Dublin, Jan. 03, 2023 (GLOBE NEWSWIRE) -- The "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" report has been added to ResearchAndMarkets.com's offering.
The report provides an in-depth analysis of the plant-based protein processing equipment market in five major geographies and emphasizes on the current market trends, size, share, and recent developments and forecast till 2029.
The Global Plant-based Protein Processing Equipment Market is projected to reach $1.68 billion by 2029, at a CAGR of 4.2% during the forecast period.
The growth of this market is attributed to 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 increased usage 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 study offers a comprehensive analysis of the global plant-based protein processing equipment market segmented by type (dryers, centrifuges, filtration systems, mixing systems, evaporators, boilers, and other equipment), mode of operation (semi-automatic and automatic), production capacity (small & medium scale and large scale), application (soy protein, wheat protein, pea protein, and other plant-based protein), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). 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. 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.
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 estimated 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 protein. In 2022, the soy protein segment is expected to account for the largest share of the plant-based protein processing equipment market. 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.
Market Dynamics
Drivers
- The Need to Increase Productivity
- Increasing Focus of Plant-based Protein Manufacturers on Reducing Production Cost
- Growing Investment and Expansions in the Plant-based Protein Industry
- Increased Usage of Plant-based Protein as an Ingredient in Various Food & Beverage Products
Restraints
- High Cost of Equipment Due to High Production Cost
- Preference for Animal-Based Protein Ingredients
Opportunities
- Growing Demand for Vegan Protein from Emerging Markets in Asia, Latin America, and the Middle East & Africa
- Rapidly Expanding Plant-based Food Market
Challenges
- Lack of Trained Workforce
- Increasing Consumer Inclination toward the Consumption of Minimally Processed Foods
Trend
- Growing Focus on the Safety of Workers
Key questions answered in the report-
- What are the high-growth market segments in terms of type, mode of operation, production capacity, application, and country?
- 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, challenges, trends, and opportunities in the global plant-based protein processing equipment market?
- Who are the major players in the plant-based protein processing equipment market, and what share of the market do they hold?
- How 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?
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Insights
5. The Impact of COVID-19 On the Plant-based Protein Processing Equipment Market
6. Global Plant-based Protein Processing Equipment Market, by Type
7. Global Plant-based Protein Processing Equipment Market, by Mode of Operation
8. Global Plant-based Protein Processing Equipment Market, by Production Capacity
9. Global Plant-based Protein Processing Equipment Market, by Application
10. Plant-Based Protein Processing Equipment Market, by Geography
11. Competitive Landscape
12. Company Profiles (Business Overview, Financial Overview, Product Portfolio, Strategic Developments)
13. Appendix
Companies Mentioned
- Alfa Laval AB (Sweden)
- Buhler 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.)
- Clextral (France).
For more information about this report visit https://www.researchandmarkets.com/r/5vnksq
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