Food-bev water and wastewater industry on fast growth track
The water and wastewater treatment market in the global food and beverage industry will continue to be fast growing and future-oriented, remaining extremely positive towards innovations and technological upgrades that enhance water management, notes a new Frost & Sullivan report.
The report, ($2.86 billion in 2011 and estimates this to reach $4.65 billion in 2020.), CEO 360 Degree Perspective of the Water and Wastewater Treatment Market in the Global Food and Beverage Industry, finds that the market earned revenues of
As the reduction of energy and water footprints becomes standard in this highly resource-intensive industry, services that limit production costs and tap into economic benefits linked to water conservation and reuse will be preferred.
The food and beverage industry's focus is increasingly on health and wellness as well as on smart and green production. This will result in a re-assessment of safe solutions, while promoting process efficiencies.
"Advanced water treatment solutions for closed loop systems are gaining in importance as they support lower operational costs and mitigate the effect of increasing water prices," said Frost & Sullivan Environmental Research Analyst Paulina Szyplinska.
"Additionally, stringent environmental legislation will drive demand for all services related to high-end water and wastewater treatment."
The trend of water reuse practices is expected to push further developments and improvements in water recycling technologies, especially in the water-stressed regions of North America and Asia-Pacific. Opportunities for design and engineering, as well as operation and maintenance, are likely to expand as industrial customers increasingly turn to water specialists to improve their operational efficiency and meet stricter environmental standards.
"Many food and beverage manufacturers and industry groups, such as dairy and beverages, have already implemented sustainable water management practices," noted Szyplinska. "Such initiatives are set to reduce operational costs, enhance product quality as well as boost the brand perception and green credentials of these companies."
Large global corporations have taken up water conservation as a priority. They have set clear targets and are still on track to improve water use ratios and wastewater discharge levels. To stay competitive, small- and medium-sized companies will also follow the benchmark set by these market leaders.