Dairy Processing Equipment Market Worth $11.2 Billion by 2023 - Exclusive Report by MarketsandMarkets
CHICAGO, March 18, 2019 /PRNewswire/ -- According to the new market research report "Dairy Processing Equipment Market by Type (Pasteurizers, Homogenizers, Separators, Evaporators, Membrane Filtration), Application (Processed Milk, Fresh Dairy Products, Butter, Cheese, Milk Powder, Protein), Operation, and Region - Global Forecast to 2023", published by MarketsandMarkets, 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 growing consumption of dairy products with the increase in disposable income is driving the dairy processing equipment market across the world.
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The pasteurizers segment is estimated to account for the largest market share, in terms of value in 2018
Based on type, the dairy processing equipment market is segmented into pasteurizers, homogenizers, mixers, and blenders, separators, evaporators & dryers, membrane filtration equipment, and others such as churning equipment, crystallizers, chillers, silos, cutters, and cheese vats. The pasteurizers segment is estimated to account for the largest market share in 2018 as pasteurization is an essential process for the processing of milk and milk products. It purifies raw milk, which is contaminated with bacteria and other microorganisms.
The milk powder segment is estimated to witness the fastest growth in the dairy processing equipment market in 2018
By application, the dairy processing equipment market is segmented into processed milk, fresh dairy products, cheese, butter & buttermilk, milk powder, and protein ingredients. The milk powder segment is estimated to record the highest CAGR due to the growing demand in the production of infant formula. Milk powder has a long shelf life and does not require refrigeration. It can also be reconstituted with water when fresh milk is not available. Further, they can be used as functional and nutritional ingredients in the food processing industries.
Browse in-depth TOC on "Dairy Processing Equipment Market"
96 – Tables
68 – Figures
221 – Pages
The automatic segment is estimated to hold a larger market share in the dairy processing equipment market in 2018
By operation, the dairy processing equipment market is segmented into automatic and semi-automatic. The automatic segment is estimated to hold a larger market share as it would help reduce the cost of labor and enable end users to change between different processing operations. Robotics and automation are one of the latest developments in the dairy industry that help in reducing costs and improving efficiency.
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The Asia Pacific region is projected to dominate the market through the forecast period
The Asia Pacific region is estimated to dominate the market in 2018 and is projected to be the fastest-growing segment in the dairy processing equipment market during the forecast period. China is a leader in the global market as the country's population between the age group of 16 to 35 years is increasingly incorporating dairy products into their daily diet. 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 in this region. India is the world's largest producer of dairy products, which is another significant factor driving the market growth of the region. The government and non-government organizations in India are also providing funds to support the dairy processing industry, which is projected to create opportunities for the growth of the market in the country.
This report includes a study on the marketing and development strategies, along with a study on the product portfolios of the leading companies. It includes the profiles of leading companies such as GEA Group (Germany), SPX Flow (US), The Krones Group (Germany), Tetra Laval (Switzerland), Alfa Laval (Sweden), IMA Group (Italy), IDMC Limited (India), Feldmeier (US), Scherjon (Netherlands), Coperion (Germany), Van Den Heuvel (Netherlands), and JBT Corporation (US).