With 6.2%CAGR, Dairy Processing Equipment Market Size to Reach USD 15.53 billion by 2029

According to Exactitude Consultancy the Global Dairy Processing Equipment Market value is expected to reach USD 15.53 billion by 2029, growing at a 6.2% CAGR of Between Forecast Period 2023 and 2029.

PUNE, India, March 8, 2023 /PRNewswire/ -- The global Dairy Processing Equipment Market Size is expected to grow at 6.2% CAGR from 2023 to 2029. It is expected to reach above USD 15.53 billion by 2029 from USD 9.03 billion in 2022. The dairy processing equipment market involves the manufacturing and distribution of machinery and tools used in the production, processing, packaging, and transportation of dairy products. These products include milk, cheese, butter, yogurt, and ice cream. The market is driven by the increasing demand for dairy products, particularly in developing countries, as well as advancements in technology that have led to more efficient and automated dairy processing equipment.

Additionally, there is a growing trend towards the adoption of sustainable and eco-friendly dairy processing practices, which has resulted in the development of innovative equipment that reduces energy consumption and waste generation. The market is highly competitive and includes several major players, with a focus on innovation and product development.

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Driving & Restraining Factors

Growing Demand for Healthier Dairy Products is Boosting the Growth of the Market

The dairy industry is experiencing growth due to the increasing demand for healthier dairy products that are low in fat, cholesterol, and sugar. Consumers are also seeking a wide variety of flavors in their dairy products, which is driving market growth. To meet the changing preferences and health needs of consumers, dairy processing companies are developing innovative products that balance nutrition, taste, and cost. Automation is also playing a significant role in the dairy processing industry, as it increases efficiency, reduces adulteration, and helps meet required quality standards. Specialized processes such as ultrafiltration and automated control systems for processing products that are low in fat, sugar, and cholesterol-free are predicted to contribute to the market's growth.

Economic Slowdown and Outbreak of COVID-19 is Expected to Hinder the Market Growth

According to secondary sources, the recent outbreak of COVID-19 is expected to hinder the growth of the dairy processing equipment market by more than 12% in the coming years. Governments worldwide have restricted global trade of non-essential products, including processed dairy products such as milk powders, protein ingredients, and other dairy processed products, which has limited their production and sales. The spread of COVID-19 has also led to governments implementing strict lockdown measures in many countries, resulting in a slowdown in overall economic conditions and production capacities. This has affected the purchasing decisions of organizations, resulting in a downturn in the dairy processing equipment market.

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Companies Covered in Dairy Processing Equipment Market Report:

• GEA Group
• SPX FLOW Inc
• Tetra Laval International S.A.
• Alfa Laval Corporate AB
• John Bean Technologies (JBT) Corporation
• Patkol Public Company Limited
• IDMC Limited
• Feldmeier Equipment
• A&B Processing Systems
• Scherjon Equipment Holland B.V.
• Krones AG
• SPX Corporation.

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Industry Developments:

• April 2019: Caloris Engineering LLC announced acquisition of Seitz Stainless, which is an equipment fabricator. This was a strategic decision made by the company to add in-house manufacturing of its products.
• October 2018: •  Krones AG acquired Sprinkman US-based processing equipment manufacture. Sprinkman specializes in the dairy and brewing industry, thus resulting in enhancement of Krones AG product portfolio in North America.

Report Benefits

• Develop business strategies by understanding the trends shaping and driving factor.
• Drive revenues by understanding the key trends, innovative products and technologies, market segments, and companies likely to impact the Dairy Processing Equipment Industry in the future.
• Formulate effective sales and business strategies by understanding the competitive landscape and by analyzing the company share of Dairy Processing Equipment Market leaders.
• Identify emerging players with potentially strong product portfolios and create effective counter-strategies to gain a competitive advantage.
• Track sales in the global and country-specific Market.
• Organize your sales and marketing efforts by identifying the market categories and segments that present maximum opportunities for consolidations, investments and strategic partnerships.

How will Changing Food Behavior Affect Dairy Processing Market?

Changing food behaviors are expected to have a significant impact on the dairy processing market.

One of the main drivers of change in food behavior is the increasing focus on health and wellness. Consumers are becoming more health-conscious, and this has led to a shift towards plant-based and non-dairy alternatives to traditional dairy products. This trend is likely to impact the demand for dairy processing equipment, as the demand for non-dairy products increases, the demand for dairy processing equipment may decrease.

Another factor that is likely to affect the dairy processing market is the growing interest in sustainable and eco-friendly food production practices. Consumers are becoming increasingly concerned about the environmental impact of their food choices, and this has led to a focus on sustainable food production practices, including the reduction of food waste and the use of renewable energy sources. As a result, there is a growing demand for dairy processing equipment that is energy-efficient and reduces waste generation.

In addition, changing food behaviors have led to an increasing demand for customized and specialized dairy products. Consumers are looking for unique flavors, textures, and nutritional profiles in their dairy products. This has led to the development of innovative dairy processing equipment that can produce specialized dairy products, such as lactose-free, organic, and low-fat products.

Overall, changing food behaviors are likely to have a significant impact on the dairy processing market, driving innovation and new product development, while also increasing the demand for sustainable and energy-efficient processing equipment.

Regional Insights:

The market is further categorized into major regions, namely North America, Europe, Asia Pacific, The Middle East, and Africa, and Latin America. The market in the Asia Pacific region is expected to grow at the highest CAGR during the forecast period. Also, the region has emerged as a major region in the global market, with a substantial surge in the production, processing, and consumption of milk and milk-related products. Additionally, changing consumer's demand preferences owing to an increase in their disposable income is forming enhanced market in the region.

Additionally, Australia is among the major producers, and exporter of dairy-related products to China other countries across the regions. Furthermore, India is one of the largest producers of raw milk and according to the Food and Agriculture Organization of the United Nations it's 50% of the production is consumed on-farm itself. The region's constructiveness is also perceiving great consideration from foreign stockholders. The increase in the production of dairy products and demand in Asia Pacific region is proving to be a perfect prospect for private and public investment.

Key Market Segments: Dairy Processing Equipment Market

By Type

• Pasteurizers
• Homogenizers
• Separators
• Evaporators and Drying Equipment
• Membrane Filtration Equipment
• Others

By Applications Industry

• Processed Milk
• Cream
• Milk Powders
• Cheese
• Protein Ingredient
• Others

By Region

• North America
• Europe
• Asia Pacific
• South America
• Middle East and Africa

Frequently Asked Questions About This Report

• How big is the Dairy Processing Equipment Market?
• What is the Dairy Processing Equipment Market growth?
• Which segment accounted for the largest Dairy Processing Equipment Market share?
• Who are the key players in the Dairy Processing Equipment Market?
• What are the factors driving the Dairy Processing Equipment Market?

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SOURCE Exactitude Consultancy

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