The dairy processing equipment market is projected to grow at a CAGR of 5.4% from 2018 to 2023
NEW YORK, March 26, 2019 /PRNewswire/ -- The dairy processing equipment market is projected to grow at a CAGR of 5.4% from 2018 to 2023.
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The global dairy processing equipment market is estimated to be valued at USD 8.6 billion in 2018 and is projected to reach USD 11.2 billion by 2023, at a CAGR of 5.4%. The market is driven by factors such as the increasing demand for dairy products, adoption of efficiency-enhancing technologies by dairy manufacturers, the launch of technologies for bringing automation in processes, and the abolition of milk quota in the European Union. The rising cost of power and energy required for the operation of processing equipment is a key restraint for the dairy processing equipment market.
By type, the evaporators & dryers segment is projected to witness the highest growth during the forecast period.
The evaporators & dryers segment is estimated to grow at the highest CAGR as evaporators are used to separate the water content from milk to get a more stable product.The growing demand for infant formula has led to a proportionate increase in demand for milk powders.
The preparation of milk powder requires the usage of dryers, which helps remove the moisture content in the milk.Spray dryers are atomizers that transform the liquid concentrate into many small droplets, which are then exposed to forced hot air.
The water evaporates instantaneously, wherein droplets are transformed into powder particles. Long tube vertical evaporator, film evaporators with mechanically moving parts, and plate evaporators are predominantly used evaporators in the dairy industry.
Due to the increasing demand for enhanced shelf life of dairy products, the milk powder application segment is projected to grow at the highest CAGR during the forecast period
Based on application, the dairy processing equipment market is segmented into processed milk, fresh dairy products, cheese, butter & buttermilk, milk powder, and protein ingredients.Milk powder has several advantages associated with it, such as long shelf life and the non-requirement of refrigeration.
It faces an increased demand in the infant formula business.With the growing demand to achieve nutritional benefits of dairy across applications, the demand for dairy ingredients in infant formula applications is projected to increase in the near future.
This factor is creating an opportunity for the equipment manufacturers to expand their portfolios for milk powder used in infant formula applications.
The Asia Pacific is projected to be the fastest-growing region in the dairy processing equipment market, due to increased adoption of dairy-based diet in the Chinese market
India is the world's largest producer of milk with most of its products used domestically, as South Asians typically consume a dairy-rich diet.The demand for dairy foods is high in India and China, although the processing market in these countries is unorganized.
The largest contribution to dairy processing comes from Australia and New Zealand.There is a growing demand for fortified dairy products as the manufacturer's objective is to add value to the product.
Hence, there is an increase in demand for dairy processing equipment.
The global dairy processing equipment market is segmented region-wise, with a detailed analysis of each region. These regions include North America, Europe, Asia Pacific, South America, and Rest of the World (RoW).
Break-up of Primaries
• By Company Type: Tier 1 - 40%, Tier 2 - 35%, and Tier 3 - 25%
• By Designation: C-level - 32%, D-level - 42%, and Others* - 26%
• By Region: Europe - 28%, North America - 22%, Asia Pacific - 18%, South America – 13%, and Rest of the World (RoW) - 19%
*Others include sales managers, marketing managers, and product managers.
Leading players profiled in this report
• GEA Group (Germany)
• SPX Flow (US)
• The Krones Group (Germany)
• Tetra Laval (Switzerland)
• Alfa Laval (Sweden)
• JBT Corporation (US)
• IMA Group (Italy)
• IDMC Limited (India)
• Feldmeier (US)
• Scherjon (Netherlands)
• Coperion (Germany)
• Van Den Heuvel Dairy & Equipment (Netherlands)
Research Coverage
This report segments the dairy processing equipment market on the basis of type, application, operation, and region. In terms of insights, this research report focuses on various levels of analyses—competitive landscape, end-use analysis, and company profiles—which together comprise and discuss the basic views on the emerging & high-growth segments of the dairy processing equipment market, high-growth regions, countries, government initiatives, drivers, restraints, opportunities, and challenges.
Reasons to buy this report
• To get a comprehensive overview of the dairy processing equipment market
• To gain wide-ranging information about the top players in this industry, their product portfolios, and key strategies adopted by them
• To gain insights about the major countries/regions, in which the dairy processing equipment market is flourishing
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