The global beverage processing equipment market is estimated to be valued at USD 19.22 billion in 2020 and is projected to reach USD 26.33 billion by 2027, recording a CAGR of 4.5 % from 2020 to 2027. The market for beverage processing equipment is on the rise as the consumers across the globe are spending on soft drinks and beers due to improved standard of living of the consumers. Consumers have become more health conscious and they demand healthy beverages with low fat, low cholesterol, low sugar, new flavours. These factors are influencing the market for beverage processing equipment. Also, the demand for fortified beverages has increased as the consumers are more inclined towards healthy drinks that have essential micronutrients. This has led to the growth of non-alcoholic beverage segment during the forecast period.
The companies in beverage processing equipment are focusing on expansions, new launches and develop technologically advanced beverage processing equipment, thereby driving the market for beverage processing equipment. The drivers for this market include increasing disposable income, busy lifestyle, technological advancements, increasing demand for fortified beverages. Beverage processing equipment vary in terms of features, sizes, and specifications depending upon the type of beverage.
Beverages are drinks except water prepared for human consumption. Their use in the form of refreshments and health supplements is expected to increase over the forecasted period. Beverage processing transforms raw materials including fruits, vegetables, water and flavouring agents into drinks. Its production line has multiple sections that include water filtering & sterilizing, syrup preparation, blending, mixing of ingredients, carbonating, fermentation, storing and filling. Carbonation process depends on whether the dink is aerated or non-aerated. Alcoholic drinks process is different and these are prepared in brewery.
Restraint for beverage processing equipment market is its complex production process. Production processes are becoming complex with increase in demand of higher production and better taste & quality. Efficiency of these equipment to produce hygienic drinks has been questioned with cases of some unwanted materials in soft drinks. Further the safety standards of machinery may restrict the growth of product.
The key players profiled in the beverage processing equipment market include Tetra Laval (Switzerland), GEA Group (Germany), Alfa Laval (Sweden), Krones Group (Germany), Bucher Industries (Switzerland), SPX Flow (US), JBT Corporation (US), KHS GmbH (Germany), Pentair (US), and Praj Industries (India). These companies are focusing on strategies such as new product launches, expansions & investments, acquisitions, agreements, joint venture, and partnerships to expand their operations across the globe.
North America is the largest beverage processing equipment market due to rise in regional consumption both alcoholic & non-alcoholic drinks. Presence of key players including PepsiCo and Coca Cola and their research & development facilities further boost industry growth. Asia Pacific has substantial share in beverage processing equipment market with ever increasing population and rise in living standards. China is largest producer of beer and planning to increase its production by around 4.5 % that has augmented the demand of product. Companies are making huge investments to expand their market share in this region. Europe has significant share with increasing dairy alternative products as consumers have become more health conscious in this region. Middle East & Africa has nascent share and expected to grow with growing demand for non-aerated and multi-functional drinks like energy drinks & juices.
Report : Beverage Processing Equipment Market - By Type (Brewery Equipment, Filtration Equipment, Carbonation Equipment, Sugar Dissolvers and Blenders & Mixers, Heat Exchangers, Others), By Beverage Type (Alcoholic Beverages, Dairy Beverages, Non-Alcoholic Beverages), And By Region (North America, Asia Pacific, Europe, Middle East & Africa and Latin America) - Industry Analysis, Opportunity and Forecast 2020 To 2027