Market Research Report
Dairy Processing Equipment Market by Type, Application, and Geography - Global Forecast to 2024
|Published by||Meticulous Market Research Pvt. Ltd.||Product code||833823|
|Published||Content info||153 Pages
Delivery time: 1-2 business days
|Dairy Processing Equipment Market by Type, Application, and Geography - Global Forecast to 2024|
|Published: May 7, 2019||Content info: 153 Pages||
Dairy Processing Equipment Market by Type (Pasteurizers, Homogenizers, Separator, Evaporator & Dryer, Membrane Filtration Equipment), Application (Processed Milk, Milk Powder, Cheese, Protein Concentrate, Yogurt), and geography- Global Forecast to 2024.
The global dairy processing equipment market is expected to grow at a CAGR of 5.8% during the forecast period to reach $11,052.9 million by 2024 from $8,326.5 million in 2019. The global dairy processing equipment market is majorly driven by the growing processed dairy product consumption and growing demand for healthier and palatable dairy products, which has increased rapidly in recent decades. This demand is associated with increasing urbanization, a huge base of the population, hectic lifestyles, and rising number of nuclear families. As the demand for processed dairy is increasing, technological advancements are necessary for the growth of the sector and for the diversification of the existing production capacity of the dairy processing firms to meet the demand. Hence, dairy processors are continuously seeking and exploring new processing and preservation technologies with the help of technologically advanced equipment, which is fueling the adoption of dairy processing equipment across the globe. Further, focus on safety of dairy products and workers, growing need to increase productivity, increasing focus of dairy processing product manufacturers to reduce production cost, and government support to promote dairy processing sector are also bolstering the growth of this market.
Moreover, emerging economies such as Latin America, South East Asia, and Africa provides significant opportunity for the manufacturers in the global dairy processing equipment market, owing to their growing dairy industry, processed dairy product consumption, health awareness, disposable income, per capita income, investments from global players, and government initiatives to promote dairy processing.
However, the factors such as volatile raw milk prices, need of production facilities to be located close to customers to minimize transportation costs, and need of continuous innovation and investment in new technology forces equipment manufacturers to invest more which ultimately increases final price of equipment, making it difficult for dairy processors, especially small and medium scale dairy processors to afford the equipment. Further, increasing inclination towards consumption of minimal processed dairy products and lack of trained labor force restricts the growth of the global dairy processing equipment market to some extent.
The global dairy processing equipment market is mainly segmented by type (pasteurizers, homogenizers, separator, evaporator & dryer, membrane filtration equipment), application (processed milk, milk powder, cheese, protein concentrate, yogurt), and geography.
There is wide range of dairy processing equipment used by dairy manufacturers. Based on type, the global dairy processing equipment market is classified as pasteurizers, homogenizers, separators, evaporators and drying equipment, membrane filtration equipment, and others. The pasteurizers commanded the largest share of the global dairy processing equipment market in 2018. The large share of pasteurizers is mainly attributed to growing need to safeguard product stability and surge in expectancy to increase the shelf life of dairy products. However, evaporators and drying equipment market is expected to witness a rapid growth during the forecast period.
Based on application, global dairy processing equipment market is divided into processed milk, milk powder, cheese, protein concentrates, yogurt, and others. Processed milk segment dominated the global dairy processing equipment market in 2018, as it is one of the most produced and consumed dairy products by almost all age groups in all regions.
Geographically, the global dairy processing equipment market is segmented into North America (U.S. and Canada), Europe (Germany, France, Italy, U.K., Spain, The Netherlands, and RoE), Asia Pacific (China, India, Japan, Australia, and RoAPAC), and Rest of World (Latin America and Middle East & Africa). The Asia-Pacific region dominated the dairy processing equipment market in 2018 and is expected to dominate this market for the next five years. The geographic analysis provides detailed insights on the key trends of the industry in the listed regions & countries, identifying the demographic & economic impact, government & private investments, and regulatory scenario.
The report also includes the competitive landscape based on extensive assessment of the key strategic developments adopted by leading market participants in the industry over the past 5 years (2015-2019). The market players employed various strategies to expand their product offerings, global footprint, and augment their market share. The key strategies followed by most companies in the global dairy processing equipment market include mergers & acquisitions; new product launches; and expansion.
The key players operating in the global dairy processing equipment market are GEA Group Aktiengesellschaft (Germany), JBT Corporation. (U.S.), SPX Flow Inc. (U.S.), Krones AG (Germany), Alfa Laval AB (Sweden), Tetra Pak International S.A. (Switzerland), Paul Mueller Company (U.S.), IMA Group (Italy), Feldmeier Equipment INC. (New York), Scherjon Dairy Equipment Holland (The Netherlands), Stephan Machinery GmbH (Germany), and Shanghai Joylong Industry Co. Ltd. (China).