• Blog
  • Food And Beverages Bearings Market Report

    Food And Beverages Bearings Market Report

    Food And Beverages Bearings Market Report
    Report code - SRCG340 Published On : Jul,2021 No. of Pages: 200
    Get Free Sample |
    Play Audio
    Listen
    Food & Beverage Bearings Market Size, Share, Trend, Forecast, Competitive Analysis, an See more...

    Impact of COVID-19 on Food And Beverages Bearings Market

    Covid-19 has impacted the market dynamics, competition, and global...

    See more...

    Impact of COVID-19 on Food And Beverages Bearings Market

    Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Market Highlights

    The Food & Beverage industry has witnessed remarkable growth in the last decade on account of changing consumer shopping habits, fast-paced lifestyles, increasing participation of women in the workplace, and economic growth across the developing economies. The mirror effect of this phenomenon can be noticed in the sales growth of equipment used in the food & beverage industry. As the food & beverage industry is getting fiercely competitive, few challenges are significantly impacting the overall market outlook such as stringent regulatory standards, increase in outputs, reduction in cost, and sustainability.

    Equipment suppliers in the food & beverage industry are highly focused on meeting the current industry challenges in cooperation with parts/component suppliers. Bearing is one of the key components which plays a vital role in the proper functioning of packaging and processing equipment used in the F&B industry. All the key players in the F&B bearings market are delivering solutions that can meet the regulatory standards and assist the industry in reducing the overall cost of operation along with improved outputs.

    The global food & beverage bearings market was estimated at US$ 2.5 billion in 2020 and is expected to witness a healthy CAGR of 4.2% during the forecast period. Major factors driving the food & beverage bearings market are rapidly shifting consumer eating habits, increasing disposable income of consumers in both, the developed as well as developing economies, surge in the demand from the existing fleet of equipment, and growing need for reliable and cost-effective bearings from the equipment suppliers.

    Segments' Analysis

    Food & Beverage Bearings Market Share by Equipment Type

    The food & beverage bearings market is segmented as Equipment Type, Bearings Type, Material Type, Application Type, End-User Type, and Region. Based on the bearing type, Ball bearing is expected to remain the larger and faster-growing market segment during the forecast period. Ball bearings are used across the equipment used in the packaging and processing of food & beverages. Ball bearings are further segmented into Deep Groove Ball Bearing, Angular Contact Ball Bearing, and Others.

    Food & Beverage Bearings Market Share by Material Type

    Based on the material type, the market is segmented as metallic bearings, non-metallic bearings, and hybrid bearings. Non-metallic bearings hold the dominating position in the market. Non-metallic bearings are extremely corrosion and chemical resistant. Further, non-metallic bearings do not transfer heat to other mechanical equipment and are self-lubricating; thus, eliminate the possibility of failures from lack of maintenance.

    Food & Beverage Bearings Market Share by Application Type

    Based on the application type, the food & beverage bearing market is segmented as Bakery & Confectionery; Meat, Poultry & Seafood; Dairy Products; Beverages; and Others. Among these, beverages hold the largest share of the pie. Bearings are used to reduce energy losses resulting from friction in moving machine parts and to enhance the efficiency and speed of the machines. A wide variety of bearings are available in the market for the beverage industry. Non-metallic bearings are the most common, as they offer high performance with extended operating life.

    Regional Analysis

    Europe is expected to remain the largest market for food & beverage bearings during the forecast period in terms of regions.  The food & beverage bearing market in Europe is also expected to grow at a significant rate during the forecast period. Germany, France, and Italy are the major demand generators in the region. North America holds the second leading position driven by the USA. Asia-Pacific is expected to witness the highest growth in the global food & beverage bearings market owing to significant economic developments in the key economies such as China, India, South Korea, and ASEAN countries.

    Key Players

    In the presence of established international and regional vendors, the global food & beverage bearing market is highly diversified and competitive. Developing products aligning with stringent regulatory standards, development of cost-competitive products, and wide geographical presence are some of the key factors which industry players are targeting to get the competitive edge in the market.

    The following are some of the key players active in the food & beverage bearings market:

    • ABB Group
    • AST Bearings
    • LYC Bearings
    • NSK
    • NTN
    • Rubix
    • Schaeffler
    • SKF
    • Timken
    • TMB

    Research Methodology

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s Food & Beverage Bearings market realities and future market possibilities for the forecast period of 2021 to 2026. After a continuous interest in our automotive bearings market report from the industry stakeholders, we have tried to further accentuate our research scope to the food & beverage bearings market in order to provide the most crystal-clear picture of the market. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis.
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Market trend and forecast analysis.
    • Market segment trend and forecast.
    • Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.

    The food & beverage bearings market is segmented into the following categories. 

    Food & Beverage Bearings Market Size, Share & Forecast, by Equipment Type

    • Processing (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Packaging (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Food & Beverage Bearings Market Size, Share & Forecast, by Bearing Type

    • Ball Bearings
      • Regional Analysis: North America, Europe, Asia-Pacific, and RoW
      • Bearing Type Analysis: Deep Groove Ball Bearings, Angular Contact Ball Bearings, and Others
    • Roller Bearing
      • Regional Analysis: North America, Europe, Asia-Pacific, and RoW
      • Bearing Type Analysis: Cylindrical Roller Bearings, Tapered Roller Bearings, and Spherical Roller Bearings

    Food & Beverage Bearings Market Size, Share & Forecast, by Material Type

    • Metallic Bearings (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Non-Metallic Bearings (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Hybrid Bearings (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Food & Beverage Bearings Market Size, Share & Forecast, by Application Type

    • Bakery & Confectionery (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Meat, Poultry & Seafood (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Dairy Products (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Beverages (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Food & Beverage Bearings Market Size, Share & Forecast, by End-User Type

    • OE (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Aftermarket (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Food & Beverage Bearings Market Size, Share & Forecast, by Region

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, the UK, Italy, and Rest of Europe)
    • Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
    • Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected]

    Frequently Asked Questions (FAQs)

    The food & beverage bearings market is estimated to grow at a healthy CAGR of 4.2% by 2026.

    ABB Group, AST Bearings, LYC Bearings, NSK, NTN, Rubix, Schaeffler, SKF, Timken, and TMB are the leading players in the food & beverage bearings market.

    Europe is estimated to remain dominant in the food & beverage bearings market in the foreseen future.

    Asia-pacific is expected to witness highest growth in the food & beverage bearings market in the coming years.

    Ball bearing is expected to remain the larger segment in the food & beverage bearings market during the next five years.

    Rapidly shifting consumer eating habits, increasing disposable income of consumers in both, the developed as well as developing economies, surge in the demand from the existing fleet of equipment, and growing need for reliable and cost-effective bearings from the equipment suppliers are the factors driving the growth of food & beverage bearings market.

    •