Global Dairy Processing Equipment Market Set For 7.2% Growth, Reaching $15.02 Billion By 2028
Dairy Processing Equipment Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
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Dairy Processing Equipment Market Size 2024 And Growth Rate
The dairy processing equipment market size has been experiencing robust growth in recent years. From a market size of $10.63 billion in 2023, it is forecasted to reach $11.38 billion in 2024, a compound annual growth rate CAGR of 7.1%. Several factors have contributed to this growth in the past, including the increasing demand for dairy products and by-products, a growing emphasis on efficiency and automation in dairy processing, expansion of dairy processing facilities and developments in dairy farming and milk production. Moreover, stringent industry regulations and the implementation of hygienic and aseptic processing practices have also fuelled market growth.
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Dairy Processing Equipment Market Growth Forecast
In the coming years, the dairy processing equipment market is set to continue its expansion, with an expected market size of $15.02 billion by 2028 and a CAGR of 7.2%. The forecasted growth can be attributed to emerging trends such as rising demand for value-added dairy products and functional ingredients, adoption of eco-friendly processing practices, and increasing customer awareness of product quality and origin. Investments in research and development of advanced dairy processing technologies also promise to expedite market growth. Significant advancements to watch for include high-pressure processing HPP technology, automation and robotics in processing, advanced homogenization and pasteurization techniques, and clean-in-place CIP systems.
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Growth Drivers: Increasing Consumption of Dairy Products
The rising consumption of dairy products is poised to significantly drive the growth of the dairy processing equipment market. Dairy products, such as cheese, butter, and yogurt, are derived from the milk of mammals and necessitate processing to extend their shelf life and prevent the growth of harmful microorganisms. As per data from The Food and Agriculture Organization of the United Nations, dairy product consumption is predicted to increase by 2.3% annually, reaching 108kg per capita in India in 2028. As a result, the increasing consumption of dairy products is amplifying the growth of the dairy processing equipment market.
Key Industry Players
The market boasts major players such as Tetra Pak International S.A., GEA Group AG, Krones AG, SPX Flow Inc., Alfa Laval AB, JBT Corporation, Feldmeier Equipment Inc., Scherjon Dairy Equipment Holland B.V., Jimei Food Machinery Co. Ltd., Tecnal S.A., Marlen International Inc., ISF Industries Private Limited, Paul Mueller Company, IMA S.p.A., Shanghai Joylong Industry Co. Ltd., Stephan Machinery Gmb, Admix Inc., Agrometal Ltd., A&B Process Systems Corp., ABL Technology Ltd., Ager Tank & Equipment Co., Alpma Alpenland Maschinenbau GmbH, SPX Flow Inc., Bematek Systems Inc., Bepex International LLC., C. van 't Riet Dairy Technology BV, CEM Corporation., Central States Industrial Equipment and Service Inc., DCI Inc., Ecolab Inc., Fristam Pumps USA, Goma Engineering Pvt. Ltd., HRS Process Systems Ltd., IDMC Limited, Koss Industrial Inc., Lee Industries Inc.
Emerging Trends: Technological Advancements
Technological advancements are increasingly gaining popularity in the dairy processing equipment market. For instance, Lyras, Inc., a US-based company focused on providing technology for pasteurizing liquid foods, launched a sustainable cold pasteurization solution in September 2021. This solution deactivates bacteria without heating the liquid, preserving its natural flavor while extending its shelf life and reducing CO2 emissions, water usage, and cleaning chemical costs.
Segments
The dairy processing equipment market can be segmented based on –
1 Type: Pasteurizers, Homogenizers, Evaporators, Separator, Membrane Filtration Equipment, Other Types
2 Operation: Automatic, Semi-Automatic
3 Application: Processed Milk, Butter, Cheese, Milk Powder, Protein Ingredients, Other Applications
Regional Insights: Asia-Pacific Leading the Way
Asia-Pacific was the largest region in the dairy processing equipment market in 2023 and is predicted to be the fastest-growing region going forward. The dairy processing equipment market report offers insights into the markets in Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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