Meticulous Research® has released a new report revealing that the global plant-based protein processing equipment market is projected to hit $1.68 billion by 2029, with a compound annual growth rate (CAGR) of 4.2% from 2022 to 2029. This growth is driven by rising productivity needs, efforts to cut production costs, increased investment in the plant-based protein sector, and the expanding use of plant proteins in food and beverage products. Additionally, emerging markets in Asia, Latin America, and Africa, along with the growing plant-based food market, are expected to offer significant opportunities for industry players.
Despite this positive outlook, challenges such as high equipment costs and the ongoing preference for animal-based proteins may impact market growth.
Market Segmentation Highlights:
• Type: The market is segmented into dryers, centrifuges, filtration systems, mixing systems, evaporators, boilers, and other equipment. In 2022, dryers are anticipated to dominate due to their enhanced production throughput and hygiene. However, filtration systems are expected to grow at the fastest rate due to their efficiency and rising demand for high-quality products.
• Mode of Operation: The market is divided into semi-automatic and automatic systems. Semi-automatic systems are expected to hold the largest market share due to their improved labor productivity and flexibility. Meanwhile, automatic systems are projected to experience the highest growth due to their advanced features and cost-efficiency.
• Production Capacity: Segmented into small & medium scale and large scale, the small & medium scale segment is forecasted to lead in market share, supported by government initiatives and low financing needs. This segment is also expected to see the highest growth due to its adaptability and innovation potential.
• Application: The market includes soy protein, wheat protein, pea protein, and other plant-based proteins. Soy protein is anticipated to have the largest share due to its abundant raw materials and high consumer acceptance. Conversely, pea protein is expected to grow the fastest due to trends favoring soy-free and gluten-free products.
• Geography: North America is predicted to hold the largest market share in 2022, driven by a strong presence of key manufacturers, high awareness of vegan products, and robust investment in R&D. However, the Asia-Pacific region is emerging rapidly, with significant growth driven by government support, technological advancements, and increasing investment in the plant-protein sector.
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