Global Dairy Processing Equipment Market to Languish During Global Pandemic


Posted June 17, 2020 by Aashi_K

Low Production Amid Coronavirus to Disturb Industry, states Fortune Business Insights™

 
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

The global dairy processing equipment market size is expected to reach USD 13.67 billion by 2027, exhibiting a CAGR of 5.4% during the forecast period. The escalating need for processed dairy products such as cheese, butter, milk, and cream will spur opportunities for the market during the forecast period, states Fortune Business Insights in a report, titled “Dairy Processing Equipment Market Size, Share & COVID-19 Impact Analysis, By Type (Pasteurizers, Homogenizers, Separators, Evaporators & Drying Equipment, Membrane Filtration Equipment & Others), By Application (Processed Milk, Cream, Milk Powders, Cheese, Protein Ingredient & Others) and Regional Forecast, 2020-2027” the market size stood at USD 9.70 billion in 2019. The rising shift in consumer preference will subsequently foster the growth of the market in the forthcoming years.

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)

Economic Slowdown and Outbreak of COVID-19 is Expected to Hinder the Market Growth

As per the secondary sources, the recent outbreak of COVID-19 is anticipated to hamper to market growth over coming years by more than 12%. Governments have reduced the global trade of non-essential products such as processed products limiting the market for the production milk, protein ingredients, and milk powders, thus limiting the sale of other dairy processed products. Owing to the increasing spread of COVID-19, governments are imposing stringent lockdowns in countries, which is slowing the overall economic conditions and production capacities. This has impacted the new purchase decisions of organizations, thus hampering this type of equipment market.

Key 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.

About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients.

We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
-- END ---
Share Facebook Twitter
Print Friendly and PDF DisclaimerReport Abuse
Contact Email [email protected]
Issued By Fortune Business Insights™
Phone US +1 424 253 0390
Country United States
Categories Business , News , Reports
Tags research , equipments , market , manufacturing , industry , Consumer , dairy industry
Last Updated June 17, 2020