Meticulous Research®—a leading global market research company, published a 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) — Global Forecast to 2029.’
In the latest report by Meticulous Research®, the global market for plant-based protein processing equipment is anticipated to reach $1.68 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 4.2% from 2022 to 2029. This growth is propelled by several factors including the need for enhanced productivity, efforts by plant-protein manufacturers to lower production costs, increased investments in the plant-based protein industry, and the rising utilization of plant protein in various food and beverage applications. Additionally, burgeoning markets such as Asia, Latin America, and Africa, coupled with the expanding plant-based food market, are set to offer lucrative prospects for industry participants.
Nevertheless, challenges such as the high cost of equipment and the prevailing preference for animal-based protein ingredients are likely to impede market expansion to some extent. The global market for plant-based protein processing equipment is segmented by type, mode of operation, production capacity, application, and geography. The study also includes an assessment of industry competitors and an analysis of regional and country-level markets.
In terms of type, equipment categories include dryers, centrifuges, filtration systems, mixing systems, evaporators, boilers, and other specialized equipment. Dryers are projected to dominate the market in 2022 owing to factors like increased production efficiency, enhanced hygiene standards, greater customization options, and the replacement of conventional drying methods. However, filtration systems are expected to witness the highest growth rate due to their advantages over traditional separation techniques and rising demand for superior quality products.
Regarding mode of operation, the market is divided into semi-automatic and automatic segments. While semi-automatic equipment is forecasted to hold the largest market share in 2022, driven by benefits such as improved labor efficiency and production flexibility, the automatic segment is anticipated to register the highest CAGR. This growth is attributed to the escalating demand for automation in the plant-based protein industry to ensure precise production monitoring, cost savings, error reduction, efficient cleaning, and enhanced product safety.
Furthermore, based on production capacity, the market is categorized into small & medium scale and large scale segments. Small & medium scale equipment is expected to lead the market in 2022 due to governmental support, lower financing requirements, and increased productivity. However, this segment is also projected to witness the highest growth rate as there is a growing need for adaptable and innovative solutions in plant-based protein processing.
The market is also segmented by application, covering soy protein, wheat protein, pea protein, and other plant-based protein sources. Soy protein equipment is anticipated to command the largest share in 2022 owing to abundant raw material availability and high demand from food manufacturers. Yet, the pea protein segment is forecasted to experience the highest growth rate due to rising trends favoring soy-free and gluten-free products and escalating investments in pea protein production.
Geographically, North America is expected to dominate the market in 2022, driven by the presence of major plant-protein manufacturers, increased awareness of vegan products, a robust economy, and substantial investments in research and development. However, the Asia-Pacific market is rapidly evolving, buoyed by government support for small and medium-scale enterprises, technological advancements in the food industry, ample raw material availability, and growing investments in the plant-protein sector.
Key players in the global plant-based protein processing equipment market include Alfa Laval AB, Bühler AG, GEA Group Aktiengesellschaft, Flottweg SE, SPX Flow Inc., Coperion GmbH, Hosokawa Micron Corporation, Netzsch-Feinmahltechnik GmbH, SiccaDania, Koch Separation Solutions, Bepex International LLC, and Clextral.
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The report addresses key questions regarding market segments, historical trends, forecasts, major drivers and challenges, competitive landscape, recent developments, strategic initiatives by key players, geographic trends, and emerging local competitors.
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