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,” says an FMI analyst.
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.
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.
More Valuable Insights Available
Future Market Insights offers an unbiased global dairy processing equipment market analysis, providing historical data from 2019 to 2023 and forecast statistics from 2024 to 2034.
The market is segmented by Equipment Type (Thermal Treatment Systems, Homogenizers, Pasteurizers, Dairy Centrifuges and Separators, Evaporators and Dryers, Filtration Systems, Mixing and Blending Equipment, and Others), Automation Type (Automatic and Semi-Automatic), Application (Cheese, Processed Milk, Yogurt, Protein Ingredients, Milk Powder, and Others), and Regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa).
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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
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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