Frost & Sullivan: Tiered Strategy Will Help Pump Manufacturers Gain Ground as New FDA Food Safety Regulation (FSMA) Strengthens Demand Immense opportunities lie with small-sized food and beverage businesses as many large food processors already comply
MOUNTAIN VIEW, Calif., March 6, 2014 /PRNewswire/ -- The U.S. Food and Drug Administration (FDA)'s efforts to constantly improve regulations regarding sanitation and public safety have widened the scope of the pumps market in the U.S. The implementation of the Food Safety Modernization Act (FSMA) in particular, will spur the adoption of pumps across the food and beverage industry for production, collection, processing and packaging. However, the impact of this regulation will be unique across the value-chain, and pump manufacturers need to understand the specific challenges to realize market potential.
New analysis from Frost & Sullivan (www.manufacturing.com), FDA Regulation and Its Impact on the Pump Market, finds that the food and beverage sector is expected to spend more than $1.5 billion on pumps over the next three years. The study covers centrifugal and positive displacement pumps.
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"With the FSMA placing the responsibility of contamination-prevention in sanitary applications on food processors, the demand for pumps in the U.S. is poised for steady growth," said Frost & Sullivan Industrial Automation & Process Control Research Analyst Sakthi Sobana Pandian. "Since large businesses are already compliant and the FSMA's influence on them will be minimal, focus will shift to small and medium businesses."
While food safety requirements will be important in these small companies, factors such as cost, lack of awareness, and understanding of regulatory requirements, could pose a challenge. To succeed with small and medium businesses, emphasis on creating product awareness will be crucial.
Innovation will also be essential to encourage uptake by small businesses. Pump manufacturers must partner with equipment providers to stay abreast of the frequently modified processes. Smaller pump companies can also work with small and medium businesses to customize product solutions and provide added value.
"Sales and distribution strategies for pumps must vary for different customer tiers," advised Pandian. "In fact, a tiered strategy fitting the needs for this regulated industry will help seize the opportunities in this dynamic landscape."
FDA Regulation and Its Impact on the Pump Market is part of the Industrial Automation & Process Control (http://www.industrialautomation.frost.com) Growth Partnership Service program. Frost & Sullivan's related studies include: European Smart Pumps Market for the Water and Wastewater Industry, North American Intelligent Pumps Market, and Pumps Market in the European Shale Gas Industry. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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FDA Regulation and Its Impact on the Pump Market
Corporate Communications – North America
SOURCE Frost & Sullivan