Beverage Processing Polymers Market : Opportunities, Demand and Forecasts, 2019-2029
Beverage Processing Polymers Market – An Overview
Polymers hold utmost importance in multiple applications, including food and beverage processing, on account of a plethora of benefits offered. One of the key reasons responsible for augmented demand for polymers in beverage processing is their ease of processing. Polymers are being increasingly sought-after and are being used to replace metals in the beverage processing market, as polymers help in performance reinforcement and reduction of downtime costs.
Manufacturers in the beverage processing polymers market are focusing on developing polymers combined with a variety of modifiers, additives, and pigments, with an objective of adhering to end-user specifications. Beverage processing polymers are also being widely embraced across food and beverage applications, owing to their abilities in boosting cost-effectiveness and productivity.
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Beverage Processing Polymers Market – Novel Developments
Key players in the beverage processing polymers market are focusing on product differentiation, with a primary objective of having a competitive edge. Moreover, leading players in the beverage processing polymers market are also channelizing their efforts toward mergers and acquisitions as a crucial part of the company’s growth & expansion strategy.
- In 2018, Victrex plc- a key player in the beverage processing polymers market – presented a dedicated portfolio of ‘PEEK food grade’ polymers at the famous ‘Fakuma Show’ held in Germany. The new polymer portfolio released by the company are is highly productive, cost-effective, and offers superior performance in comparison to metals, with respect to adhering to regulatory as well as quality specifications of the food & beverage industry. Victrex PEEK will be one-of-its-kind in terms of optimizing efficiency and reducing production expenses for operators of the food & beverage industry.
- In 2019, Celanese Corporation- a leading company offering chemical and specialty materials- made an official announcement of the completion of acquisition of Next Polymers Ltd.- a leading Indian engineering thermoplastics (ETP) compounders. This acquisition was aimed at boosting sales of the company’s product portfolio of nylon and other engineered materials and leverage untapped opportunities for growth amid the competitive scenario.
Beverage Processing Polymers Market- Dynamics
Asia Pacific is estimated to emerge as a highly lucrative market for beverage processing polymers, backed by a thriving regional food and beverage industry. Regional demand for both alcoholic and non-alcoholic beverages, including beer, soft drinks, flavored milk, and other types, is foreseen to fuel growth of Asia Pacific beverage processing polymers market.
Some of the key countries of Asia Pacific, including Japan, China, Indonesia, and others, are likely to spearhead demand for beverage processing polymers. Although the Asia Pacific region remains highly diverse with respect to demographics, dietary preferences, and income levels, the Asia Pacific beverage processing polymers market will be nevertheless shaped by number of food processing industries springing up in the region.
Beverage Processing Polymers Market- Operational Drawbacks of Metal-Based Components to Boost Demand
Manufacturing costs continues to be a key area of concern for operators across various end-use industries, including food and beverage processing. Cost of component, though not fully, but will continue to partly influence the paradigm of manufacturing costs in the beverage processing industry. Metal components may incur higher expenses and regular maintenance, which is a predominant reason of why operators of the beverage processing industry seek viable alternatives. Long-term costs can be optimized to a significant level by choosing viable materials over conventional metals, thereby bringing high-performance beverage processing polymers to the fore.
With metal components being prone to corrosion, polymer-based components have prolonged lifecycles and hence, aid in cost reduction and combat loss of component quality. This, in turn, is foreseen to create revenue-generating opportunities for the beverage processing polymers market during the forecast period.
Beverage Processing Polymers Market- Manufacturers Focus on Commercializing Distinguishable Products to Gain Long-Term Profitability
Manufacturers in the beverage processing polymers market are focusing on offering distinguishable products, which will help end-users to comply with quality standards while gaining cost advantages. Manufacturers are focusing on improving the wear resistance of their beverage processing polymers product line, which, in turn, is conducive to component shelf life. Manufacturers are getting their products tested vis-à-vis compliance with FDA regulation, thereby boosting end-user confidence and boost sales.
Manufacturers are entering into definitive agreements with food processing industries, which is helpful for their long-term profitability. Moreover, manufacturers are also ensuring crucial features, such as durability and scratch-resistance, of their products to boost recall value of their offerings.
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Beverage Processing Polymers Market- Segmentation
By polymer type, the beverage processing polymers market is segmented into
- PVPP & PVI
- PVPP & PS
- Caprolactum or Nylon 6
By beverage type, the beverage processing polymers market is segmented into
- Wine & Beer
- Carbonated Drinks
- Bottled Water
- Fruit-based Beverages