Food and Beverages Industry Pumps Market to Witness Huge Growth by 2027

The demand for processed food and beverages is significantly growing, driven largely by changing lifestyles and increased consumerism. In addition, the market for infant and pet food is also spurring the growth of processed food. This is expected to result in increased demand for positive displacement pumps, such as gear and lobe pumps, used in the production of processed food. As the food companies need a reduction in the unit cost of delivery, companies are striving to boost the performance and efficiency of pumps actively. The global food & beverages industry pumps market is estimated to be valued at USD 9.9 billion in 2022. It is projected to reach USD 12.9 billion by 2027, recording a CAGR of 5.3% during the forecast period.

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The Chinese food & beverages industry pumps market is fragmented with the presence of small and medium-sized manufacturers that are focused on offering a limited range of products. The presence of a large number of manufacturers is also driving the growth of this market. China’s food processing industry is maturing, and growth is moderating. Consumers have become increasingly interested in eating more natural and healthier foods while valuing convenience and attractive packaging. Food processing accounts for 60%of the sector. However, the fastest growth is now in the beverage sector, where the trend for natural, healthy, and convenient ready-to-drink smoothies, yogurts, and juices represents China’s transition from “eating full” to “eating well.” The rise in demand for processed food & beverages in China has led several international players, such as Mondelez International, Ferrero, Nestlé, and PepsiCo Inc, to set up advanced manufacturing plants in the country to meet the domestic demand.

Food & beverage industry pumps, by type, are segmented into centrifugal and positive displacement pumps. The key megatrend in the equipment category is sustainability. Aside from functionality and cost-effectiveness, the most important attribute requested by customers is sustainability. Customers expect sustainability, so businesses are keeping an eye on the trend and improving the sustainability of their products. One-fourth of all innovation initiatives initiated by GEA (Germany) aims to improve the sustainability of the technologies used. This pattern is expected to continue in the coming years.

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The alcoholic beverages market has been witnessing significant growth. There has been an increasing trend of offering craft breweries with less or no alcohol brews and cans. For example, few craft breweries specialize in offering low alcohol beverages, such as the Infinite Session, Big Drop, and Small Beer, which are offering low alcohol beers to their customers in the US. According to the statistics published by the Brewers Association, craft breweries contributed more than USD 67 billion in 2016. Craft breweries account for 98% of the total breweries operating in the US. As per the Brewers Association, there was a 16% rise in the number of breweries in 2017, with around 997 new breweries. This rise in the number of breweries will have a positive impact on the growth of the beverage industry pump market. Along with craft beers, hard alcohol and premium beers, such as Michelob Ultra, are witnessing an increase in popularity even though the overall alcohol consumption, in terms of volume, is on the decline.

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Created on Nov 23rd 2022 03:11. Viewed 171 times.

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