The global hygienic pumps and valves market size is expected to grow from USD 2.2 billion in 2021 to USD 2.8 billion by 2026, at a CAGR of 4.5%.
The market in APAC is expected to grow at the highest CAGR from 2021 to 2026. The factors contributing to its robust growth include the increasing urbanization and growing dairy and pharmaceuticals industries, coupled with the rapid industrialization, in major countries such as China, India, Japan, etc. China is one of the biggest exporters of hygienic pumps and valves components. There is a high demand for hygienic pumps and valves in China due to rapid industrial growth and increasing population. The increasing demand for advanced hygienic equipment in industries such as dairy, pharmaceuticals, and processed foods in India is also fueling the adoption of hygienic pumps and valves.
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OPPORTUNITIES: Increasing focus on R&D for hygienic pumps and valves is expected to generate more demand from end users
R&D and innovation play a very critical role in the growth of any business. These activities help businesses stand out and gain a competitive advantage in the market. With the increasing competition, businesses are increasing their focus on product R&D and making considerably high investments for it. Such initiatives help them boost the development of new and improved products and technologies that could bring an evolution in the market. According to the National Science Foundation's Survey of Industrial Research and Development, manufacturing firms can be seen spending a higher proportion of their total R&D investments to improve existing products by developing new technologies. Similarly, The manufacturers of hygienic valves and pumps are increasing their focus and investment toward R&D for new and advanced features in pumps and valves. For instance, most of the leading companies, such as Alfa Laval (Sweden), SPX Flow Inc. (US), and Xylem (US), are increasing their focus on R&D activities for the development of new and innovative technologies in the market. Verder Group is investing in R&D for new and advanced Internet-connected hygienic pumps.
CHALLENGES : Increased competition from gray market players and unorganized sector
The hygienic pumps and valves market is highly fragmented. The number of players in this market is very high. These players provide their offerings across the world with a strong, widespread network of suppliers and distributors. The manufacturers and distributors operating at the international level have to deal with transportation costs, pricing discrimination, tariffs, sales tax, and other additional prices such as customs duty and shipping charges on their commodities and services. Along with these industrial manufacturers and distributors, the ecosystem of this industry also consists of a large number of local and gray market players. The gray market players are known for buying the products from low-price countries or regions and selling them to high-price countries or regions as well as through distribution channels not authorized by the original manufacturer or trademark proprietor. This allows the gray market players to sell the same products at comparatively lower prices.
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