Dairy Machinery Market

The global dairy machinery market is projected to experience a steady increase in both consumption and production levels over the next eight years. Market performance is expected to grow at a CAGR of +1.4% in terms of volume and +4.9% in terms of value from 2022 to 2030. In 2022, consumption of dairy machinery saw a significant rise, reaching 1.5M units, marking an end to a two-year declining trend. The United States remains the largest consumer in the market, with countries like China, India, and Turkey showing significant growth rates in terms of consumption. Production of dairy machinery decreased slightly in 2022 after four years of growth, reaching 645K units. The United States emerged as the key importer, with Canada also showing positive import growth rates. Export volumes saw a slight increase in 2022, with China and India leading the pack. Denmark, Italy, and Germany were the biggest exporters in terms of value. Prices for dairy machinery imports and exports varied significantly among countries, with Denmark commanding the highest export price and Canada the highest import price.

Market Forecast

Driven by increasing demand for dairy machinery worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +1.4% for the period from 2022 to 2030, which is projected to bring the market volume to 1.7M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.9% for the period from 2022 to 2030, which is projected to bring the market value to $4.3B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Dairy Machinery

In 2022, consumption of dairy machinery was finally on the rise to reach 1.5M units for the first time since 2019, thus ending a two-year declining trend. Overall, consumption showed a strong expansion. As a result, consumption reached the peak volume and is likely to continue growth in the immediate term.

The global dairy machinery market value amounted to $2.9B in 2022, increasing by 6.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +46.4% against 2016 indices. Global consumption peaked in 2022 and is expected to retain growth in the near future.

Consumption By Country

The United States (683K units) remains the largest dairy machinery consuming country worldwide, comprising approx. 45% of total volume. Moreover, dairy machinery consumption in the United States exceeded the figures recorded by the second-largest consumer, Canada (209K units), threefold. The third position in this ranking was taken by Turkey (163K units), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in the United States stood at +11.9%. The remaining consuming countries recorded the following average annual rates of consumption growth: Canada (+15.6% per year) and Turkey (+12.5% per year).

In value terms, Turkey ($626M) led the market, alone. The second position in the ranking was taken by China ($173M). It was followed by India.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey amounted to +12.5%. In the other countries, the average annual rates were as follows: China (+4.3% per year) and India (+5.1% per year).

In 2022, the highest levels of dairy machinery per capita consumption was registered in Canada (5.4 units per million persons), followed by Australia (2.2 units per million persons), the United States (2 units per million persons) and Turkey (1.9 units per million persons), while the world average per capita consumption of dairy machinery was estimated at 0.2 units per million persons.

From 2012 to 2022, the average annual rate of growth in terms of the dairy machinery per capita consumption in Canada amounted to +14.3%. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Australia (+0.2% per year) and the United States (+11.2% per year).

Production

World Production of Dairy Machinery

After four years of growth, production of dairy machinery decreased by -0.4% to 645K units in 2022. Overall, the total production indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when the production volume increased by 30%. Over the period under review, global production reached the maximum volume at 647K units in 2021, and then dropped modestly in the following year.

In value terms, dairy machinery production declined to $2.7B in 2022 estimated in export price. In general, the total production indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -19.1% against 2019 indices. The pace of growth appeared the most rapid in 2017 when the production volume increased by 31%. Global production peaked at $3.3B in 2019; however, from 2020 to 2022, production failed to regain momentum.

Production By Country

The countries with the highest volumes of production in 2022 were Turkey (164K units), China (101K units) and Australia (61K units), with a combined 51% share of global production. India, Russia, Japan, Germany, Brazil, Indonesia, France, the United Arab Emirates and Mexico lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by the United Arab Emirates (with a CAGR of +36.8%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Dairy Machinery

In 2022, overseas purchases of dairy machinery were finally on the rise to reach 946K units after two years of decline. In general, imports enjoyed a strong increase. The pace of growth was the most pronounced in 2013 with an increase of 73% against the previous year. Global imports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, dairy machinery imports reached $614M in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by 18%. As a result, imports attained the peak of $735M. From 2018 to 2022, the growth of global imports failed to regain momentum.

Imports By Country

The United States was the key importing country with an import of about 685K units, which resulted at 72% of total imports. It was distantly followed by Canada (209K units), comprising a 22% share of total imports.

Imports into the United States increased at an average annual rate of +11.8% from 2012 to 2022. At the same time, Canada (+15.6%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in the world, with a CAGR of +15.6% from 2012-2022. While the share of Canada (+6.3 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest dairy machinery importing markets worldwide were the United States ($24M) and Canada ($12M).

In terms of the main importing countries, the United States, with a CAGR of +6.8%, recorded the highest growth rate of the value of imports, over the period under review.

Import Prices By Country

In 2022, the average dairy machinery import price amounted to $649 per unit, shrinking by -40.7% against the previous year. Overall, the import price faced a abrupt decrease. The most prominent rate of growth was recorded in 2020 when the average import price increased by 42% against the previous year. Global import price peaked at $2,112 per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Canada ($58 per unit), while the United States stood at $35 per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (-4.4%).

Exports

World Exports of Dairy Machinery

Global dairy machinery exports totaled 78K units in 2022, with an increase of 2.3% on the previous year. The total export volume increased at an average annual rate of +1.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 with an increase of 35%. The global exports peaked at 87K units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, dairy machinery exports shrank remarkably to $535M in 2022. Overall, exports, however, recorded a slight curtailment. The most prominent rate of growth was recorded in 2017 when exports increased by 15% against the previous year. The global exports peaked at $698M in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports By Country

In 2022, China (22K units) and India (15K units) were the largest exporters of dairy machineryacross the globe, together recording near 46% of total exports. The following exporters - Russia (3.3K units), Australia (3.3K units), Germany (3.1K units), Italy (2.7K units), the Netherlands (2.7K units), Poland (2.2K units), Sweden (2K units), Malaysia (2K units), Denmark (1.9K units), Spain (1.8K units) and France (1.8K units) - together made up 34% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Malaysia (with a CAGR of +42.8%), while the other global leaders experienced more modest paces of growth.

In value terms, Denmark ($60M), Italy ($55M) and Germany ($47M) were the countries with the highest levels of exports in 2022, together accounting for 30% of global exports. Poland, the Netherlands, Sweden, France, Spain, India, Russia, China, Australia and Malaysia lagged somewhat behind, together comprising a further 35%.

In terms of the main exporting countries, India, with a CAGR of +6.8%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average dairy machinery export price amounted to $6,825 per unit, declining by -22.3% against the previous year. In general, the export price recorded a pronounced reduction. The pace of growth appeared the most rapid in 2014 an increase of 31% against the previous year. As a result, the export price reached the peak level of $12,866 per unit. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Denmark ($31,102 per unit), while Malaysia ($248 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+9.5%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform