LONDON, March 7, 2016 /PRNewswire/ -- "Dairy processing equipment market projected to grow at a CAGR of 5.4%"
The global dairy processing equipment market is projected to reach USD 10.90 billion by 2020, growing at a CAGR of 5.4% from 2015 to 2020. This market is witnessing growth due to a number of factors such as dairy farmers getting more milk per cow, dairy processers increasing their output, and the rise in global demand for dairy products. This rise is due to the availability of a variety of dairy products that appeal to consumers. This demand is also fueled by the population growth, rapid urbanization, increased disposable income, and the emergence & modernization of cold chain facilities such as refrigerated transport & storage.
"Evaporators & drying equipment are projected to be the fastest growing market from 2015 to 2020"
Evaporators & dryers and membrane filters are the equipment in dairy processing to grow in future as protein concentrates and milk powders are processed through these equipment and these products are increasingly being used by dairy processors to introduce new innovative dairy products in order to meet the consumer demand. The dairy processing equipment market is concentrated, with leading dairy processing equipment manufacturers driving the market growth. The emerging markets with increasing demand for dairy products are estimated to generate potential opportunities in the market for evaporators and drying equipment.
"Milk powders and protein concentrates are expected to grow with the highest CAGR during the forecast period"
Globally, processed milk is estimated to account for the largest share for the dairy processing equipment market but milk powders and protein concentrates application is growing at the highest CAGR as the demand for these ingredients are increasing in developing countries such as India, China, and the Latin American countries as they are used to fortify nutraceutical products and infant and sports nutrition products. The factors attributing the growth of nutraceutical and infant & sports nutrition products are the rise in population, increase in spending power, and lifestyle changes.
"Asia-Pacific dominated the market and is also projected to be the fastest growing market during the forecast period"
The changing dairy consumption patterns in developed markets and the rising consumption in emerging markets are resulting in increased trade from dairy producing countries to emerging markets such asChina and other Asia-Pacific countries. China in the Asia-Pacific region is a major importer of dairy products and serves as a lucrative market for international dairy processors to invest in order to meet the growing consumer demand, hence providing an opportunity for dairy equipment manufacturers. These factors have played a major role in the dominance of the Asia-Pacific dairy industry across the globe.
The breakdown of primary interviews on the basis of company type and region is provided below:
- By Company Type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
- By Designation: C level – 35%, Director Level – 25%, and Manager level – 40%
- By Region: North America – 20%, Europe – 30%, Asia-Pacific – 40%, Latin America – 5%, and RoW – 5%
Leading players such as GEA Group (Germany), The Krones Group (Germany), SPX Corporation (U.S.), Tetra Laval (Switzerland), and Alfa Laval (Sweden) have been profiled in the report. Other players include IMA Group (Italy), IDMC Limited (India), A&B Process Systems (U.S.), Feldmeir Equipment, Inc. (U.S.), and Scherjon Equipment Holland B.V. (The Netherlands).
Reasons to buy this report:
- To get a comprehensive overview of the global dairy processing equipment market
- To gain wide-ranging information about the top players in this industry, their product portfolios, and key strategies adopted
- To gain insights into the major countries/regions in which the dairy processing equipment market is flourishing
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