing Equipment market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
- Carbonated Beverages
- Non-carbonated Beverages
- Alcoholic Beverages
- Dairy Based Beverages
- Processed Water
- Sugar Dissolvers
- Blenders & Mixtures
- Heat exchangers