The agricultural food grade rubber conveyor belt market is expected to be $3,380.57 million in 2022 and $5,506.59 million by 2032. Sales of agricultural food-grade rubber conveyor belts are expected to increase at a CAGR of 5% during the forecast period.
As consumer preferences for packaged food and beverages grow, businesses are being forced to automate their manufacturing processes in order to increase production efficiency. One of the many applications where the market for food grade conveyor belts has grown significantly is beverage, dairy, ready-to-eat, and ready-to-mix food packaging.
In manufacturing facilities with automated assembly lines, standard conveyor belt systems are far more effective at moving goods. The increasing adoption of automated production lines across a wide range of industries in both developed and developing countries is expected to drive up demand for agricultural food-grade rubber conveyor belts over the forecast period.
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According to the report, demand for conveyor belts will remain strong due to the installation of conveyor belts in an increasing number of automated assembly lines installed in manufacturing facilities.
Standard conveyor belts with relatively more efficient performance result in the shortest turnaround time for manufacturers and thus have the greatest adoption potential.
Key Insights Drawn from the Research Intelligence
- Standard black rubber conveyor and elevator belt owing to superior efficiency holds more than 70% share in the total market value, at present.
- Application of agricultural and food grade rubber conveyor belt in processing equipment continues to be maximum, accounting for over half the share of the total market revenue.
- Material handling and packaging equipment are projected to cover a significant market value in terms of application, equating a share of just-under 1/4th of the global market revenue.
- With more than 60% value share in agricultural and food grade rubber conveyor belt market, synthetic rubber remains a preferred material over the natural variant.
- The end use analysis of agricultural and food grade rubber conveyor belt landscape reveals that food grains/cereals and sugar represent a cumulative share of more than 55% in the global value, followed by the vegetables segment.
- SEA & Pacific and Europe represent the largest regional markets for agricultural and food grade rubber conveyor belt respectively, contributing over 40% share in the total market value.
Maintenance Service
The global market for agricultural and food grade rubber conveyor belt is a highly fragmented landscape, with Tier 3 players holding a major share of the revenue. Looking at the intensity of competition on the global agricultural and food grade rubber conveyor belt landscape, a majority of global as well as regional players are striving to introduce maintenance service packages with an objective to cater to the growing demand for onsite conveyor belts maintenance.
As a typical conveyor belts system has an average life span of four years and requires timely maintenance check for superior performance, a wide scope lies for the incorporation of technologically advanced monitoring systems. Companies are likely to leverage their technical expertise in maintaining a differentiating edge over competition, projects the report.
Accelerated Local Food Production Is Creating Opportunities
Europe, one of the two key regions for growth of agricultural and food grade rubber conveyor belt market, has been the global agricultural hub. The EU has been playing a pivotal role in empowering local producers and farmers through CAP (Common Agricultural Policy). The ultimate objective of promoting local farming activities and supplement the overall food production levels is likely to propel sales of agricultural and food grade rubber conveyor belts in coming years.
Favorable government initiatives, improving food policies, and evolving FDA guidelines, collectively highlight growing significance of food production safety, security, speed, sustainability, efficiency, transport, and logistics across the agricultural and F&B industries. FMI thus expects emergence of a slew of lucrative deployment opportunities for agricultural and food grade rubber conveyor belt manufacturers.
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KEY SEGMENTS
By Product Type:
- White food grade rubber conveyor & elevator belt
- Green food grade rubber conveyor & elevator belt
- Standard black rubber conveyor & elevator belt
By Material Type:
- Natural rubber
- Synthetic rubber
By Application:
- Harvesting equipment
- Processing equipment
- Material handling & packaging equipment
- Bottling equipment
By End-use:
- Vegetables
- Fruits
- Sugar
- Food Grains/Cereals
- Salt
- Olives/Grapes
- Sugar Beet
- Nuts
- Others (Peppers, Wood Chips/Forestry, etc.)
By Region:
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe (RoE)
- Asia Pacific
- Latin America
- Middle East and Africa