Study: Meat, juice categories dominate market growth in high-pressure processing equipment
Changing lifestyle and eating habits resulted in significant increase in demand for processed, packaged food products and ready-to-eat foods across the globe.
The global high-pressure processing (HPP) equipment market is projected to expand with an estimated CAGR of 12.3% in terms of volume by 2026, according to Research Report Insights (RRI), Canada.
The report, “High Pressure Processing Equipment Market by 2026,” projects the market size on the virtue of adoption of HPP equipment for cold pasteurization in the global food and beverage industry.
Among applications-based segments, the juice and beverage segment is anticipated to register relatively higher CAGR in terms of value over the forecast period. Global sales of HPP equipment was valued at $133.5 million by the end of 2016, and is expected to create an incremental dollar opportunity of $350.5 million by 2026. In fact, the North American HPP equipment market occupied a lion share of 40.3% in 2016, and is expected to continue its dominance throughout the forecast period.
Changing lifestyle and eating habits resulted in significant increase in demand for processed, packaged food products and ready-to-eat (RTE) foods across the globe. Also, increasing health concerns and growing awareness about benefits associated with consumption of “clean label” food among consumers is expected to propel growth of HPP equipment market over the forecast period. Moreover, stringent food safety regulations in countries like the United States and European Union nations are expected to influence the HPP equipment market.
- The horizontal vessel type segment is anticipated to continue to dominate the market in terms of value over the forecast period.
- The meat segment is anticipated to dominate the market in terms of value and volume, while the juice and beverage application segment is anticipated to witness robust growth in terms of value and volume over the forecast period. In terms of value, the juice and beverage segment is expected to expand at a CAGR of 15.5% over the forecast period.
- The above 300 liters segment is expected to be the most attractive in terms of CAGR and market share.
North America and Europe collectively controlled 75% share of the global HPP equipment market value in 2016. The North American HPP equipment market is expected to remain dominant over the forecast period. This growth is expected to be driven, primarily, due to high demand for HPP equipment in various end-use applications and among tolling services providers. Countries in Asia Pacific region, especially China, are expected to witness robust growth in adoption of HPP equipment during the forecast period.