by The global dairy processing equipment market is experiencing a significant surge, with revenues reaching approximately US$10 billion in 2021. The industrys growth is expected to continue its upward trajectory in the coming years, driven by various factors, including increased consumer interest in dairy-based products, rising consciousness regarding the nutritional profile of dairy products, and favorable government policies, particularly in the Asia Pacific region.
Increasing Consumer Interest in Dairy-based Products
Dairy processing equipment, such as homogenizers, pasteurizers, separators, evaporators, and more, plays a pivotal role in meeting the ever-evolving consumer expectations for dairy offerings. These equipment not only cater to traditional dairy production but also find applications in non-dairy products like salad dressings, sauces, soups, and fruit juices. As consumers seek unique and health-focused dairy products, including organic, low-fat, and nutrient-fortified options, the demand for sophisticated dairy processing equipment is on the rise.
Rising Consciousness Regarding Nutritional Profile of Dairy Products
The growing health consciousness among consumers has led to an increased demand for processed dairy products such as skim milk and low-fat yogurts. Additionally, the demand for functional foods, infant nutritional products, nutraceuticals, and sports nutrition products fortified with milk powders and whey protein concentrates is driving the market forward. The Tetra Pak Global dairy index predicts a 36% increase in the consumption of dairy products, including milk, cheese, and butter, from 2014 to 2024, with major emerging economies like India, China, and South American nations contributing significantly to this growth.
Dairy Processing Equipment Market Rises High as Processed Dairy Sees Thriving Popularity
Processed dairy products are gaining popularity worldwide, as consumers increasingly recognize the health benefits of dairy consumption. China, in particular, is expected to witness strong growth in dairy consumption, further bolstering the demand for dairy processing equipment. The increase in the international trade of dairy products will also play a pivotal role in the markets growth.
Rising Income to Drive Growth for Dairy Processing Equipment
Processed milk remains a dominant segment, with demand expected to grow significantly, especially in countries like India and Pakistan, driven by rising incomes and population levels. Pasteurized and ultra-pasteurized milk categories are key contributors to the dairy processing equipment market.
Favourable Government Policies Account for a Strong Dairy Processing Equipment Market in Asia Pacific
The Asia Pacific region is the largest user of dairy processing equipment and is poised for rapid growth, supported by favorable government policies in countries like Japan and Korea. The popularity of flavored milk and traditional dairy-based drinks, as well as the export-import dynamics in the region, are driving equipment demand.
Global Dairy Processing Equipment Market: Competitive Landscape
Key players in the dairy processing equipment market, including Alfa Laval, GEA Group, IMA Industria Macchine Automatiche SPA, and others, are continuously innovating and expanding their presence to meet the growing industry demands.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/dairy-processing-equipment-market
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This press release first seen on Brilad
COMTEX_442320068/2840/2023-10-23T08:21:18
Julian Lopez is professor emeritus of finance, served as the founding academic affairs dean and founding chair of the finance department.
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