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; states Stratview Research.
/EIN News/ — Raipur, May 13, 2022 (GLOBE NEWSWIRE) — Stratview Research, a global market research firm announces the launch of a new report on ‘Food & Beverages Bearings Market’ that studies the market size, value, and growth drivers, and more details over the trend period of 2021-2026.
Market Insights and Drivers
According to the report, the food & beverage bearings are expected to witness a healthy CAGR of 4.2% during the forecast period of 2021-2026.
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,
- The surge in the demand from the existing fleet of equipment, and
- Growing need for reliable and cost-effective bearings from the equipment suppliers.
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Impact of COVID-19 on the Market
The Food & Beverage Bearings report compiled by Stratview Research offers a comprehensive study of market opportunities and impacts that are stirred due to the COVID-19 pandemic. The research report focuses on the direct and indirect impact of COVID-19 with new product launches, M&As, supply chain overview, government regulations, strategies adopted by the related market players, etc.
Know more about the report’s ToCs.
Key Players involved in this research are:
- ABB Group
- AST Bearings
- LYC Bearings
Why Stratview Research?
The reports compiled by Stratview Research are a result of thorough primary and secondary research done by market experts and analysts.
- Assessment of the market
- Competitive Landscape
- COVID Impact Analysis
- Value Chain Analysis
- Historic Data, Estimates, and Forecast
- Company Profiles
- Global and Regional Dynamics
- Future Business Scope & Opportunities Forecast
- Segment Analysis
Market Segmentation –
Market Share by Equipment Type
The food & beverage bearings market is segmented by 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.
Market Share by Material Type
Based on the material type, the market is segmented into 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.
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.
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.
Frequently Answered Questions in the Report
- What are the key trends in the Food & Beverage Bearings Market?
- How the market has grown in the last five years and what growth trajectory will it follow in the next five years?
- On what scale has COVID-19 impacted the Market?
- What are some key strategies adopted by the market leaders in the Market?
- How many shares of the Food & Beverage Bearings Market do the top players own?
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About us –
Stratview Research is a global market research firm that offers reliable market reports, market entry strategies, strategic growth consulting, and more. The market experts compile high-quality market information to help users obtain granular level clarity on current business trends and expected future developments. Stratview Research also offers customisation of the reports. Reach out to the analysts to customize the given report according to your priority/requirement.
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originally published at Science - Reality Syndicate Viewers