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Global dairy processing equipment market to reach USD 15.53 billion by 2029 at 6.2% CAGR

World 01.07.2024
Source: The DairyNews
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Exactitude Consultancy, the market research and consulting division of Ameliorate Digital Consultancy Private Limited, has finalized and published an extensive research report on the Dairy Processing Equipment Market. The global Dairy Processing Equipment Market is anticipated to grow at a compound annual growth rate (CAGR) of 6.2% from 2022 to 2029, increasing from USD 9.03 billion in 2020 to above USD 15.53 billion by 2029.
Global dairy processing equipment market to reach USD 15.53 billion by 2029 at 6.2% CAGR

The market's growth is driven by the rising demand for processed dairy products and a focus on sustainability. Changes in eating habits and a shift towards consuming cheese, cream, yogurt, and other dairy products are significant contributors to this demand surge. Additionally, the trend of balancing nutrition with taste and variety is propelling the industry's expansion. Factors such as declining raw material costs, an increasing number of dairy processing facilities, and a growing need for enhanced production capabilities are expected to further accelerate market growth during the forecast period.

Recent Developments:

In 2021, GEA launched a new generation of the DairyRobot R9500 and DairyProQ automatic milking systems, offering dairy farms increased availability, more milking sessions, and higher milk yields per day.

In 2021, SPX FLOW, a leading provider of process solutions for the nutrition, health, and industrial sectors, supplied its Ultra High Temperature (UHT) technology process lines to one of the Middle East’s leading dairy producers. SPX FLOW also provides valves, a homogenizer, a mixer, and components for plate heat exchangers.

Market Drivers:

  1. Growing Dairy Consumption: Rising global demand for dairy products, driven by population growth, urbanization, and changing dietary preferences, is increasing the need for advanced dairy processing equipment.

  2. Technological Advancements: Innovations in dairy processing technologies, including automation, energy-efficient systems, and advanced filtration techniques, are enhancing production efficiency and product quality.

  3. Health and Wellness Trends: Increasing consumer awareness about the nutritional benefits of dairy products is boosting the demand for processed dairy items, encouraging dairy processors to invest in state-of-the-art equipment.

  4. Expansion of Dairy Industry in Emerging Markets: Rapid industrialization and economic growth in emerging markets such as India, China, and Brazil are leading to increased investments in dairy processing infrastructure.

Market Challenges:

  1. High Initial Investment: The substantial capital required for purchasing and installing dairy processing equipment can be a barrier for small and medium-sized enterprises (SMEs).

  2. Stringent Regulations: Compliance with stringent food safety and quality regulations can be challenging and may require significant investments in advanced processing and monitoring equipment.

  3. Fluctuating Milk Prices: Volatility in raw milk prices can affect the profitability of dairy processors, impacting their ability to invest in new equipment.

Geographical Insights:

The Asia Pacific region is projected to be the fastest and largest-growing market for dairy processing equipment. Government policies in Japan and Korea encourage the growth and development of the dairy sectors. Flavored milk is gaining popularity in the region. India, being the world’s largest milk producer, has seen a steady increase in demand for pasteurizers and homogenizers in its dairy processing equipment industry.

July 2024
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