Beverage Processing Equipment Market
The Beverage Processing Equipment Market was valued around USD 19,300 million in 2019, growing at a CAGR of 5% over the forecast period (2020–2027).
The factors driving the growth of Beverage Processing Equipment Market includes rise in the consumption of alcohol across the globe, increasing cases of diabetes and obesity and growing demand for low cholesterol beverages. As per the data available at Statista, the alcohol consumption in India was estimated around 4.86 billion liters in 2020 and is predicted to reach 6.21 billion liters by the end of 2024, which is expected to boost the Beverage Processing Equipment Market size in the approaching years. Moreover, the integration of advanced technologies such as Artificial Intelligence (AI), Machine Learning (ML) and Internet of Things (IoT) with the beverage processing equipment and rise in the popularity of soft drinks, are some of the additional factors supplementing the Global Beverage Processing Equipment Market. In addition, improvements in the manufacturing capacities, rapid growth in the food and beverage industry, increasing investments by leading players on research and development, rising disposable incomes and growing population growth rates, are further contributing to the market growth.
However, the growth of Beverage Processing Equipment Market is hindered due to high cost of beverage processing equipment.
The prominent players operating in the Beverage Processing Equipment Market are JBT Corporation, KHS GmbH, Pentair, Tetra Laval, GEA Group, Alfa Laval, Praj Industries, Krones Group, Bucher Industries and SPX Flow, among others.
Type: Segment Analysis
Based on Type, the Brewery Equipment segment is expected to capture the largest market share during the forecast period attributed to increasing use of brewery equipment in the production of beers across the globe.
Beverage Type: Segment Analysis
Based on Beverage Type, the Alcoholic segment is anticipated to grow at a remarkable CAGR over the forecast period owing to rise in the number of microbreweries and growing popularity of low-calorie beers in Europe.
Regional: Segment Analysis
Based on Region, the Asia-Pacific region is projected to expand at a significant CAGR during the forecast period. The growing demand for carbonated beverages, expansion of the beer industry, rise in the number of liquor stores, increasing disposable incomes, improvements in the living standards, rapid urbanization, and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific.
Global Beverage Processing Equipment Market by Type
Global Beverage Processing Equipment Market by Beverage Type
Global Beverage Processing Equipment Market by Region
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