Beverage Processing Equipment market is valued at US$ 16.2 billion in 2018, registering stable growth of 5.6% during the forecast period (2018-2028).
Technology up-gradation and consumer awareness are key factors boosting the overall sales of equipment worldwide. The beverage industry is slowly shifting towards organized setup. This helps beverage manufacturers to lower their operational cost and enhance the operational efficiency. The main impetus for gains will come from increasing automation and robotics. On an average, nearly 25% increase in productivity has been noted with automation. As such, it is likely to witness steep rise in sales of such equipment during the forecast period.
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The recent findings by Bekryl shows Asia Pacific to witness 38% of total net sales in 2018. The share will further rise with change in macroeconomic situation. The region leads the industry not only in terms of sales value but also growth rate – creating highest incremental opportunity in the region. Growth in the region is primarily attributed to the fact that demand for processed foods has increased significantly in South East Asia.
China will continue to dominate the Asia Pacific beverage processing equipment demand. While China is self-sufficient in production and sales of these equipment, its counterpart – South East Asia procures most of the demand via import from China and Western Europe. For instance, in 2016, India imported over USD 190 million worth food and beverage processing equipment from Italy, Germany and China. FDI relaxation in the region is expected to further create favorable business environment for industry players.
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Some key trends from the global beverage processing equipment market:
Trend #1: Increased Focus on Production Efficiency in Asia Pacific and CEE
The global competitiveness has increased in last few years. The beverage industry including global beverage processing equipment market size is highly competitive and is volume intensive. Plant set-up in close proximity to beverage manufacturing location could help global beverage processing equipment companies to lower their operational expenses and generate higher ROI. As such, industry leaders including Tetra Pak and Alfa Laval are taking a series of strategic initiatives to strengthen their market share globally.
Alfa Laval has nearly 42 major production units including 10 in Asia Pacific to meet the end-user demand. Another leading company – Tetra Pak – is about to start its new closures production facility in Thailand by 2018, Asia.
Trend #2: Asia Pacific and Latin America to create Higher Revenue Opportunity
Developing regions will create 2.5X higher revenue opportunity than North America and Western Europe. Among these, Asia Pacific and Latin America will act as key geographical regions. Asia Pacific is expected to be the only region to register a CAGR of 8.5% – higher than global average.
Trend #3: Beverage Processing Equipment Market to Gradually Shift Towards Industry Consolidation
Higher influx of regional players and increased competition has led leading companies to opt for inorganic growth strategy. A series of mergers/acquisitions took place in the industry in last few years. For instance, in 2016, JBT Corporation purchased the assets of Cooling and Applied Technologies, Inc. for USD 90 million.
Another such development was witnessed in Europe wherein, in 2017, GEA Group acquired Vipoll – manufacturer of filling technologies for carbonated soft drinks. Vipoll witnessed net profit of around USD 995 thousand on USD 20 Million revenue in 2016. In the same year, Tetra Pak – acquired Johnson Industries International – manufacturer of equipment and lines to produce mozzarella cheese.
Trend #4: Brewing and Carbonation Equipment to Dominate the Global Sales
Brewing and Carbonation equipment is estimated to account for 48% of global beverage processing equipment market sales in 2017. Over 70% of the carbonated soft drinks market in developed region is captured by The Coca-Cola Company and PepsiCo Inc, – leading to concentrated end-use market for equipment manufacturers.
Some key global beverage processing equipment market players are Armo Manufacturing, Krones Group, Pentair, Alfa Laval, SPX Flow GEA Group, Tetra Pak, Branom Instruments, KHS, Bucher Industries HRS Process System, Factory Automation, Lee Industries, and Stainless Fabrication, Inc.
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