Plant-based Protein Processing Equipment Market Worth $1.68 Billion by 2029
Added: (Wed Nov 01 2023)
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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.’
According to this latest publication from Meticulous Research®, 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. This market is driven by the growing need to increase productivity, the increasing focus of plant-protein manufacturers to reduce production costs, increased investment in the plant-based protein industry, and the increasing use of plant protein as an ingredient in various food & beverage products. Moreover, growing markets such as Asia, Latin America, and Africa and the increasing plant-based food market are expected to create lucrative opportunities for players operating in this market.
However, the high equipment cost and the preference for animal-based protein ingredients are expected to hinder the growth of this market to some extent.
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 expected 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.
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.
The key players operating in the global plant-based protein processing equipment market are Alfa Laval AB (Sweden), Bühler 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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Key questions answered in the report-
• What are the high-growth market segments in terms of type, mode of operation, production capacity, application, and countries?
• What is the historical market for plant-based protein processing equipment across the globe?
• What are the market forecasts and estimates for the period of 2022–2029?
• What are the major drivers, restraints, opportunities, challenges, and trends in the global plant-based protein processing equipment market?
• Who are the major players in the global plant-based protein processing equipment market, and what share of the market do they hold?
• Who are the major players in various countries, and what market share do they hold?
• What is the competitive landscape?
• What are the recent developments in the global plant-based protein processing equipment market?
• What are the different strategies adopted by the major players in the market?
• What are the key geographic trends, and which are the high-growth countries?
• Who are the local emerging players in the global plant-based protein processing equipment market, and how do they compete with the other players?
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