(I-BusinessNews.Com, July 28, 2020 ) The global beverage processing equipment market is estimated to be valued at USD 18.2 billion in 2019 and is projected to reach USD 24.3 billion by 2025, recording a CAGR of 5.0% from 2019 to 2025. The global market is projected to grow in parallel to the growth of the beverage industry. The increased consumption of alcohol, rising need for pasteurized milk to combat raw milk outbreaks, continuous upgradation in the equipment and machinery are factors driving the demand for beverage processing equipment.
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The brewery equipment segment is estimated to account for the largest share in 2019.
Based on type, the beverage processing equipment market is segmented into brewery equipment, filtration equipment, heat exchangers, sugar dissolvers and blenders & mixers, carbonation equipment, and others (cooling tunnels, storage tanks, and crushers). The brewery equipment segment is estimated to account for the largest market share in 2019. The rising demand for alcoholic beverages is projected to drive the growth of the market.
The dairy beverages segment is projected to witness the fastest growth in the beverage processing equipment market in 2019.
By beverage type, the beverage processing equipment market is segmented into alcoholic beverages, non-alcoholic beverages, and dairy beverages. The dairy segment is projected to record the highest CAGR during the forecast period. The rise in the consumption of dairy beverages has also led to an increase in the demand for processing equipment across regions.
The Asia Pacific is projected to account for the largest market share during the forecast period
The Asia Pacific accounts for the largest market share in the beverage processing equipment market. The market for beverage processing equipment in the Asia Pacific region is driven by the growing demand for beverages such as carbonated beverages, fruit juices, and alcoholic beverages. The Asia Pacific has a very large market for beverages; the improved standard of living of the people due to the rise in income levels is one of the major factors that is driving the beverage market in this region.
The key players profiled in the beverage processing equipment market include Tetra Laval (Switzerland), GEA Group (Germany), Alfa Laval (Sweden), Krones Group (Germany), Bucher Industries (Switzerland), SPX Flow (US), JBT Corporation(US), KHS GmbH (Germany), Pentair(US), and Praj Industries (India). These companies are focusing on strategies such as new product launches, expansions & investments, acquisitions, agreements, joint venture, and partnerships to expand their operations across the globe.
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