In 2023, Asia-Pacific is expected to account for the largest share of the water and wastewater treatment market for food & beverage industry market.
WD News: According to a new market report, the global water and wastewater treatment market for food & beverage industry is expected to reach $78.35 billion by 2032, growing at a CAGR of 6.9% during the forecast period of 2023-2030.
The growth of this market is attributed to factors such high consumption of water in the food & beverage industry, the high concentration of organic and inorganic substances in F&B wastewater, strict wastewater purification standards in the F&B industry, and the lack of freshwater resources.
However, high installation, maintenance, and operating costs restrain the growth of this market. The growing demand for energy-efficient and advanced water treatment technologies is expected to create market growth opportunities. However, upgrading and repairing aging water infrastructure are major challenges for the players operating in this market.
In 2023, the wastewater treatment segment is expected to account for the largest share of the global water and wastewater treatment market for food & beverage industry.
The large market share of this segment is primarily attributed to growing industrialisation & urbanisation, rising focus on water quality from the industrial sector, depletion of freshwater resources, growing need for water reuse, and growing focus on industrial wastewater treatments.
In 2023, the design, engineering, and construction services segment is expected to account for the largest share of the global water and wastewater treatment market for the food & beverage industry.
However, the process control & automation segment is projected to register the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to the growing need to meet government standards for drinking water & wastewater quality and factors such as cost-effectiveness, efficiency, and lower workforce requirements for monitoring.
In 2023, the ‘meat, poultry, and seafood’ segment is expected to account for the largest share of the global water and wastewater treatment market for food & beverage industry.
However, the dairy segment is projected to register the highest CAGR during the forecast period. The growth of this segment is attributed to the growing dairy production, the rising need to reduce the Dissolved Oxygen (DO) in water, and the increasing demand for energy-efficient technology.
The demand for water and wastewater treatment systems for the food & beverage industry in Asia-Pacific is rising significantly due to the growing need for the advanced treatment of F&B industry water, advances in membrane technology, increased environmental deterioration, declining availability of clean water, and growing research & development expenditures.
Some of the other factors driving this market include increasing regulations on water and wastewater discharge, growing demand for sustainable water management practices, and rising population and food demand.
Source: ResearchAndMarkets
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