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 multi-dimensional beverage industry is growing on a global scale, and therefore, there is a visible increase in the demand for beverages, be it alcoholic, non-alcoholic, or dairy beverages. Though the beverage sector witnessed a revolutionary change in terms of shifting toward a healthier profile, the demand for equipment follows an increasing trend. An increasing processing industry, especially in the developing regions, growing craft breweries, and the development of new technologies in the beverage processing industry are prominent factors driving the beverage processing equipment industry.
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The Asia Pacific region is projected to grow at the highest CAGR during the forecast period.
The Asia Pacific region is projected to grow at the highest CAGR in the beverage processing equipment market during the forecast period. With an increased focus on health and wellness, there is a growing emphasis on beverages with lower fat and sugar, which has also increased the demand for functional beverages.
China is globally the largest tea producing country, accounting for 43.2 percent of the world total with an output of 2.6 million tonnes in 2018. China retained its position as the top producers for tea in the world, besides being the largest consumer of tea as well with almost 40 percent of world consumption. In 2018, China was the second-largest exporter of tea, reaching 360.7 thousand tonnes. In the tea segment, ready-to-drink tea is gaining popularity owing to the fast-paced lifestyle in urban cities; jasmine and green tea being the most common.
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The prominent 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), and Pentair (US).
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