According to
a new market research report titled, ‘Plant-based Protein Processing Equipment
Market by Type (Dryers, Centrifuges, Filtration Systems, Mixers, Evaporators),
Mode of Operation (Automatic), Production Capacity (SMEs, Large Scale),
Application (Soy Protein, Pea Protein) - Forecast to 2029,’ the global
plant-based protein processing equipment market is projected to reach $1.68
billion by 2029, at a CAGR of 4.2% from 2022 to 2029.
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The demand
for protein is expected to grow substantially by 2050. A major factor
contributing to this increase is the growing world population. According to the
Department of Economic and Social Affairs of the United Nations, the world
population reached 7.3 billion in 2015 and is projected to increase to 9.7
billion in 2050. Furthermore, according to the FAO/UN forecast, by 2050,
protein consumption is projected to increase by almost 50% (FAO, 2015), for
which protein supplies would be needed to increase to meet the food demand in
2050.
In addition
to the growing population, food needs will rise due to urbanization and
economic development. According to the World Health Organization (WHO), the
urban population in 2020 accounted for around 56.2% of the total global
population, an increase of 54% in 2014, and continues to grow further.
Moreover, the changes in agricultural practice over the past 50 years have
increased productivity, greater diversity of foods, and less seasonal
dependence. These trends mean that market demand for alternative protein
sources will continue to grow. Therefore, the significant demand for processing
equipment to ensure food security contributes to the growth of the global
plant-based protein processing equipment market.
Impact of
COVID-19 on the Plant-based Protein Processing Equipment Market
The outbreak
of COVID-19 has brought serious medical, social, and economic challenges.
Consumers are opting for convenient, healthy, and hygienic food products. This
has increased the preference for plant-based food products. During the
pandemic, the focus of the plant-based protein processing equipment
manufacturers was to offer a wide range of products to ensure hygienic and
shelf-stable ingredients for the plant-based food & beverages.
Like other
markets, the global plant-based protein processing market has also been
impacted due to uncertain circumstances worldwide. In contrast to 2019, a clear
upswing in the plant-based protein processing equipment market was observed
during the COVID-19 pandemic that originated in China. The country is the hub
for the supply of raw materials to companies in the global market. The pandemic
impacted the whole supply chain for manufacturing companies. Moreover,
according to the United Nations Conference on Trade and Development (UNCTAD),
the global FDI is expected to decline by 5–15% due to a fall in manufacturing
companies' operations caused by factory shutdowns. Thus, the outbreak of
COVID-19 slowed down investments in the industries that manufacture protein
processing equipment. This scenario lowered the demand for food processing
equipment, especially in 2020.
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Key Findings
in the Plant-based Protein Processing Equipment Market Study:
The global
plant-based protein processing equipment market is segmented by type, mode of
operation, production capacity, application, and geography. The study also
evaluates industry competitors and analyses the regional and country-level
markets.
Based on
type, the global plant-based protein processing equipment market is segmented
into dryers, centrifuges, filtration systems, mixing systems, evaporators,
boilers, and other equipment. In 2022, the dryers segment is expected to
account for the largest share of the plant-based protein processing equipment
market. The dominant position of this segment is attributed to higher
production throughput, improved process hygiene, increased customization, and
replacement of traditional dryers. However, the filtration systems segment is
projected to register the highest CAGR during the forecast period due to its
benefits over conventional separation methods, the rising awareness about
filtration processes, and the increasing demand for better quality products.
Based on
mode of operation, the global plant-based protein processing equipment market
is segmented into semi-automatic and automatic. In 2022, the semi-automatic
segment is expected to account for the largest share of the global plant-based
protein processing equipment market. The large market share of this segment is
attributed to its benefits, such as greatly improved labor productivity,
flexibility in production processes, and technical & economic feasibility.
However, the automatic segment is projected to register the highest CAGR during
the forecast period due to the increasing demand to meet the needs of the
plant-based protein industry, such as carefully monitored production, reduced
labor costs, automatic tracking of individual loads, no human errors, effective
cleaning, and no cross-contamination.
Based on the
production capacity, the global plant-based protein processing equipment market
is mainly segmented into small & medium scale and large scale. In 2022, the
small & medium scale segment is expected to account for the largest share
of the global plant-based protein processing equipment market. The large market
share of this market is attributed to increased government support for
developing small-scale processing enterprises, low financing needs, and
increased productivity. This segment is also projected to register the highest
CAGR during the forecast period due to the increasing need for flexibility and
innovation in the plant-based protein processing sector.
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Based on
application, the global plant-based protein processing equipment market is
segmented into soy protein, wheat protein, pea protein, and other plant-based
protein. In 2022, the soy protein segment is expected to account for the
largest share of the plant-based protein processing equipment market. The
leading position of this segment is attributed to the huge availability of raw
materials, increased demand for soy protein from plant-based food
manufacturers, and higher consumer acceptance level. However, the pea protein
segment is projected to register the highest CAGR during the forecast period
due to the increasing soy-free and gluten-free trend and the growing investment
in pea protein manufacturing.
Based on
geography, the plant-based protein processing equipment market is segmented
into North America, Europe, Asia-Pacific, Latin America, and the Middle East
& Africa. In 2022, the North America market is expected to account for the
major share of the global plant-based protein processing equipment market. The
leading position of this regional market is primarily attributed to the high
presence of key plant-protein manufacturers, the growing awareness level
regarding vegan products, a well-established economy, and increased investment
in R&D for food processing equipment.
However,
Asia-Pacific plant-based protein processing equipment market is developing and
expanding significantly. Among other regional markets, this region is demonstrating
signs of strong growth in the near future. The rapid growth of this regional
market is attributed to the increasing government support for small and
medium-scale enterprises, the growing technological advancements in the food
industry, the increasing raw material availability, and the growing investment
in the plant-protein sector.
Some of the
key players operating in the global plant-based protein processing equipment
market are Alfa Laval AB (Sweden), Bรผhler AG (Switzerland), GEA Group
Aktiengesellschaft (Germany), Flottweg SE (Germany), SPX Flow Inc. (U.S.),
Coperion GmbH (Germany), Hosokawa Micron B.V. (Netherlands),
Netzsch-Feinmahltechnik GmbH (Germany), SiccaDania (Denmark), Koch Separation
Solutions (U.S.), Bepex International LLC (U.S.), and Clextral (France).
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more insights into the market with a detailed table of content and figures,
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