The incessantly increasing consumption
of processed and ready-to-eat food products coupled with the dire need to
produce significant amounts of processed food to cater to the demand is considered
to be the prime dynamics for the growth of the food and beverage processing
equipment market size. The growth of developing countries, globalization and
rapid industrialization across the world has resulted in growth in urban
population. The urban
population in 2018 was accounted for 55% of the total population, and it is projected
to reach 68% by 2050. The people in urban areas are highly engrossed in hectic
lifestyles and have little time for household chores such as cooking regular
meals.
This has led to the spike in demand and consumption of for processed, convenience,
and ready-to-eat food products. For instance, owing to the increasing
consumption of processed food in India, the country’s food processing industry,
which ranks fifth in the world in terms of production, consumption, and
exports is growing at 8%, annually, for the last five years from 2014-18. The perpetually
growing demand for the aforementioned food products has further instigated the
food manufacturing companies to consistently deploy innovative equipment such
as food machines, bakery equipment, packing machines, and food emulsifiers in the
food processing line to mitigate the supply-demand gap in the processed food
market. Thus, the propensity towards the processed and convenience food
products is expected to be the eminent factor fortifying the food and beverage processing
equipment market size.
The food and beverage processing equipment
market share was valued at $57 billion in 2018. Furthermore, the growing demand
for processed food products is poised to propel the growth of the market at
a standard CAGR of 6% during the forecast period 2019-2025.
Food
& Beverage Processing Equipment Market Leveraging Industry 4.0—
With the emergence of Industry 4.0 revolution,
there is an increase in the adoption of technologies such as automation, Internet
of Things (IoT), and machine learning to improve the existing processing
equipment. The technological advancements increased the efficiency and quality
of the production and assist in reducing the carbon footprint and overall
production cost. These beneficial factors are instigating the food manufacturers
to replace their traditional processing equipment with the technologically innovative
energy-efficient variants. Thus, the technological advancements in the food
processing industry is fuelling the growth of the food and beverage processing
equipment market.
Asia
Pacific Region Providing Prospects for Food & Beverage Processing Equipment
Market Growth—
On the basis of region, Asia Pacific is
considered to capture the largest food and beverage processing equipment market
share during the forecast period and was responsible for 35.2% of the total
revenues generated in 2018. The dominance of this regional market is mainly
attributable to the propitious growth of the food processing industry in the developing
economies such as China, India, Indonesia and Thailand. The growing inclination
towards the consumption of processed and convenience food in this region is due
to the rapid urbanization and industrialization. In China, the food processing market
size increased by 6.3% from 2016 to 2017 and attained $1.47 trillion. Whereas, in India, the food
processing market was valued at $322 billion in 2016 and expected to reach $543
billion by 2020, with a CAGR of 14.6%.
Therefore, the booming food processing industry
is considered to be the prime impetus for the growth of the regional food and
beverage processing equipment market. Moreover, with the growth in the economy,
there is a rise in the disposable income of the people, consequently increasing the
purchasing power. Wherein, the growth in disposable income can be fathomed from
the growth in GDP per capita. The GDP per capita
in India increased from $1730 in 2016 to $2015 in 2018, in China it increased
from $8078 in 2016 to $9770 in 2018. The growth in disposable income has led to
an increase in preference for healthy and functional food products. This further
instigated the food and beverage manufacturers to adopt new equipment such as food
processors, to meet the demand for fortified and health food products. Thus, the
growing emphasis on healthy foods is propelling the market in this region.
Furthermore, the incessantly increasing population in this region, especially
India and China created a major gap in the food supply and demand. The total population in India and China reached 1.35 billion
and 1.39 billion respectively in 2018. Due to the growing food supply-demand
gap, the food manufacturers are on a quest to preserve the quality of the food
products until it reaches the consumer by adopting innovative technologies such
as non-thermal processing and ultra-high temperature (UHT) processing. Thus, the
increasing food demand is benefiting the food and beverage processing equipment
market in this region.
Food
& Beverage Processing Equipment Market Companies’ Strategies—
Major companies that are investing
heavily in research and development activities to introduce new products to the
global customers and thereby increase their brand name presence in the food and
beverage processing equipment market are Marel (Iceland), GEA Group AG (Germany),
Bühler Group (Switzerland), JBT Corporation (US), Alfa Laval (Sweden), TNA
Australia Solutions (Australia), Bucher Industries AG (Switzerland),
Equipamientos Cárnicos, S.L. (Mainca) (Spain), Clextral (France), SPX Flow
(US), Bigtem Makine (Turkey), Fenco Food Machinery (Italy), and Krones Group
(Germany). Moreover, these companies are continuously involved in adopting
business strategies such as acquisitions, mergers, partnerships, and
collaborations to stay ahead of their competitors and reach the global customers.
· In
June 2018, Marel announced its decision to acquire MAJA, a food
processing equipment manufacturer in German. This acquisition is intended to become
a complete provider of advanced food processing equipment and further to fortify the company’s presence in the global market.
· In
September 2018, Hiperbaric, launched its latest innovative groundbreaking
equipment, Hiperbaric 1050 Bulk. This equipment is capable of processing
beverages in bulk before filling in bottles, which is not possible with
traditional HPP equipment. It can process 10,000 L of beverages per hour with the lowest
processing cost and minimum energy consumption. This innovation is intended for
bulk production of HPP beverages to meet the global demand.
· In
January 2018, GEA Group AG, announced the completion of its acquisition of Vipoll,
a Slovenian company. This acquisition is intended to beverage filling
technologies to its existing processing equipment.
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Reports:
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