NEW YORK, March 15, 2016 /PRNewswire/ -- "Beverage processing equipment market projected to grow at a CAGR of 6.1%"
The beverage processing equipment market is projected to reach USD 20.02 billion by 2020 at a CAGR of 6.1% from 2015 to 2020. The market is further driven by factors such as emergence of new technologies to increase the productivity, upgradation of equipment & machinery, and increasing demand for fortified drinks. The high growth potential in emerging markets and untapped regions provides new opportunities for market players.
"Brewery equipment accounted for the largest market share in 2014"
Brewery equipment accounted for the largest market share among the different equipment types for beverage processing. Brewery processing involves several highly priced equipment such as mash filters, fermenters, bright beer tanks, and more. Hence, the market size of brewery equipment in terms of value is high. This is followed by filtration equipment and carbonation equipment.
"Alcoholic beverage leads the market with the largest share"
On the basis of beverage types, the beverage processing equipment market is led by the alcoholic beverage market followed by the non-alcoholic beveragemarket. The non-carbonated beverage market is projected to grow at the highest CAGR from 2015 to 2020. Increasing demand for functional drinks such as fruit juice, energy drinks, sport drinks, and fortified health drinks led to the growth of this market for the next five years.
The figure below shows the breakdown of the primaries on the basis of company, designation, and region, conducted during the research study.
By Company Type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
By Designation: C level – 35%, Director level – 25%, and Others – 40%
By Region: North America – 30%, Europe – 20%, Asia-Pacific – 45%, RoW – 5%
"China contributed to the highest market share in the Asia-Pacific region"
The Asia-Pacific region dominated the beverage processing equipment market in 2014 and is projected to grow at the highest CAGR during the forecast period. This region is a large market for beverages and is continuously increasing due to the improved standards of living and purchasing power. This growth can be attributed because of high investment by the major players such as Coca Cola, PepsiCo, SAB Miller plc (U.K).
High amount of production and consumption in the countries such as India and China has been a responsible factor for the Asian market to be projected to grow at the highest rate.
Major players such as Alfa Laval (Sweden), Tetra Pak (Switzerland), GEA Group (Germany), Krones Group (Germany), Pentair plc (U.K.), KHS GmbH (Germany), SPX Flow, Inc., (U.S.), and Bucher Industries AG (Switzerland) collectively accounted for a majority of the global beverage processing equipment market. Other players in the market areBriggs of Burton PLC (U.K.), Mueller Co. (U.S.), JBT Corporation (U.S.), and Praj Industries Ltd. (India).
Reasons to buy this report:
- To get a comprehensive overview of the global beverage processing equipment market
- To gain wide-ranging information about the top players in this industry, their product portfolios, and key strategies adopted by them
- To gain insights of the major countries/regions in which the beverage processing equipment market is flourishing
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