Demand for Beverage Processing Equipment Follows an Increasing Trend with Growing Beverage Industry
The beverage processing equipment market is projected to grow from USD 20.4 billion in 2021 to USD 26.4 billion by 2026, recording a compound annual growth rate (CAGR) of 5.3% during the forecast period.
The multi-dimensional beverage industry is growing on a globally scale, and therefore, there is a visible increase in the demand for beverages, be it alcoholic, non-alcoholic, or dairy beverages. Though the beverage sector witnessed a revolutionary change in terms of shifting toward a healthier profile, the demand for equipment follows an increasing trend. An increasing processing industry, especially in the developing regions, growing craft breweries, and the development of new technologies in the beverage processing industry are prominent factors driving the beverage processing equipment industry.
Carbonated beverage segment is estimated to dominate the beverage processing equipment market in 2021
By non-alcoholic beverage type, the carbonated beverage segment is estimated to dominate the beverage processing equipment market in 2021. Among non-alcoholic beverages, soft drinks are among the highly consumed beverages. The increase in consumption has been among children and adolescents. A recent trend observed among the health-conscious generation X and Y is the increasing popularity of sparkling water with added flavors. Sparkling water contains magnesium, calcium, and vitamins with several health benefits. This allows consumers to maintain a healthy choice without missing out on fizz and taste.
The brewery equipment segment is estimated to account for the largest share in the beverage processing equipment market in 2021
By type, the brewery equipment segment is estimated to account for the largest share in the beverage processing equipment market in 2021. The level of consumption of beer has witnessed exponential growth in India. This rising demand and popularity of craft beer in India has increased the number of microbreweries and has encouraged small craft brewers to scale up their production. Some of the factors that have worked in favor of this industry in India are-demand for better quality and varieties of beer by the millenniums, the increased number of social gatherings spots in the cities offering beer and the introduction of canned beer for on-the-go consumers. Technology has also influenced the beer-making process; one such example can be that of the introduction of AI technology in the brewing process. ‘AI-Brewed Beer’ is the use of artificial technology to expedite the brewing process.
The Asia Pacific market is projected to grow at the highest CAGR during the forecast period
The beverage processing equipment market in the Asia Pacific region is projected to grow rapidly due to the enhanced economic growth in the last decade. The food industry has also played an important role in the region’s economic development. Beverage consumption in the regions is also gradually increasing, owing to expanding population, rising income, and rapid urbanization. This growth can be attributed to the high demand for non-carbonated, low-calorie drinks, especially health drinks, fortified drinks, and the Indian government’s initiative for industrialization.
The beverage processing equipment market is diversified and competitive, with a large number of players. The key players in this 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). The key market players have adopted strategies such as expansions & investments, acquisitions, new product & technology launches, agreements, collaborations, joint ventures, and partnerships to meet the growing demand for beverage processing equipment.
The beverage processing equipment market is projected to grow from USD 20.4 billion in 2021 to USD 26.4 billion by 2026, recording a compound annual growth rate (CAGR) of 5.3% during the forecast period. The multi-dimensional beverage industry is growing on a globally scale, and therefore, there is a visible increase in the demand for beverages, be…
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