Dairy Processing Equipment Market Forecasts Substantial Growth, Eyeing US$ 18.3 Billion by 2034 | FMI Report
Dairy Processing Equipment Market witnesses steady growth fueled by demand for efficient processing solutions, technological advancements, and increasing dairy product consumption globally.
NEWARK, Del, April 24, 2024 (GLOBE NEWSWIRE) -- According to different dairy processing equipment market growth drivers, the market will navigate its progress path at a moderate pace, projecting a CAGR of *5.5%* and reaching *US$** 18.3 billion* by 2034. The dairy processing equipment market will be valued at *US$** 10.7 billion* by 2024.Government initiatives will drive the market, including offering subsidies, incentivizing dairy production businesses, and levitating taxation policies. Also, these efforts will reduce the production cost, enhancing the dairy processing equipment market growth.
The growing awareness regarding nutritional food increases the demand for dairy products. Also, the growing population adds surplus to this demand, which helps the dairy processing equipment market size propagate moderately.
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The robust technological infrastructure will enhance room for innovation. Due to this, dairy production will seek better equipment to reduce labor costs. Thus, this will be a vital factor driving the dairy processing equipment market growth.
The rising environmental concern fuels the need for sustainable dairy products. Hence, this will increase the demand for processing equipment. Consequently, it will drive the dairy processing equipment market.
*Key Takeaways from the Market Study*
· Compared to the historical era, the dairy processing equipment market will not show any advancement in its progress rate. The market will likely continue to propagate at a CAGR of 5.5%.
· The Indian market will likely provide a broader landscape for the market, as it projects its progress at a CAGR of 4.2%, the highest among all other countries.
· Homognizer segment will likely ensure its market share reaches 23.4% by 2024.
· The rising automation is a key market growth contributor. The segment will secure 56.4% of the market space by 2024.
“The abundant availability of substitute products and the volatility of prices of the complementary goods create restraints for the dairy processing equipment market,” *- **Nandini Roy Choudhury**, Client Partner at Future Market Insights*
*Competitive Landscape*
Major dairy processing equipment manufacturers occupy a substantial market share, cluttering the competitive landscape. Due to this, new entrants find fewer opportunities to expand freely in the market. However, innovation and lending its special services to large-scale businesses might help them gain more market space.
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Existing key players are known to use market expansion modes like partnerships, collaborations, mergers and acquisitions, and international expansion. These strategies uplift their market occupancy. The following key developments have been churning the market:-
· In March 2024, GEA Group strengthened its ties with Hovione. These two organizations bolstered their partnerships to introduce ConsiGma CDC flex continuous tableting technology. Moreover, the organization aimed to expand in Portugal with the help of Hovione, concreting the market position.
· In March 2024, Krones AG introduced a new membrane filtration system to its product portfolio. These systems are bought from Milkron. This will help the organization to expand its dairy production, driving its growth in the market.
*Report Scope*
*Attributes* Details
*Estimated Market Size in 2024* US$ 10.7 billion
*Projected Market Valuation in 2034* US$ 18.3 billion
*Value-based CAGR 2024 to 2034* 5.5 %
*Forecast Period* 2024 to 2034
*Historical Data Available for* 2019 to 2023
*Market Analysis* Value in US$ billion
*Key Regions Covered* · North America
· Latin America
· Western Europe
· Eastern Europe
· South Asia and Pacific
· East Asia
· The Middle East and Africa
*Key Market Segments Covered* · Equipment Type
· Automation Type
· Application
· Region
*Key Countries Profiled* · The United States
· Canada
· Brazil
· Mexico
· Germany
· The United Kingdom
· France
· Spain
· Italy
· Poland
· Russia
· Czech Republic
· Romania
· India
· Bangladesh
· Australia
· New Zealand
· China
· Japan
· South Korea
· GCC Countries
· South Africa
· Israel
*Key Companies Profiled* · GEA Group
· Krones AG
· Tetra Pak International
· IDMC Limited
· SPX Corporation
· Van Den Heuvel
· John Bean Technologies Corporation
· Alfa Laval Corporation
· ISF Industries
· Agrometal Limited
· Coperion GmbH
· Caloris Engineering LLC
· Dui Ci Inox
· IMA Industria Machine Automatiche SPA
· Patkol Public Company Limited
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*Dairy Processing Equipment Market- Key Segments*
*By Equipment Type:*
· Thermal Treatment System
· Homogenizers
· Pasteurizers
· Dairy Centrifuges and Separators
· Evaporators and Dryers
· Filtration Systems
· Mixing and Blending Equipment
· Others
*By Automation Type:*
· Automatic
· Semi-automatic
*By Application:*
· Cheese
· Processed Milk
· Yogurt
· Protein Ingredients
· Milk Powder
· Others
*By Region:*
· North America
· Latin America
· Europe
· East Asia
· South Asia
· Oceania
· The Middle East & Africa*Author by:*
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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