Beverage Processing Equipment Market size is anticipated to witness healthy growth during 2023 to 2032, owing to in applications in food & beverages industry. Rise in living standards has increased the consumption of beverages such as soft drinks, juices, and beer. As per credible sources, the global beer consumption in 2021 stood at whopping more than 185 million kiloliters.
Increase in disposable income will further enhance customer spending on drinks. Their growing consumption will also benefit food processing employment sector and further drive the market demand.
Latest technological innovations and expanding construction of new plants to support growing need for beverages worldwide would offer lucrative opportunities for beverage processing equipment market vendors in the coming years. In 2022, Vietnam’s largest dairy firm, Vinamilk announced establishing two high-tech plants to accelerate the milk production capacity in the country. The new facility is set to boost the company’s production capacity by 20%.
Based on type, the non- carbonated segment would amass notable gains through 2032, driven by the increasing demand for functional drinks. Consumers are becoming health conscious and intake of low calorie and healthy drinks such as fruit juice has escalated.
In terms of application, the beverages segment will gain remarkable momentum during the forecast timeline, due to presence of large variety of products including soft drinks and beer. Dairy application maintains substantial industry share with its use in almost every part of the world and new variants have further spurred the market expansion. Growing consumption of fruit & vegetable squashes has risen with changing customer preference towards non-aerated drinks.
Based on equipment, beverage processing equipment market from the filtration systems segment is expected to capture significant revenue share till 2032, given innovations in procedures that increases shelf life of the product. The equipment boasts huge application in separation and filtration of raw materials to produce end product. Furthermore, these are used in almost every processing industry due to increasing demand for fortified drinks.
Geographically, North America is the largest beverage processing equipment industry due to rise in regional consumption both alcoholic & non-alcoholic drinks. According to reports, 63% Americans have reported consuming alcoholic beverages. Presence of key players including PepsiCo and Coca Cola and their research & development facilities would further fuel the industry growth.
Asia Pacific accounts for substantial share in beverage processing equipment market with ever increasing population and rise in living standards. In India, beer comprises of about 12% of the total alcohol consumption.
Europe is anticipated to stand tall as a growth hub in global beverage processing equipment industry given the increasing consumption of dairy alternative products as consumers have become more health conscious in this region. Middle East & Africa enjoys considerable share and is expected to grow with thriving demand for non-aerated and multi-functional drinks like energy drinks & juices.
Major players involved in beverage processing equipment market are Alfa Laval, GEA Group, Tetra Pak, HRS Process System, Armo Manufacturing, KHS, Krones Group (Klöckner-Werke), Pentair, SPX Flow, Bucher Industries and Factory Automation. Companies are increasing production capacity and bringing automation in the machinery to capture the market.