The global dairy processing equipment market is anticipated to grow at a CAGR of around 5.3% during the forecast period (2021-2027). The factor augmenting the growth of the market include escalating demands for processed dairy products, increasing consumption of milk due to high nutrition values, and rising developments in a variety of dairy products along with nutrition and cost value. According to the Indian Council of Food and Agriculture, in 2018, India accounted for 13% of the World’s total milk production, 279.4 million tonnes of dairy products production, and 115.4 million tonnes of dairy products consumption. Additionally, according to the Food and Agriculture Organization of the United Nations, world milk production is projected to increase by 177.0 million tonnes by 2025, at an average growth rate of 1.8% per annum in the next 10 years. Over the same period, per capita consumption of dairy products is projected to increase by 0.8% and 1.7% per year in developing countries, and between 0.5% and 1.1% in developed economies. This will increase the automation in dairy products production, which in turn, further accelerates the market growth.
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Moreover, key market players are also contributing to the growth of the market by adopting strategies such as partnership collaborations, and mergers and acquisitions. For instance, in October 2019, Saputo Inc. completed the acquisition of the specialty cheese business of Lion Dairy & Drinks Pty Ltd for $280 million. This acquisition enabled Saputo’s Dairy Division (Australia) to further diversify its product offering, adding to and complementing its current activities. However, the recurring cost of energy and power in the dairy processing industry is still a matter of concern, market players are also investing high in R&D activities to lower the cost of the raw material. Further advancement in high-pressure processing techniques can be expected to offer lucrative opportunities in the global dairy processing equipment market.
Market Coverage
o By Type
o By Application
o North America
o Europe
o Asia-Pacific
o Rest of the World
Key questions addressed by the report
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
Global Dairy Processing Equipment Market Report Segment
By Type
By Application
Global Dairy Processing Equipment Market Report by Region
North America
Europe
Asia-Pacific
Rest of the World
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