PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1399417
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1399417
Scope of the Report | |
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Years Considered for the Study | 2023-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Units Considered | Value (USD) |
Segments | By Type, Application, Mode of Operation, and Region |
Regions covered | North America, South America, Europe, Asia Pacific, and RoW |
The dairy processing equipment market is projected to grow to USD 14.4 billion in 2028 from USD 10.7 billion in 2023 at a CAGR of 6.2% during the forecast period 2023-2028. In the dairy sector, market competitiveness is a driving force behind the substantial growth of the dairy processing equipment market. Fierce competition compels companies to continually enhance their production processes, leading to significant investments in cutting-edge processing equipment. Manufacturers recognize that staying ahead in the market necessitates not only maintaining superior product quality but also achieving cost-effectiveness. Advanced processing equipment enables companies to streamline operations, reduce production costs, and optimize resource utilization, thereby enhancing overall efficiency. Moreover, as consumer preferences evolve, companies seek to differentiate their products through innovation, and modern processing technology provides the means to meet these changing demands. The imperative to gain a competitive edge prompts continuous research and development efforts, further fueling the demand for state-of-the-art dairy processing equipment. As companies vie for market share, the dynamic landscape of competition acts as a catalyst, propelling the growth of the dairy processing equipment market.
"Pasteurizers segment is expected to be one of the largest sub-segments in the market."
Pasteurizers stand out as one of the largest subsegments in the dairy processing equipment market due to their pivotal role in ensuring product safety and extending shelf life. In response to stringent food safety regulations, dairy processors increasingly invest in pasteurization technology to eliminate harmful pathogens and bacteria, enhancing the overall quality and safety of dairy products. Pasteurizers are indispensable in the processing of milk, cheese, and other dairy items, making them a cornerstone for a diverse range of products in the industry. Additionally, as consumer awareness of health and safety standards grows, there is a heightened demand for dairy products with extended shelf life without compromising nutritional content. The versatility of pasteurizers in accommodating various dairy products, coupled with their ability to contribute to the industry's adherence to regulatory standards, positions them as a crucial and expansive subsegment within the broader dairy processing equipment market.
Canada is projected to have the highest growth during the forecast period within North America region.
The Dairy Innovation and Investment Fund, a strategic initiative announced by the Honourable Lawrence MacAulay, Minister of Agriculture and Agri-Food, has become a pivotal driver in fueling the dairy processing equipment market in Canada. With a substantial investment of up to USD 243.1 million over the next decade, this fund aims to fortify the competitiveness of the Canadian dairy sector, especially in light of the challenges posed by the Canada-United States-Mexico Agreement (CUSMA).
A critical issue facing the dairy industry is the surplus of solids non-fat (SNF), a byproduct resulting from the extraction of fat from cow's milk. The Dairy Innovation and Investment Fund is specifically tailored to address this concern by supporting medium to large-scale projects for dairy processors. These projects focus on modernizing, replacing, and increasing the processing capacity for SNF, thereby mitigating the challenges posed by surplus production. Moreover, the fund aligns with sustainability goals by minimizing the upmarketing of skim milk, contributing to waste reduction in the industry. The sustained government funding through this initiative not only tackles immediate sectoral challenges but also creates opportunities for equipment manufacturers and suppliers. The emphasis on technological upgrades and capacity expansion aligns with the broader industry goal of enhancing efficiency and sustainability.
Prominent companies include GEA Group Aktiengesellschaft (Germany), SPX Flow (US), Tetra Laval (Switzerland), ALFA LAVAL (Sweden), JBT (US), Bucher Industries AG (Switzerland), Krones AG (Germany), and The Middleby Corporation (US) among others.
This research report classifies the dairy processing equipment market based on various factors, including by type (Pasteurizers, Homogenizers, Mixers & Blenders, Separators, Evaporators, Dryers, Membrane Filtration Equipment, Other Types), mode of operation (Automatic and Semi-Automatic), application, and region (North America, Europe, Asia Pacific, South America, and Rest of the World). The report provides comprehensive insights into market dynamics, encompassing drivers, limitations, challenges, and opportunities that influence the growth of the dairy processing equipment market. Additionally, it offers a thorough analysis of key industry players, their business profiles, solutions, services, strategies, contracts, partnerships, agreements, new product launches, mergers, acquisitions, and recent developments in the dairy processing equipment market. The report also includes a competitive analysis of emerging startups within the dairy processing equipment market ecosystem.
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall dairy processing equipment market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
(Business overview, Products offered, Recent developments & MnM View)**