Dairy Processing Equipment Market worth $14.4 billion by 2028 - Exclusive Report by MarketsandMarkets™

CHICAGO, Dec. 20, 2023 /PRNewswire/ — The Dairy Processing Equipment Market valued at USD 10.7 billion in 2023, showcases a significant growth projection, anticipated to reach to USD 14.4 billion by 2028, indicating a steady compound annual growth rate (CAGR) of 6.2% from 2023 to 2028 according to a report published by MarketsandMarkets™. The growth of the dairy processing equipment market is significantly influenced by the adoption of automation and Industry 4.0 technologies. Integrating automated systems enhances production efficiency, streamlines processes, and reduces labor costs, leading to increased overall productivity. The implementation of Industry 4.0 principles introduces smart manufacturing, data analytics, and real-time monitoring, further optimizing the dairy processing workflow. This technological evolution not only improves operational efficiency but also ensures consistent product quality, meeting the ever-growing demand for dairy products globally.

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Simultaneously, the industry’s heightened focus on sustainable practices acts as a catalyst for market growth. Increasing environmental awareness and regulatory pressures prompt dairy processors to invest in modern, energy-efficient equipment. The shift towards sustainability aligns with consumer preferences and enhances the industry’s social responsibility, fostering innovation in equipment design and manufacturing. These dual trends of automation and sustainability contribute synergistically to the expansion of the dairy processing equipment market, addressing the evolving needs of the industry while promoting resource efficiency and responsible production practices.

The processed milk subsegment is expected to have the largest share during the forecast period.

Processed milk is poised to command the largest share in the dairy processing equipment market’s application segment, driven by various compelling factors. A fundamental contributor is the surging global demand for an array of processed milk products, encompassing pasteurized, UHT, and flavored milk. This demand surge is propelled not only by changing consumer lifestyles and preferences but also by an increasing awareness of the nutritional benefits and convenience associated with processed milk. Additionally, factors such as the burgeoning trend of health-conscious consumption, diverse product innovations in the dairy industry, and the globalization of food preferences contribute significantly to the dominance of processed milk. Dairy processors strategically invest in advanced processing equipment to not only meet this heightened demand efficiently but also to stay abreast of evolving quality standards and compliance requirements. The adaptability of dairy processing equipment proves instrumental in catering to this dynamic landscape, reinforcing its pivotal role in the flourishing dairy industry.

By mode of operation, automation holds the largest share of the dairy processing equipment market in 2023.

Automation offers unparalleled advantages, including enhanced production efficiency, precision in processing, and significant labor cost reductions. The increasing emphasis on stringent quality control and adherence to hygiene standards, especially in the wake of global health concerns, propels the adoption of automated dairy processing equipment. Additionally, advancements in technology, such as the integration of the Internet of Things (IoT) and artificial intelligence, contribute to the widespread adoption of automated systems. The need for seamless, error-free operations, improved traceability, and data-driven decision-making further underscore the significance of automated modes of operation in the dairy processing equipment market, making it the preferred choice for dairy processors seeking efficiency, reliability, and compliance with evolving industry standards.

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India is expected to account for the largest market share in 2023.

India’s prominence as the highest global milk producer, contributing 24% of the total milk production in 2021–22, positions it as a key player in the dairy processing equipment market. The remarkable 61% increase in milk production since 2015 underscores the sector’s robust growth. The top five milk-producing states, including Rajasthan, Uttar Pradesh, Madhya Pradesh, Gujarat, and Andhra Pradesh, collectively contribute over half of the country’s total milk production. India’s strategic position is further emphasized by its significant dairy product exports, reaching 67,572.99 MT worth USD 284.6 million in 2022-23, as per Invest India.

The burgeoning dairy industry demands substantial infrastructure investment, covering processing, chilling, logistics, and cattle feed. With lucrative opportunities in value-added dairy products, organic/farm-fresh milk, and exports, the Indian government encourages growth through initiatives like the Animal Husbandry Infrastructure Development Fund (AHIDF). This flagship scheme, offering a substantial fund around USD 19.1 million, provides financial support for establishing or expanding dairy processing units, emphasizing the importance of robust infrastructure. The scheme’s benefits, including a 3% interest subvention, a 2-year moratorium, and a credit guarantee of around USD 0.9 million, attract investments and solidify India’s leading position in the global dairy processing equipment market.

Major players operating in the dairy processing equipment market are 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).

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