Transparency Market Research delivers key insights on the global food & beverages industry pumps market. In terms of revenue, the global food & beverages industry pumps market is estimated to expand at a CAGR of ~5% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in its report on the global food & beverages industry pumps market.
The global food & beverages industry pumps market is affected by several factors, including increased focus on production efficiency, processing time, and quality of food products, and rising demand for meat, poultry, dairy, bakery, and confectionery products. Thus, increasing food consumption in different regions is propelling the global market for food & beverages industry pumps.
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Food & Beverages Industry Pumps Market: Dynamics
Change in consumption habits of users is likely to drive the demand for bakery and confectionery products, which is expected to influence the food & beverages industry pumps market during the forecast period. Continuous growth in the number of meat consumers (for the protein aspect) is likely to influence the growth of food processing equipment in sea food, meat, and poultry. The white and green revolution in the food processing sector is likely to propel the expansion of the dairy and fruits & vegetables segment.
Safety norms mandated by the FDA, along with growing research and development activities on food processing equipment, have increased the trust of consumers in safety of processed foods. The food processing industry is adopting advanced equipment to deal with delicate and complex processes with automation and motion control requirements.
Companies across the value chain are expanding their business by improving their production capacity and modifying their production lines. Continuous growth in the number of beverage processors and overall consumption in the form of alcoholic and non-alcoholic beverages is likely to lead to the demand for food & beverages industry pumps.
Rising dependency on equipment to perform a wide range of primary and secondary food processing operations is influencing the growth of the food & beverages industry pumps market. Rapid growth in the consumption of alcoholic and non-alcoholic beverages is likely to drive the beverages sector and in turn fuel the expansion of the food & beverages industry pumps market.
Food & Beverages Industry Pumps Market: Prominent Regions
In terms of region, Asia Pacific seems to be the most lucrative market for food & beverages industry pumps. This is due to rising government support for the food processing industry, penetration of local and multinational players, and presence of a huge consumer base in the region. However, Europe and North America are gaining demand for food & beverages industry pumps to meet the requirements of end users.
In Asia Pacific, increasing reliance on food processing equipment and machineries to meet the ever-growing demand for processed food in countries such as China, India, and Indonesia is creating lucrative business opportunities for market players. The growing consumer preference for value-added and non-essential food categories such as processed meat, confectionary, and bakery products is also expected to reflect favorably on the region’s food processing equipment sector in the forthcoming years.
The U.S. is considered to be the biggest food & beverages industry pumps market in North America with a share of more than 60%, in terms of value, while the market in Canada is likely to expand at a rapid CAGR of 5.2%, in terms of value. This is due to rising production and storage facilities for processed food. In addition, continuous government support for food processing is expected to lead to the growth of the food & beverages industry pumps market in the upcoming years.
Europe is the hub for processed food globally. The rising consumption of processed food is likely to improve processed food production. This directly results in the growth of overall food & beverages industry pumps market, as manufacturers are enhancing their production capacity and switching to innovative solutions. Rapid growth of sea food and meat & poultry sectors is likely to drive the food & beverages industry pumps market.
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Food processors in GCC countries are focusing on increasing the volume of food produced locally and reducing their dependence of foreign import of processed foods. This is likely to provide an impetus for sale of food processing equipment in the region. The food & beverages industry pumps market in South America continues to be influenced by a confluence of several factors. Developing countries in South America, including Brazil, Argentina, Chile, and Colombia have witnessed high rate of urbanization, which has plateaued recently. The future sale of food & beverages industry pumps in South America will continue to be influenced by changing regulations and evolving consumer preferences.
Food & Beverages Industry Pumps Market: Key Players
Key players operating in the global food & beverages industry pumps market include Alfa Laval AB, Ampco Pumps Company Inc., BJM Pumps, LLC, Bominox, S.A., Charles Austen Pumps Ltd., Grundfos Holding A/S, Hammelmann GmbH, KSB SE & Co. KGaA, LEWA GmbH, PCM S.A., Pentair Plc., Tops Industry & Technology Co., Ltd., Verder International B.V., Pumpenfabrik Wangen GmbH, and Wastecorp Pumps.
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