Report ID: SQSG20I2027
Report ID:
SQSG20I2027 |
Region:
Global |
Published Date: July, 2001
Pages:
264
|
Tables:
125 |
Figures:
76
Asia Pacific dominated the global dairy processing equipment market in 2022 and is expected to grow at a high CAGR during the forecast period. Favorable government policies are in place in Japan and Korea to assist the expansion and advancement of the dairy sectors. In Asia Pacific, flavoured milk has also been receiving widespread attention. The world's largest producer of milk is India. As a result, demand for pasteurizers and homogenizers has been growing steadily in the Indian market for dairy processing equipment. Throughout the projected period, it is anticipated that dairy consumption in China would continue to expand rapidly. Chinese dairy consumption will increase by almost 25%, from 55 million tonnes of liquid milk in 2021 to 71 million tonnes by 2030.
Due to the concentration of the majority of the leading players in this market in Europe is predicted to hold a sizeable portion of the global market for dairy processing equipment. In addition, the government's strict rules governing the processing of dairy products and the equipment used for those processes, together with quality requirements, will encourage the adoption of effective dairy equipment, thereby promoting market expansion. Furthermore, it is anticipated that the region's milk production will be encouraged by the Common Agriculture Policy's expropriation of milk quotas, which will increase demand for dairy processing equipment.
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REQUEST FREE CUSTOMIZATIONDairy Processing Equipment Market size was valued at USD 8.87 billion in 2019 and is poised to grow from USD 9.4 billion in 2023 to USD 15 billion by 2031, growing at a CAGR of 6% in the forecast period (2024-2031).
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Report ID: SQSG20I2027