Awareness among people
The rapidly growing population has resulted in higher demand of food and related resources. The eatables packaged under specific pressure and temperature are free from the harmful additives which can affect the health of consumer. On account of such factors, it has been found that higher acceptance of HPP packed products as compared to pasteurized foods products due to artificial additives contained in them.
Government Initiatives
Various schemes are constantly introduced by governments of different regions to promote pressure controlled food packaging methods. This is primarily done in order to restrict the usage of chemical preservatives to control microbial contamination.
Restraints
The high cost of initial set-up acts as a prime drawback of vertical HPP. Food processing through vertical HPP requires high investment in comparison to conventionally used methods such as heat sterilization. Also, the superior features of horizontal high pressure processing equipment which can offer a higher throughput while handling higher volumes in comparison to vertical HPP is expected to result in limit the adoption rate of vertical HPP.
The vertical high pressure processing market is anticipated to record a CAGR of around 17.6% over the forecast period i.e. 2019-2027. The market is segmented on the basis of product type into continuous processing & semi continuous processing; by production into Meat products, Vegetables products & Beverage; by end user into commercial & industrial. A vast number of multi-national companies are adopting new and improved technologies to raise HPP packaging for different materials. Additionally, government of different countries are initiating policies that support the demand of HPP Packaging. This has resulted in an increasing demand for vertical high pressure processing equipment for efficient processing of food products.
Get more information on this report: Download Sample PDF
Our-in depth analysis of the vertical high pressure processing market includes the following segments:
By Processing
By Production
By End Use
By Region
On the basis of regional analysis, the vertical high pressure processing equipment market is segmented into five major regions, North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
North America is anticipated to dominate the market on the basis of increasing preference for packed food that can saves the time of cooking the food. The changing consumer behavior towards purchasing food products with longer life span is resulting in an increased demand for efficient pressure processing equipment. Europe is expected to follow North America due to rising demand for processed food from countries such as U.K., Germany, France & Italy among others.
Asia Pacific is anticipated grow with the highest demand capturing a CAGR of 13.5% in high pressure processing market during the forecast period due to rise in population in countries such as India & China. The rising disposable income in developing countries is resulting in increasing demand for food products with longer durability. Latin America and Middle East & Africa are estimated to showcase a modest growth in high pressure processing market on the back of rise in awareness about the benefits of vertical high pressure processing over pasteurized foods.
The vertical high pressure processing equipment market is further classified on the basis of region as follows:
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Submit Your Request For Proposal (RFP)