Redding, California, Nov. 29, 2022 (GLOBE NEWSWIRE) -- According to a new market research report titled, ‘Alternative Protein Processing Equipment Market by Type (Dryers, Centrifuges, Grinders, Evaporators), Mode of Operation, Production Capacity (Small & Medium Scale, Large Scale), Application (Plant Proteins, Insect Proteins) - Global Forecast to 2029,’ the global alternative protein processing equipment market is slated to register a CAGR of 5.2% during the forecast period to reach $2.13 billion by 2029.
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The major factors driving the growth of the global alternative protein processing equipment market are the increasing health consciousness among consumers and the rising demand for plant-based proteins leading to an increased demand for plant protein processing. Consumer habits are shifting away from traditional proteins to more frequent alternative proteins. The growing trend of millennials adopting flexitarian and meat-free diets indicates a shift in purchasing habits from the earlier generations. The most commonly preferred alternative proteins are plant, insect, and microbial-based.
The Impact of COVID-19 on the Alternative Protein Processing Equipment Market
The COVID-19 pandemic affected several industries and economies. Various governments enforced lockdowns, movement restrictions, and reduced workforce, resulting in the shutdown of various manufacturing facilities. Several alternative protein processing companies reduced their infrastructure by temporarily halting their operations, resulting in limited machinery requirements, especially the multifunctional ones, which help companies maximize their production volume and profit margins and eliminate additional costs during alternative protein processing.
The COVID-19 pandemic impacted the supply chains of various industries, including alternative protein processing equipment, leading to increased costs and complex and time-consuming routing of goods. These factors cumulatively restrained the growth of the market. However, factors such as a limited workforce directed many companies to invest in automated alternative protein processing equipment, which is expected to boost the market at a relatively positive rate for companies offering automated alternative protein processing equipment.
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The alternative protein processing equipment market is segmented by type (dryers, centrifuges, filtration systems, mixing systems, evaporators, boilers, grinders, screw press, and other equipment), mode of operation (semi-automatic and automatic), production capacity (small & medium scale and large scale), application (plant proteins, insect proteins, microbial proteins), and geography. The study also evaluates industry competitors and analyzes the market at regional and country levels.
Based on type, in 2022, the dryers segment is expected to account for the largest share of the global alternative protein processing equipment market. However, the filtration systems segment is slated to register the highest CAGR during the forecast period. The rapid growth of this segment is attributed to its benefits over conventional separation methods, rising awareness about filtration processes, and increasing demand for better quality products.
Based on mode of operation, in 2022, the semi-automatic segment is expected to account for the largest share of the global alternative 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 slated to register the highest CAGR during the forecast period. The rapid growth of this segment is attributed to the advantages of automated alternative protein processing equipment, such as higher production volumes, reduced labor costs, and improved precision and accuracy.
Based on production capacity, the small & medium scale segment is slated to register the highest CAGR during the forecast period. The rapid growth of this segment is attributed to rising government support for the development of small-scale processing enterprises, low financial needs, and increased productivity.
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Based on application, in 2022, the plant proteins segment is expected to account for the largest share of the alternative protein processing equipment market. The large share of this segment is attributed to factors such as the growing demand from food & beverage manufacturers, the increase in the vegan population, the rising number of plant-based product launches, and the large presence of plant protein manufacturers. However, the insect protein segment is slated to register the highest CAGR during the forecast period. The rapid growth of this segment is driven by factors such as the growing demand for environment-friendly protein-rich food and rising investments in edible insect farming.
Based on geography, in 2022, North America is expected to account for the largest share of the global alternative protein processing equipment market. The large market share of this region is attributed to the high presence of key alternative-protein manufacturers, growing awareness of vegan products, well-established economies, and increased investment in research & development of food processing equipment. However, Asia-Pacific is slated to register the highest CAGR during the forecast period.
The alternative protein processing equipment market has witnessed several product launches, partnerships, agreements, and collaborations in recent years. The key players operating in the alternative protein processing equipment market are Alfa Laval AB (Sweden), The Bühler Holding 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), ANDRITZ Group (Austria), and Maschinenfabrik Reinartz GmbH & Co. KG (Germany).
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Scope of the Report:
Alternative Protein Processing Equipment Market, by Type
- Dryers
- Centrifuges
- Filtration Systems
- Mixing Systems
- Evaporators
- Boilers
- Grinders
- Screw Press
- Other Equipment
Alternative Protein Processing Equipment Market, by Mode of Operation
- Semi-automatic
- Automatic
Alternative Protein Processing Equipment Market, by Production Capacity
- Small & Medium Scale
- Large Scale
Alternative Protein Processing Equipment Market, by Application
- Plant Proteins
- Insect Proteins
- Microbial Proteins
Alternative Protein Processing Equipment Market, by Geography
- North America
-
- U.S
- Canada
-
- Europe
-
- Germany
- France
- U.K
- Italy
- Spain
- Rest of Europe
-
- Asia-Pacific
-
- China
- Japan
- India
- Rest of Asia-Pacific
-
- Latin America
- Middle East & Africa
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