Dairy Processing Equipment Market Research Report 2020 Updates
The COVID-19 outbreak is likely to hinder the growth of the market during the global pandemic. The reduction in production capacities and trade of non-essential products including machinery and equipment will affect the market negatively. The strict government norms concerning the distribution of products will limit the scope for dairy products such as processed milk, protein ingredients, and milk powders. Similarly, the lockdown in several countries will inhibit the production and distribution of dairy products, which in turn, will aggravate the market in the foreseeable future. However, the shift from meat-based to dairy-based protein products will unequivocally profit the dairy industry amid coronavirus, in turn, stimulating the growth of the market.
The market in Asia Pacific generated a revenue of USD 3.68 billion and is likely to witness an exponential growth during the forecast period owing to the growing consumption of milk and milk-related products in the developing nations. India is one of the largest producers of raw milk. The growing disposable income and changing consumer preference are factors that will foster the growth of the market in the region. The rising production and processing of dairy products will subsequently boost development in Asia Pacific. The rising production and exportation activities in Australia will contribute to growth in the region. In addition, the growing population will have a positive influence on the market in the forthcoming years. In addition, the growing health-conscious consumers will spur opportunities for the market in the region.
The Report lists the Main the Companies in the Dairy Processing Equipment Market:
• GEA Group Aktiengesellschaft (Germany)
• JBT Corporation (United States)
• SPX Flow Inc. (United States)
• Alfa Laval (Sweden)
• Krones AG (Germany)
• Paul Mueller Company (United States)
• Tetra Pak International SA (Switzerland)
• IMA Group (Italy)
• Feldmeier Equipment INC. (United States)
• Scherjon Dairy Equipment Holland B.V. (The Netherlands)
• Caloris Engineering LLC (United States)
Key Industry Development:
June 2019: JBT Corporation, a food processing machinery company based in the US announced the acquisition of Prime Equipment Group, a developer and manufacturer of food processing automation for USD 65 million.
April 2019: Caloris Engineering LLC announced the acquisition of Seitz Stainless, which is an equipment fabricator. This was a strategic decision made by the company to add in-house manufacturing of its products.
The rising demand for organic ultra-filtered toned milk will have a positive impact on the market. The growing health-conscious consumers will influence the healthy growth of the market during the forecast period. The increasing demand for low fat, low sugar, and cholesterol-free milk products will significantly accelerate the growth of the market. The advent of innovative organic milk products will aid in the expansion of the market. The growing population along with the rising income of people will provide impetus to the market. Moreover, the increasing advancement in milk processing machines and equipment will generate hefty revenue for the market during the forecast period.