The market for high pressure processing systems is expected to reach a value of more than US$ 333.9 million by 2023, with a volume and a value CAGR of 12.8% during that time.One of the key inputs used to calculate the global market size is the adoption rate of HPP equipment for cold pasteurisation in the F&B sector.
Between 2016 and 2026, Canada is expected to represent an additional opportunity of more than US$ 10 Million in terms of sales revenue for high pressure processing equipment, growing at a CAGR of 11.2%. The growing demand for processed foods infused with additives is expected to increase sales of high pressure processing equipment in both Canada and the United States.
According to the report, Hiperbaric S.A a prominent manufacturer of high pressure processing equipment is the current leader in the global market as the company’s hold over the North American region is substantially strong.
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In its latest report, Future Market Insights (FMI) has identified few of the major trends governing the overall market for high pressure processing equipment (HPPE). In brief, rapid adoption of high pressure processing technique among premium juice manufacturers, automation and technological innovation and growing number of HPP tolling service providers are playing a major role in shaping the market trajectories currently.
FMI’s Insights on Growth Factors
• FMI indicates that the growing demand for processed, packaged and ready-to-eat food products worldwide is encouraging the use of high pressure processing equipment in food and beverage industry.
• Growing health concerns and increasing awareness amongst consumers on health benefits from “clean label” food is projected to influence the market growth during 2016 to 2026.
• Implementation of stringent regulatory norms pertaining to food safety, especially in North American and West European countries are compelling food processing companies to install efficient HPP equipment in processing plants.
Horizontal Vessels – Leading Arrangements Type Segment
Based on vessel arrangements type, the horizontal vessel is expected to be the predominant segment of the market in terms of value over 2026. Growing demand for horizontal vessel arrangements is expected to make a significant contribution to the overall market growth. Horizontal vessels possess easy loading and unloading operations with a high volume capacity, hence, have a higher preference in the market.By applications, the meat is the largest segment in the market both in terms of value and volume. Whereas, the juice & beverage segment is anticipated to witness the fastest growth in terms of value during the forecast period.
Based on capacity, demand for above 300 litres vessels or containers is expected to gain traction over the next couple of years. Despite their high cost, above 300 litres vessels segment is projected to register a strong CAGR due to their high holding capacity.
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Based on the regional analysis, the market in North America will continue to lead the pack during the forecast period. In 2016, the region accounted for over 40% share of the market followed by Europe. In addition, both the regions collectively accounted for nearly 75% share of the market in terms of value in 2016. Owing to a substantially high demand for HPP equipment from tolling services providers and their growing application base across various end-use industries, the HPP equipment market is flourishing in the region of North America. In Asia Pacific, particularly China is set to witness a robust adoption of HPP equipment in various industrial domains over the next few years.
Competitive Dashboard:
Apart from Hiperbaric S.A, Stansted Fluid Power Ltd, Multivac Group, Bao Tou KeFa High Pressure Technology Co., Ltd, Avure technologies, and Kobe Steel, Ltd., are some of other key players operating in the global market for high pressure processing equipment.
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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