Market Size and Overview:
The estimated valuation of the Global PEF Technology Market in 2023 was USD 172.23 Million, with a projected growth to USD 887.86 Million by 2030. The market is anticipated to experience a rapid Compound Annual Growth Rate (CAGR) of 26.4% throughout the forecast period spanning from 2024 to 2030.
Overview of the Market:
Pulsed Electric Field (PEF) Technology serves as a non-thermal food preservation method employing brief and precisely timed electrical pulses to inhibit microbial activation, thereby minimizing adverse effects on food quality attributes. Distinguished by its superiority over traditional thermal processing methods, PEF technology significantly reduces the risk of food contamination and alterations in sensory and physical properties, ensuring the provision of high-quality foods to consumers. Key considerations in this technological domain encompass the generation of high electric field intensities, chamber designs, and electrode configurations, crucial for mitigating the impact of electrolysis. The attainment of substantial electric field intensities involves storing substantial energy in capacitors through a DC power supply, subsequently releasing it in the form of high-voltage pulses.
The escalating demand for pulsed electric field technology is attributed to evolving consumer food preferences and lifestyle shifts. Notably, the desire for processed foods featuring natural flavors, colors, extended shelf life for widespread distribution, and reasonable storage duration has fueled this demand.
COVID-19 Impact on the Pulsed Electric Field Technology Market:
COVID-19 Impact on the Pulsed Electric Field Technology Market: The global COVID-19 pandemic has exerted profound effects on economies and industries worldwide, leading to lockdowns, business closures, and disruptions in supply chains. Despite these challenges, the Pulsed Electric Field (PEF) Technology market demonstrated resilience, experiencing relatively less impact compared to other sectors. This resilience can be attributed to the rapid expansion of the food and beverages industry, driven by a consumer shift towards convenient, ready-to-eat meals available in grocery stores.
The surge in online e-commerce platforms during the pandemic further bolstered the market, streamlining the buying and selling of goods. Large-scale enterprises have redirected their focus towards PEF technology to enhance the shelf life of food products, without compromising quality and standards. This strategic shift has contributed to the growth of the market size.
Market Drivers:
The market is experiencing growth due to an increasing demand for food products with an extended shelf life:
Shifts in lifestyle and consumer behavior, driven by increased work hours, have led to a significant preference for ready-to-consume products. The prevalent hoarding culture among consumers has further intensified the demand for such products, prompting businesses to seek methods to prolong the shelf life for enhanced profitability.
Urbanization and rising disposable income within the middle-class population are contributing to market growth:
The market is benefitting from the simultaneous trends of rapid population growth, continuous urbanization, improved living standards, and an increase in disposable income among the middle-class demographic. This has elevated household spending, driving demand for products aligned with evolving market dynamics. Consequently, the pulsed electric field technology market has witnessed a surge in demand, responding to changing consumer patterns and preferences, coupled with increased disposable income.
The growing popularity of online sales channels is fostering market growth:
Businesses are strategically leveraging online opportunities to enhance sales efficiency and adapt to market dynamics. Manufacturers of various goods and services have embraced various e-commerce platforms, including major players like Amazon. Emerging economies have seen significant growth attributed to the rising demand for cost-effective products. This shift in business strategies presents new opportunities for key players, expanding the market scope, and contributing significantly to the growth of the pulsed electric field technology market, given its wide-ranging applications across industries.
Continuous innovation and technological advancements are driving market growth:
Market growth is propelled by increasing demand from both consumers and merchants, fostering continuous technological evolution in products and services. Ongoing developments in food processing technology are expected to strengthen the market. Factors such as growing research and development investments and the entry of new players contribute to the growth of the pulsed electric field technology market.
Government Initiatives and food schemes are fostering industry growth:
Various governments and food authorities globally are initiating programs to support and enhance the standards of the pulsed electric field technology industry, aiming to make food processing more efficient. Notable examples include the New Zealand government's industry pilot program, funded by the Food Industry Enabling Technology (FIET), and the European Federation of Food Science and Technology's involvement in the FieldFOOD project. These initiatives align with mass interests and create lucrative opportunities for the pulsed electric field technology market.
Market Restraints:
High installation and production costs pose a significant obstacle to market growth:
Despite the increasing popularity of off-the-shelf food products, their growth in the industry is impeded by several challenges. The elevated costs associated with device installation and production are key barriers to the widespread adoption of pulsed electric field technology.
Pulsed Electric Field Technology Market – By Application:
The pulsed electric field technology market is categorized into two segments based on application – Liquid and Solid food products.
The Liquid Food segment currently dominates the market, representing a significant majority of the revenue share in the pulsed electric field technology market. For proper treatment, the maximum particle size of the liquid molecule must be smaller than the gap in the treatment region of the chamber. This continuous processing method is particularly suitable for pumpable liquid food products and finds extensive use in the pasteurization of items like juices, yogurt, soups, milk, and liquid eggs.
The Solid Food segment is also experiencing rapid growth. This application is employed to enhance the removal of sugars and other contents from plant cells, such as sugar beets. Additionally, it is utilized in reducing the solid volume (sludge) of wastewater.
Pulsed Electric Field Technology Market – By Intensity:
Market segmentation by intensity reveals that the 50 kV/cm and above category holds the highest market share. High-intensity PEF technology involves applying high-voltage pulses to foods positioned between two electrodes. This process ensures the production of fresh-like and safe food with enhanced quality. High-intensity PEF also facilitates faster and more effective inactivation of microorganisms and spoilage in food products, along with instant processing of heat-sensitive food and prolonged shelf life.
Pulsed Electric Field Technology Market – By region:
The pulsed electric field technology market is divided into five major regions based on geography – North America, Europe, Asia-Pacific, South America, and the Middle East and Africa.
Europe stands out as the primary regional market for pulsed electric field technology. Driven by the United Kingdom, the European market experiences growth due to increased focus on food preservatives and the healthcare sector. Healthcare spending in the region, as per the European Commission, has seen a rise from approximately 3% to nearly 4% of the overall GDP between 2019 and 2019. With a projected population of 520 million by 2070, coupled with significant growth in R&D expenditure, particularly in Germany, the UK, and France, the market is poised for substantial growth in the coming years.
North America holds the position of the second-largest market for pulsed electric field technology, capturing over 25% of the market share throughout the forecast period. The United States is expected to contribute significantly to this market share, with increased demand also noted in Canada. The consumption of pasteurized products among 80% of the adult population in the U.S. in 2022 indicates a high level of product popularity, suggesting further growth potential.
Asia-Pacific excluding Japan is an emerging yet rapidly growing technology market, with key markets including China and India. The large populations of these countries create promising growth opportunities for the pulsed electric field technology market.
Pulsed Electric Field Technology Market – By Companies:
The global pulsed electric field technology market exhibits a high degree of fragmentation and competitiveness, characterized by the presence of various mid and small-scale enterprises in the industry. Key players in the pulsed electric field technology market are strategically focused on market positioning through the expansion of product portfolios, accomplished through mergers and the introduction of new products.
Chapter 1. PULSED ELECTRIC FIELD TECHNOLOGY MARKET – Scope & Methodology
1.1. Market Segmentation
1.2. Assumptions
1.3. Research Methodology
1.4. Primary Sources
1.5. Secondary Sources
Chapter 2. PULSED ELECTRIC FIELD TECHNOLOGY MARKET – Executive Summary
2.1. Market Size & Forecast – (2023 – 2030) ($M/$Bn)
2.2. Key Trends & Insights
2.3. COVID-19 Impact Analysis
2.3.1. Impact during 2023 – 2030
2.3.2. Impact on Supply – Demand
Chapter 3. PULSED ELECTRIC FIELD TECHNOLOGY MARKET – Competition Scenario
3.1. Market Share Analysis
3.2. Product Benchmarking
3.3. Competitive Strategy & Development Scenario
3.4. Competitive Pricing Analysis
3.5. Supplier - Distributor Analysis
Chapter 4. PULSED ELECTRIC FIELD TECHNOLOGY MARKET - Entry Scenario
4.1. Case Studies – Start-up/Thriving Companies
4.2. Regulatory Scenario - By Region
4.3 Customer Analysis
4.4. Porter's Five Force Model
4.4.1. Bargaining Power of Suppliers
4.4.2. Bargaining Powers of Customers
4.4.3. Threat of New Entrants
4.4.4. Rivalry among Existing Players
4.4.5. Threat of Substitutes
Chapter 5. PULSED ELECTRIC FIELD TECHNOLOGY MARKET - Landscape
5.1. Value Chain Analysis – Key Stakeholders Impact Analysis
5.2. Market Drivers
5.3. Market Restraints/Challenges
5.4. Market Opportunities
Chapter 6. PULSED ELECTRIC FIELD TECHNOLOGY MARKET – By Application
6.1 Liquid Food
6.2. Solid Food
Chapter 7. PULSED ELECTRIC FIELD TECHNOLOGY MARKET– By Type
7.1 10 – 30 kV/cm
7.2. 30 – 50 kV/cm
7.3. 50 kV/cm and above
Chapter 8. PULSED ELECTRIC FIELD TECHNOLOGY MARKET – By Region
8.1. North America
8.2. Europe
8.3.The Asia Pacific
8.4.Latin America
8.5. Middle-East and Africa
Chapter 9. PULSED ELECTRIC FIELD TECHNOLOGY MARKET – Company Profiles – (Overview, Product Portfolio, Financials, Developments)
9.1. CoolWave Processing BV
9.2. Diversified Technologies Inc.
9.3. Elea vertriebs und vermarktungsgesellschaft mbh
9.4. EnergyPulse Systems Lda
9.5. Food Physics LLC
9.6. Montena technology sa
9.7. Pulsemaster
9.8. ScandiNova Systems AB
9.9. Wek-Tec e. K.
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Frequently Asked Questions
The Global PEF Technology Market was estimated to be worth USD 136.26 Million in 2022 and is projected to reach a value of USD 887.86 Million by 2030, growing at a fast CAGR of 26.4% during the forecast period 2023-2030.
The rapid growth in the population and continuously increasing urbanization, improvement in living standards, and rising disposable income among the middle-class population are driving the demand for the Global Pulsed Electric Field Technology market.
The Global Pulsed Electric Field Technology Market by Application is Liquid Food and Solid Food.
Europe and North America are the two leading regions with a fast-growing CAGR and are anticipated to grow further during the forecast period.
The three leading key players in the Global Pulsed Electric Field Technology Market are Montena technology sa, Pulsemaster, ScandiNova Systems AB, and Others.