Understanding COVID-19’s impact on the Vacuum Cooling Equipment Market, Infers FMI

 The market for vacuum cooling equipment is projected to reach US$ 1209.4 Mn in 2033, expanding at a CAGR of 3.2% from 2023 to 2033.

Due to growing consumer demand for higher levels of food safety, sustainability, and quality, the market for vacuum cooling equipment is anticipated to grow. According to FMI, the meat industry’s increased use of vacuum cooling equipment has led to consistent growth over the past five years. Over the forecast period of 2023 and 2033, the trend is probably going to continue.

Further, adoption of completely automated technology and embedded sensor systems is expected to boost the vacuum cooling equipment market. Furthermore, improved machine efficiency, increased speed, and usage of automated processing systems in food service industry are likely to propel the sales in vacuum cooling equipment market.

Subsequently, several governments are aiding vacuum cooling equipment manufacturers to develop vacuum cooling equipment at a large scale by providing subsidies and interest-free loans to support meat processing and related industries.

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Key Takeaways from the Vacuum Cooling Equipment Market Study:

  • Vacuum cooling equipment market is being driven by an increase in demand for packaged and processed food products, as well as an increase in demand for food safety.
  • Based on product type, the screw vacuum pump segment is expected to dominate the market
  • The U.K. is predicted to vanguard the sales in the Europe vacuum cooling equipment market.
  • North America and Europe are likely to be the most dominant regions in the global vacuum cooling equipment market.
  • In terms of application, the bakery products segment is likely to generate maximum revenue in the global vacuum cooling equipment market.

“Vacuum cooling equipment market is likely to gain traction as demand for fast food products is surging among millennials. As packaged food products are in high demand, need for vacuum cooling equipment to protect and preserve from contamination will create new growth avenues for the key players” — says a lead analyst from FMI.

Who is winning?

Market leaders of Vacuum Cooling Equipment in the global market are BVT, Bakery Services BV, Dekker Vacuum Technologies Inc, Dongguan COLD MAX Ltd, Dongguan Huaxian Technology Co Ltd.

North America now holds the largest market share, and this region is expected to continue to expand during the projection period. This can mostly be due to the region’s growing population and rising disposable income levels. Furthermore, the region’s Vacuum Cooling Equipment Market is expected to increase in the next years due to a favourable legal and regulatory environment.

Get Valuable Insights into Vacuum Cooling Equipment Market

FMI, in its new offering, provides an unbiased analysis of the Vacuum Cooling Equipment market presenting historical demand data (2017–2022) and forecast statistics for the period from (2023–2033). The study divulges compelling insights on the demand for vacuum cooling equipment market based on product type (vertical vacuum cooling equipment, horizontal vacuum cooling equipment) by cooling type (air cooled screw vacuum pump, water cooled screw vacuum pump), applications (bakery products, meat products, fruit and vegetables, others).

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