Pasteurization Vessel Market Forecast and CAGR
According to the latest research estimates, the pasteurization vessel market is expected to grow with 6-7% CAGR in the forecast period 2021-2031. The food-processing industry has made large investments in processing facilities relying on conventional thermal processing technologies with well-established reliability and efficacy which in turn will drive the market in the near future.
What is Driving the Market for Pasteurization Vessel?
Various health benefits and bypassing the numerous harmful microorganisms present in unpasteurized milk market for pasteurization vessels keeps the cash flowing round the year. Many new and emerging thermal processing technologies with well-established reliability and efficacy in the vessel market has lead the market in the historical period and this trend is likely to be carried forward.
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With the increasing consumption of milk and its allied products, the production rate of edible items have been increased proportionately year over year.
According to Food and Agricultural Organizations of United Nations, in the last three decades, world milk production has increased by more than 59 percent, from 530 million tons in 1988 to 843 million tons in 2018. This very fact has made it mandatory for food processing industries to procure pasteurization vessels in order to fulfil the demand.
India is the world’s leading milk producer, with 22 percent of global production, followed by the United States of America, China, Pakistan and Brazil, according to Milk production states from Food and Agricultural Organizations of United Nations. The markets for vessels in these countries have shown sales figures of flying colors in the historical period 2016-2020.
What is Driving the Market Demand of Pasteurization Vessels?
The consumption of soft drinks, such as colas and flavored sodas, is reducing globally as they have high sugar content, artificial coloring, phosphoric acid, artificial sweeteners, and caffeine which can cause negative effects on the human body.
Owing to this, a large number of consumers are shifting from carbonated drinks towards natural fruit juices, requiring vessels for increasing the shelf life as well for making the juices safe to consume. Moreover, from the bakery sector and altering food preferences, as a substitute for sugar also boosts the growth of the market.
Increase in per capita consumption of milk, its by-products, and fruit juices owing to the population growth and GDP growth in developing countries cash flow is surging up in the market.
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India Market Growth Outlook
India being the prominent producer and consumer of milk in the world accounts for the largest value share of the pasteurization vessel market. There are numerous small to medium enterprises along few large players responsible for the market to boom in India.
The land is open for foreign direct investments, thanks to government policies which help new investors to enter into the country freely, manufacture and sell their produce. 22% of global milk is produced in the province which gets consumed directly and also into its by-products like cheese, paneer, various sweets, etc. All these conversions require these vessels as a crucial step in the by-product developments.
Moreover, India accounts for the emerging fruit juice market which again requires these vessels for the purpose of increasing shelf life of the fruit juices. The market for fruit juice has increased year-over-year from 2016 to 2020.
North America Pasteurization Vessel Demand Scenario
North America is the world’s largest fruit juice market with a share of nearly one-fourth of the total global consumption in the historical period 2016-2020. The region known to implement new industrial automation techniques at a faster pace with large amounts of investments. This very fact makes North America one of the largest markets for these vessels.
The market strives in the region due to other thermal and non-thermal pasteurisation procedures have been developed which reduce the impacts of pasteurisation on nutritional and sensory properties of foods, as well as to prevent the breakdown of heat-labile components.
Non-thermal pasteurisation procedures such as Pascalization or high pressure processing (HPP) and pulsed electric field (PEF) are now used commercially, causing demerits to the market.
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Who are the Key Manufacturers and Suppliers of Pasteurization Vessels?
Some of the leading manufacturers and suppliers include
- Tetra Laval
- IZUMI FOOD MACHINERY
- ServoLift LLC
- Neologic Engineers Private Limited
- IVE Fluid Systems
- Risto GbR
- KHS Group
- Holmach Ltd
- Silotank
- Wenzhou Ace Machinery Co. Ltd.
- IMTECH VENTILEX etc.
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