Greater consumer spending on fast-moving consumer products such as nutritious beverages, beer, and soft drinks is pushing sales of beverages processing equipment despite the global pandemic of COVID-19. Online sales channels are having their moment, as lockdowns, social distancing norms, and mass closure of retail stores continue to hamper scenarios at brick and mortar stores. According to a new report of Future Market Insights (FMI), the global beverages processing equipment market will surpass revenues of approximately US$ 27.7 Bn by 2029 end. Hectic lifestyle, rapid urbanization, technological advancements, and popularity of convenience products will continue to inflate sales further.
Ready-to-drink beverages have become popular among consumers owing to their busy lifestyles and resulting need to stay hydrated all day. The rising demand for clean, gluten-free, low-calorie and low-carbon foods has led to the rise in demand for non-carbonated in the food industry.
Consumers are becoming health conscious due to which the consumption of low-calorie and nutritious beverages such as fruit juices has increased. In Asia-Pacific and Latin America as well consumers are likely to follow this trend and exhibit high demand for low-calorie drinks in the years to come. This would fuel the demand for non-carbonated drinks. Dynamic beverage manufacturing equipment market.
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“Market leaders must divert substantial resources towards high-growth regions such as Asia Pacific to leverage lucrative opportunities,” finds the FMI report.
- Some of the leading companies operating in the beverage processing equipment market are Alfa Laval, GEA Group, Tetra Pak, HRS Process System, Armo Manufacturing, KHS, Krones Group, Pentair, SPX Flow, Bucher Industries and Factory Automation.
- Many of these companies are increasing their production efficiency and introducing market-capture automation to the machinery to gain competitive advantage
- For instance, India-based equipment firm, Alfa Laval has increased its R&D investment to boost energy efficiency and ensure lesser impact on the environment
Key Takeaways of Beverages Processing Equipment Market Study
- Growing preference for low-carbon, low-calorie, and gluten-free foods is the driving force of market.
- Brewery equipment remains highly favored by manufacturers followed by heat exchanger.
- The carbonated drinks segment will complement the growth of market owing to widespread popularity among younger population.
- Asia Pacific will hold the leading share in the global beverages processing equipment market during the projection period.
Key Growth Drivers
- Growing popularity of ready-to-drink beverages is favoring the growth of beverages processing equipment market.
- Favorable policies in emerging Asian economies such as China and India are contributing to the revenue pool of market.
- Continual efforts by leading manufacturers towards automation are shaping the global beverages processing equipment market.
- Rising living standards, per capita income, and population in Asia Pacific will bode well for regional beverages processing equipment market through 2029.
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- Product-related safety requirements coupled with complex manufacturing processes will slow down the growth of emerging players in the beverage processing equipment market.
- Stringent government regulations will impede the growth of beverages processing equipment market over the forecast period.
Anticipated Impact of COVID-19 on Beverages Processing Equipment Market
Due to ongoing COVID-19 pandemic, consumers have turned to ecommerce channels for the delivery of dairy, alcoholic, and non-alcoholic beverages. This factor has bolstered the growth of beverages processing equipment market during the current public health crisis. Even though the purchasing habits of consumers have altered, the overall demand has benefited during the lockdown as people continue to spend more time at their homes. However, companies in beverages processing equipment market are working with reduced workforce due to social distancing protocols. Moreover, demand for premium alcoholic beverages will slightly decline while it will increase for mid-priced drinks. Hence, the pandemic has not led to drastic changes in the beverages processing equipment market except for delivery pattern.
Competitive Landscape of Beverages Processing Equipment Market
The beverages processing equipment market is characterized by the presence of numerous regional and international players. Some of the key players in the global beverages processing equipment market that are featured in this FMI report include, but are not limited to, Praj Industries, Pentair, KHS GmbH, JBT Corporation, SPX Flow, Bucher Industries, Krones Group, Alfa Laval, Tetra Laval, GEA, Central States Industrial, Bevcorp Beverage Equipment, Lee Industries, Carmel Engineering, Inc., Shanghai Joylong Industry Co., Mojonnier, Techniblend Inc., and Dematech. Pricing strategies, technology integration and product quality are key focus areas of leading players in beverages processing equipment market. Moreover, top manufacturers must prioritize lean time management, product performance, and productivity for indubitable competitive ascendancy.
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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
Mr. Debashish Roy
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