Food & Beverage Industry Pumps Market Insights, Forecast to 2027by Mit K. SEO
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. Food manufacturers are increasingly focusing their attention on achieving low production costs, rapid turnaround time, and high yield. This is facilitated through incorporating advanced pump technologies. The form in which the food material being processed comes in significantly influences the specific type of pumps employed as some food & beverage industry pumps are better suited for one form over another.
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Increase in demand for meat and poultry in Asia pacific
The consumption and production of meat, particularly in developed countries, remains high. The demand for meat and poultry products is expected to increase in developed countries such as the US, supported by factors such as lower prices of beef, pork, and poultry; increasing focus on enhancing the shelf life, quality, and safety of meat products; and the rising per capita consumption of meat. Meat & poultry-related pumps are expected to offer significant potential due to the growing meat & poultry industry. According to an article on Food Price Outlook, 2018, published by the USDA Economic Research Service, “the year 2018 is expected to exhibit a positive outlook for the pork industry as the number of pork processing facilities is expected to increase, which is expected to drive pork production further.”
Configured to grow at the fastest CAGR during the forecast period.
Configured pumps are sized and configured according to the flow rate and pressure requirements of the system or service. Pumps and pumping system components must be configured according to the needs of the end-use processes. There are several steps involved in the configuration of a pumping system. These include determining the proper pipe size, designing a piping system layout that minimizes pressure drops, and selecting low-loss components. To determine the proper pipe size, designers must balance the initial cost of the pipe against the cost of pushing fluid through it. Larger pipes create less friction loss for a given flow rate; however, larger pipes also have higher material and installation costs.
North America is projected to reach USD 3,162.9 million during the forecast period.
In 2021, North America accounted for 24.9% of the global food & beverages industry pumps market share. The markets within North America studied for this report are the US, Canada, and Mexico. North America is home to various multinational food manufacturing companies. Due to the busy lifestyles of consumers, there is a need to reduce the time required for cooking. As the time available for cooking is reduced, there is an increasing demand for processed food & beverage and frozen bakery products, a rising demand for processed meat in varied flavors, growing investment in meat processing facilities, an increasing safety requirement for processed meat products, a rising export to other countries, and the technological innovation has increased.
The key players in this market include Alfa Laval (Sweden), Fristam Pumpen Kg (Gmbh & Co.) (Germany), SPX Flow (US), GEA Group (Germany).
Created on May 10th 2022 09:27. Viewed 102 times.