High pressure processing is also known as pascalization, which is a common method of preserving and sterilizing food products. In this process, very high pressure is applied on the food products in order to suppress or inactivate certain food enzymes and microorganisms. HPP technology is popularly used across the global food and beverage industry packaging foods with high liquid content. HPP market has great commercial significance, which is expected to drive the industry at a strong compound annual growth rate. Increased food and beverage processing, rising demand for packaged foods and technological advancements in high pressure processing technology are some of the major industry drivers.
Segmentation in HPP Technology Industry
Global HPP market is categorized based on several vital components, which include the types of technology, food applications, end users and demand across different geographic regions. This technology is commonly used in the packaging of fruits, vegetables, meat, seafood, juices and beverages and other products like dairy products, ready to eat meals, etc. Both vertical and horizontal packaging techniques of HPP are categorized based on the size of the vessels. Small and medium businesses or SMBs, large production plants and organizations and conglomerates and MNCs use high pressure packaging technology for better packaging. Based on geography, the industry is divided into five major segments, namely, Europe, North America, Asia, Pacific and rest of the world.
Drivers and Trends in HPP Market
Fast paced lifestyle of modern-day is the strongest driver behind increasing demand and revenue in the global food and beverages sector. Demand for packaged foods and beverages, is continuously rising, which is serving as the major driver for global HPP market. More and more manufacturers are interested food and beverage market and are resorting with high pressure packaging technology for increasing the shelf life of these products and production capacities of their respective companies. The result of this cycle is clearly visible in the market trends, opportunities and revenue channels in HPP technology market. According to the market research reports, the industry is poised to make strong growth from 2013 to 2018.
During the aforementioned forecasting period, HPP market is estimated to grow at a CAGR of 24%. The global market for these technologies is largely dominated by fruit and vegetable applications. Manufacturers and processors of these products use high pressure processing technologies to preserve natural taste, texture and freshness of these products, which is driving the industry at high speed. In 2012, the global industry for HPP was dominated by North America, which is expected to continue its growth during the forecasting period. Europe on the other hand is rapidly catching up with North America, which is creating better business opportunities in the market.