Dairy Processing Equipment Market Worth 10.90 Billion USD by 2020
The global dairy processing equipment market is projected to reach USD 10.90 billion by 2020, growing at a CAGR of 5.4% from 2015 to 2020.
Northbrook, IL -- (SBWire) -- 12/07/2017 --The report "Dairy Processing Equipment Market by Type (Pasteurizers, Homogenizers, Separators, Evaporators & Dryers, Membrane Filtration Equipment), by Application (Processed Milk, Cream, Milk Powder, Cheese, Protein Ingredients) & by Region - Global Forecast to 2020", The global dairy processing equipment market is projected to reach USD 10.90 Billion by 2020, growing at a CAGR of 5.4% from 2015 to 2020.
Browse 79 market data Tables and 46 Figures spread through 159 Pages and in-depth TOC on "Dairy Processing Equipment Market - Global Forecast to 2020"
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The growth of this market is attributed to the increasing demand for consumption of dairy products and technological advancements in dairy processing equipment. The major drivers are the rising global consumer demand for dairy products, increasing dairy production, changing needs, taste & preferences among consumers, and growing demand for healthier and palatable dairy products. The rising health consciousness among people has increased the consumption of processed dairy products such as skimmed milk.
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Evaporators & drying equipment are projected to be the fastest growing market from 2015 to 2020
The demand for evaporator & dryer from dairy processors is increasing in Europe, Asia-Pacific, Latin America, and RoW, whereas in North America, the demand for membrane filtration is on the rise. In developed markets, consumer demand for fortified dairy products such as whey-based products & milk protein dairy products is on the rise; hence, the market for evaporators and dryers is growing at a higher pace. Protein concentrates and milk powders are used as fortifiers in these products and are processed through membrane filters and evaporators & dryers. Hence, the market for these equipment is growing at a higher CAGR.
Processed milk accounted for the largest market share in 2014
The emergence of high income urban population group has changed the pattern of milk use. They show the preference for processed milk and milk products over ordinary raw milk because ordinary raw milk is relatively much more perishable and susceptible to disease and processed milk and milk products are convenient to handle and have higher value and facilitate large-scale use.
Key to success of the dairy processing equipment market in the Asia-Pacific region
The Asia-Pacific region is the largest market for dairy processing equipment in the world. The two major countries that contributed the largest market share in this region are Australia and New Zealand. India is the largest producer of milk in the world. Hence, the market for pasteurizers and homogenizers has been consistently rising in the Indian dairy processing equipment market. Australia and New Zealand are the major manufacturers and suppliers of dairy products in the world, importing equipment from Germany and the U.S.
This report includes a study of marketing and development strategies, along with the product portfolio of leading companies. It includes the profiles of leading dairy processing equipment companies such as GEA Group (Germany), The Krones Group (Germany), SPX Corporation (U.S.), Tetra Laval (Switzerland), Alfa Laval (Sweden), IMA Group (Italy), IDMC Limited (India), A&B Process Systems (U.S.), Feldmeir Equipment, Inc. (U.S.), and Scherjon Equipment Holland B.V. (The Netherlands).
In terms of insights, this research report has focused on various levels of analyses industry analysis, market share analysis of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging & high-growth segments of the global dairy processing equipment market, high-growth regions, countries, and their respective regulatory policies, government initiatives, drivers, restraints, and opportunities.
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