(Entertainment-NewsWire.com, January 13, 2022 ) According to MarketsandMarkets, 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 global 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.
The carbonation equipment segment is projected to grow at the highest CAGR during the forecast period.
The beverage processing market is segmented, based on type, into brewery, filtration, carbonation, sugar dissolver, blenders & mixers, and heat exchanger. The carbonation equipment segment is projected to grow at the highest CAGR during the forecast period. Carbonated beverage processing equipment leads the market as a result of an increase in demand for flavored beverages like sodas and sparkling water; moreover, carbonation is also performed in some of the dairy beverages. These innovations drive the market for carbonators.
The alcoholic beverage segment is projected to account for the largest share in the beverage processing equipment market during the forecast period.
The beverage processing equipment market is segmented, on the basis of beverage type into alcoholic, carbonated, non-carbonated, and dairy beverage. The alcoholic beverage segment is projected to be a leading segment in the beverage processing equipment market, in terms of value, due to the increasing consumption of alcohol in countries like developing countries like China and India.
The Asia Pacific region is projected to grow at the highest CAGR during the forecast period.
The Asia Pacific region is projected to grow at the highest CAGR in the beverage processing equipment market during the forecast period. With an increased focus on health and wellness, there is a growing emphasis on beverages with lower fat and sugar, which has also increased the demand for functional beverages. China is globally the largest tea producing country, accounting for 43.2 percent of the world total with an output of 2.6 million tonnes in 2018. China retained its position as the top producers for tea in the world, besides being the largest consumer of tea as well with almost 40 percent of world consumption.
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.
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