Rising Demand for Alcoholic Beverages to Drive the Growth of the Beverage Processing Equipment Market

The beverage processing equipment market is projected to grow from USD 20.4 billion in 2021 to USD 26.4 billion by 2026, recording a compound annual growth rate (CAGR) of 5.3% during the forecast period. The demand for beverage processing equipment is increasing significantly, due to the increasing consumption of beverage products in developing countries such as China, India, South Africa, and Brazil.
Increasing urbanization and rise in incomes have resulted in an exponential rise in demand for alcoholic beverages in India. According to WHO, with nearly 30% of men between the 15-65 age group addicted to drinking, alcohol consumption in India has increased from 4.3 liters per person in 2010 to 5.7 liters per person in 2016. An active domestic and international trade further promotes the consumption of alcoholic beverages. With growing product premiumization, consumption by middle- and low-income consumers has gone up phenomenally and hence, there is anticipated growth in production. 

There is an increase in alcohol consumption in China and India, which could potentially be linked to active marketing by the alcohol industry and increased income in these countries. This trend has a positive effect on the beverage processing equipment market as well. Young drinkers are developing a taste for flavored whiskey, beer, and vodka, due to which the beverage processing equipment market is also growing proportionally to meet the rising demand. 
Post-COVID-19, consumers have gained better awareness regarding the quality of the products they consume and are willing to pay extra for high-quality alcoholic beverages, creating an opportunity for liquor companies to offer premium price points. Diageo India launched and re-launched a plethora of options in its range of international as well as Indian liquor, also entering the crafts spirit’s segment. A moderation trend is round the corner, wherein there is a conscious shift toward no/low alcohol globally, predominantly no/low beer and cider.
The beverage processing equipment market is diversified and competitive, with a large number of players. The key players in this market include Tetra Laval (Switzerland), GEA Group (Germany), Alfa Laval (Sweden), Krones Group (Germany), Bucher Industries (Switzerland), SPX FLOW (US), JBT Corporation (US), KHS GmbH (Germany), Pentair (US), and Praj Industries (India). The key market players have adopted strategies such as expansions & investments, acquisitions, new product & technology launches, agreements, collaborations, joint ventures, and partnerships to meet the growing demand for beverage processing equipment.

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