Food Processing Seals Market to Reach $3.2 billion by 2023 | Leading Players are Asahi Group Holdings, Kirin Holdings Company, Suntory Holdings, Thai Beverage, Wuliangye Yibin, Anheuser-Busch InBev, Heineken Holding and Carlsberg Group

The report "Food Processing Seals Market by Material Type (Metals, Face Materials, Elastomers), Application (Bakery & Confectionery, Meat, Poultry & Seafood, Dairy Products, Non-Alcoholic Beverage, Alcoholic Beverage), and Region - Global Forecast to 2023", The food processing seals market size is projected to reach USD 3.2 billion by 2023, at a CAGR of 3.3%, from an estimated USD 2.7 billion in 2018.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=139012732

The growing demand for processed and packed food is projected to drive the demand for food processing seals in all regions. In addition, the necessity to save raw materials from deteriorating by processing them is another factor driving the food processing seals market. The rapid-growth of the middle-class population in emerging countries, such as China and India; and changing lifestyle and food consumption pattern fuel the growth of the food processing seals market.

The elastomer material type segment of the market is projected to register the highest CAGR, in terms of value, during the forecast period.
Based on material type, the elastomer material type segment is projected to register the highest CAGR, in terms of value, between 2018 and 2023. This is because of its unique properties, such as chemical compatibility, excellent aging characteristics, temperature range and highest replacement rate when compared to other materials. In addition, the rate of replacement of elastomers is higher when compared to other materials. This drives the growth of elastomers in the food processing seals market.

The alcoholic beverage application segment of the food processing seals market is projected to register the highest CAGR, in terms of value, during the forecast period.
Based on application, the alcoholic beverage application segment is projected to register the highest CAGR, in terms of value, between 2018 and 2023. The growing demand for alcohol in China, India, South Korea, among other countries. and the presence of major alcoholic beverage manufacturers, such as Asahi Group Holdings, Ltd. (Japan), Kirin Holdings Company (Japan), Suntory Holdings (Japan), Thai Beverage (Thailand), Wuliangye Yibin (China), Jiangsu Yanghe Brewery (China) Kweichow Moutai (China), Anheuser-Busch InBev (Belgium), Heineken Holding N.V. (Netherlands), Diageo Plc (UK), Pernod Ricard (France), and Carlsberg Group (Denmark), globally drive the demand for food processing seals in the alcoholic beverage application.

Asia Pacific is projected to register the highest CAGR, in terms of value, in the food processing seals market during the forecast period.
The food processing seals market has been studied for North America, Europe, Asia Pacific, South America, and the Middle East & Africa. The Asia Pacific region is projected to register the highest CAGR, in terms of value, during the forecast period. The growth of the food processing seals market in the region is attributed to the increased production of processed food and bakery & confectionery products.

Speak to Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=139012732

The key players in the food processing seals market include Freudenberg Group (Germany), AESSEAL Plc (UK), Smiths Group Plc (UK), Flowserve Corporation (US), A.W. Chesterton Company (US), SKF (US), Parker Hannifin (US), Trelleborg AB (Sweden), IDEX Corporation (US), EnPro Industries, Inc. (US), James Walker (UK), and Meccanotecnica Umbra S.p.A. (Italy).

Recent Developments:
o In November 2018, Freudenberg launched two elastomers, namely, 75 EPDM 386 and 85 EPDM 387. These elastomers can be used as a material for O-rings and machined formed parts in the food industry equipment.
o In July, 2018, Garlock, a subsidiary of EnPro Industries, launched a new product called PUR-GARD. It is a dynamic seal, which is used in the food processing equipment.
o In April 2017, Parker Hannifin launched NBR and FKM sealing materials, namely, NBR N9400 and FKM V9196, which can be used in the food processing equipment.
o In January 2016, EagleBurgmann, a part of Freudenberg, launched a shaft seal called SeccoMix1 for agitators, which can be used in mixers, agitators, dryers, and suction filters used for food processing.

Key questions addressed by the report :
o What are the major developments impacting the market?
o Where will all these developments take the industry in the mid- to long-term?
o What are the upcoming types of food processing seals?
o What are the emerging applications for food processing seals?
o What are the major factors impacting market growth during the forecast period?

Get 10% Customization on this Report @ https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=139012732

Contact:
Mr. Aashish Mehra
MarketsandMarkets(TM) INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

About MarketsandMarkets(TM)

MarketsandMarkets(TM) provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets(TM) for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets(TM) are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets(TM) now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets(TM) is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

This release was published on openPR.