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The plant-based beverages processing equipment market is estimated to grow at a CAGR of 8.94% between 2022 and 2027. The size of the market is forecast to increase by USD 1,328.36 million. The growth of the market depends on several factors, including increasing demand for single-serve, multi-packs, and sustainable packaging, increasing urbanization and changing consumer lifestyles, and shelf life extension of food products.
This report extensively covers market segmentation by product type (homogenizer, filtration, heat exchangers, filling and packaging systems, and others), type (soy, almond, oat, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report consists of historic market data from 2017 to 2021.
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Technavio categorizes the global plant-based beverages processing equipment market as a part of the global industrial machinery market. The parent market global industrial machinery market covers companies engaged in the manufacturing of industrial machinery and components covering presses, machine tools, compressors, pollution control equipment, elevators, escalators, insulators, pumps, roller bearings, and other metal fabrications. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
The shelf life extension of food products is notably driving the market growth, although factors such as chances of contamination while filling and packaging may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Plant-Based Beverages Processing Equipment Market Driver
The shelf life extension of food products is notably driving market growth. The reduction of food wastage has become a major concern for most countries. The Food and Agriculture Organization (FAO) of the UN estimates that 1.3 billion tons, or nearly one-third of food produced worldwide, are wasted annually. The wastage of products often leaves retailers with financial losses. However, vendors have devised various strategies to increase their profit margins. This will help maintain the product quality, thereby increasing the shelf life of plant-based beverages.
Manufacturers are spending heavily on modern technology and are designing products that will help store these beverages for a long period and help keep the food fresh. Additionally, end-users in the market are also opting for different types of plant-based beverage processing equipment to store different plant-based beverages such as soya and almond. Furthermore, many foodservice operators also use this equipment that helps them store beverages for increased shelf life. Therefore, such factors are boosting the global market growth during the forecast period.
Significant Plant-Based Beverages Processing Equipment Market Trend
Increasing health consciousness is an emerging trend in the market. One of the positive trends which can influence the growth of the global market in the coming years is the increasing health consciousness among consumers. The increasing instances of obesity and related diseases are making consumers more health-conscious. Hence, they demand food and beverage products that are natural and low in fat and calories.
Moreover, players have also started coming up with new plant-based products that have lower fat and calorie content to cater to the changing consumer demands. The health and wellness trend is gaining popularity among consumers, especially young consumers, in the age group of 18-32 years. Many consumers are also ready to pay a premium price for healthy products that offer various functional benefits. Therefore, the increasing demand for healthy food and beverage products will help grow the global market during the forecast period.
Major Plant-Based Beverages Processing Equipment Market Challenge
The chances of contamination while filling and packaging are major challenges impeding the market growth. Filling and packaging in the food and beverage industry is usually the last step before packaging a product and is used for almost all food and beverage products. However, the chances of cross-contamination are very high during the filling process. Food particles can also get stuck, trapped, or clogged in between various components of filling and packaging machines. For instance, while filling plant-based beverages, there is a chance that the food particles might get trapped between the elastomer seals of the filling heads. Additionally, food particles might also get stuck to the piston shaft, thereby obstructing the piston motion. This will result in an irregular filling operation, besides leading to contamination.
Therefore, such problems can lead to increased maintenance costs incurred on plant-based beverage processing equipment, as cleaning it would require extra effort. These factors might restrict the sales of such filling equipment over the next five years. Hence, factors like these will have a negative impact on the growth of the global market during the forecast period.
Key Plant-Based Beverages Processing Equipment Market Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Plant-Based Beverages Processing Equipment Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Coperion GmbH - The company operates under one segment. The company under this segment focuses on compounding, extrusion, and materials handling systems for the transport of bulk materials, pneumatic conveying systems, bulk solids heat exchangers, filters and separators, and sifter and pellet cleaners. The key offerings of the company include plant-based beverages processing equipment and other related products.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the homogenizer segment will be significant during the forecast period. Homogenizers are commonly used in the food and beverage industry. They are high-pressure pumps with a sanitary head on which the homogenizing valves are mounted. The homogenizing procedure is extremely helpful in the processing of plant-based beverages.
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The homogenizer segment was valued at USD 718.32 million in 2017 and continued to grow until 2021. End consumers seek to recognize the contents of pre-packaged foods and experience the same taste whenever they consume them. All this becomes possible through homogenization. Most homogenizer machines make use of high-pressure systems to blend various substances properly. For instance, soy beverages are harder to homogenize than milk. If soy milk is extracted by crushing, and the protein level is higher than 3%, the homogenizer should be placed downstream of the heat treatment as it reduces sedimentation. The plant-based beverages processing equipment market adopted these processes to speed up the manufacturing line. Therefore, these factors will drive market growth during the forecast period.
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APAC is estimated to contribute 63% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The prominent growth of the market in APAC is mainly due to the introduction of global brands, partnerships of global brands with suppliers and retailers, government initiatives to promote the consumption of plant-based food products, growing awareness among people about the benefits of plant-based beverages, and rapid growth in the vegan population. China is the most prominent market for vendors of plant-based beverages due to concerns regarding the degrading quality of meat and health issues associated with meat products. Moreover, the increasing consumer spending on food and dietary products will further fuel the sales of plant-based beverages in China.
Additionally, the strong economic growth of countries such as India and China will also help in the growth of the market in APAC, and is expected to be the fastest-growing economy globally during the forecast period. Thus, the market is expected to register a high growth rate in APAC.
The COVID-19 outbreak in 2020 hindered the growth of the regional market. However, in 2021, owing to the mass vaccination drive and other government initiatives, lockdown restrictions were lifted, and business operations resumed. Owing to the resumption of the food industry, retail stores, and food supply the regional market gradually revived. Additionally, the increasing demand for plant-based beverages is also driving the growth of the market. Hence, these factors will boost the growth of the regional market during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and analyzes the latest trends and growth opportunities from 2017 to 2027.
Plant-Based Beverages Processing Equipment Market Scope |
|
Report Coverage |
Details |
Page number |
177 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.94% |
Market growth 2023-2027 |
USD 1,328.36 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
8.2 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 63% |
Key countries |
US, China, India, Japan, and Thailand |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
ABB Ltd., Alfa Laval Corporate AB, Andritz AG, Buhler AG, Coperion GmbH, Enprosyst Solution Pvt. Ltd. , Erich NETZSCH GmbH and Co. Holding KG, Flottweg SE, GEA Group AG, Hosokawa Micron Corp., HRS Process Systems Ltd., KHS GmbH, KRONES AG, Pro Mach Inc., Seppelec S.L, SiccaDania, SPX FLOW Inc., TCP Pioneer Inc., TechQu, and Tetra Pak Group |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product Type
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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