Meticulous Research® – leading global market research company published a research report titled, “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.”
According to this latest publication from Meticulous Research®, the global dairy processing equipment market is expected to grow at a CAGR of 5.8% from 2019 to reach $11.05 billion by 2024. The growth of this market is driven by factors such as increasing demand for processed dairy products, growing need to increase productivity, focus on safety of dairy products and workers, and rising automation trends in dairy industry. In addition, emerging economies such as Asia, Latin America, and Africa provides significant opportunity for the manufacturers of dairy processing equipment. However, high cost of equipment due to its high production cost hinders the growth of this market to some extent. In addition, lack of trained labor force in many parts of the globe poses a great challenge to the global dairy processing equipment manufacturers.
The global dairy processing equipment market study presents historical market data in terms of values (2017 and 2018), estimated current data (2019), and forecasts for 2024-by type (pasteurizers, homogenizers, separators, evaporators and drying equipment, membrane filtration equipment, and others), application (processed milk, milk powder, cheese, protein concentrates, yogurt, and others), and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa). The study also evaluates industry competitors and analyzes the market at regional and country level.
On the basis of type, pasteurizers commanded the largest share of the global dairy processing equipment market in 2018, mainly due to growing need to safeguard product stability and surge in expectancy to increase the shelf life of dairy products. However, evaporators and drying equipment expected to witness a rapid growth during the forecast period due to increasing consumer demand for fortified dairy products such as, yogurt, milk protein, condensed milk, and whey-based products.
On the basis of application, 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. However, cheese segment is expected to witness a rapid growth during the forecast period. The rapid growth of this segment is attributed to the shifting dietary preferences, growing production of cheese, and improving economies and household incomes.
This research report analyzes major geographies and provides comprehensive analysis of North America (U.S. and Canada), Europe (Germany, France, Italy, U.K., Spain, and RoE), Asia-Pacific (China, Japan, India, Australia, and RoAPAC), Latin America (Brazil, Mexico, Argentina, and RoLATAM), and Middle East & Africa. Asia-Pacific commanded the largest share of the global dairy processing equipment market in 2018, followed by Europe and North America. The largest share of this region is mainly attributed to increasing demand for processed dairy products in emerging and developing countries including India, China, Japan, Indonesia, and Thailand. This region is witnessing tremendous growth for dairy processing industry primarily due to the increasing urbanization, health awareness, and disposable income. Also, changing regulatory environment and shifting consumer preferences provide opportunities to capitalize on to the dairy processing equipment stakeholders in the region.
The major 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).
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