Milk Tank Cooling System Market
Milk Tank Cooling System Market Forecasts to 2030 - Global Analysis By Type (Ice Bank Tank, Direct Expansion System Tank and Other Types), Configuration (Closed End and Open End), Capacity, Cleaning Type, Application, End User and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $673.23 MN |
|
Projected Year Value (2030) |
US $872.45 MN |
|
CAGR (2023 - 2030) |
4.5% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
Europe |
According to Stratistics MRC, the Global Milk Tank Cooling System Market is accounted for $673.23 million in 2023 and is expected to reach $872.45 million by 2030 growing at a CAGR of 4.5% during the forecast period. A milk tank cooling system is a vital component of dairy farms and processing facilities. Its primary function is to rapidly cool and store raw milk after it has been collected from the dairy cows. This helps to preserve the freshness and quality of the milk until it is ready for further processing or distribution. The primary purpose of a milk tank cooling system is to quickly lower the temperature of milk to inhibit bacterial growth. This ensures that the milk remains fresh and safe for consumption.
According to India’s National Dairy Development Board (NDDB), demand for around 266.5 million metric tons of dairy products is likely in 2030.
Market Dynamics:
Driver:
Global increase in milk production
The exponential increase in milk output is presently driving up the need for milk tank cooling systems. To meet the needs of the expanding population, production volume is rising along with global population growth. To prevent contamination, the milk must be chilled both before and after processing. In milk farms or places where raw milk is collected, these systems are becoming more widely used. These cooling devices are increasingly being used in milk transportation due to the increasing number of remote milk collection stations. The rise of milk tank cooling systems should be further aided by a rise in milk export volume.
Restraint:
Diversification challenges
The market for milk tank cooling systems is severely restricted by diversification issues, particularly in areas with a well-established dairy industry. Due to the market being saturated with existing milk tank cooling systems and the lack of potential clients for product portfolio expansion, this constraint exists. The market for milk tank cooling systems is distinguished by a high level of product uniformity, with the majority of systems providing comparable functionality and features. Manufacturers seeking to expand their product offerings may face difficulties due to the limited potential for product differentiation.
Opportunity:
Increasing demand for quality milk
Demand for pure milk is growing with time, as people are becoming more conscious regarding their health. Consumers prefer pure milk instead of any mixture resulting from added preservatives. Milk handling activities related to preservation determine the hygienic value of fresh milk. Maintaining the hygiene of milk is important for the manufacturer of high-quality dairy products, leading to taste and flavor retention and long-term quality. This factor makes the installation of milk tank cooling systems essential for the preservation of milk which is thereby propelling the demand.
Threat:
Availability of numerous dairy players
The milk tank cooling system market may see market saturation, particularly in areas with developed dairy businesses. This problem happens when there is little chance for future growth or expansion and a sizable number of the potential clients, such as dairy producers, already have adequate milk tank cooling systems in place. If such systems are already in place, dairy producers might not feel the immediate need to invest in new equipment unless their current ones become old, unsuccessful, or need to be changed due to wear and tear. This factors hampers the market growth.
Covid-19 Impact
The COVID-19 pandemic has halted the manufacturing of a number of products in the worldwide milk tank cooling system market, primarily as a result of the extended state of emergency in several developed nations. This has considerably slowed the growth of the market for milk tank cooling systems worldwide. The pandemic highlighted the importance of food security. Ensuring the proper functioning of critical equipment like Milk Tank Cooling Systems became a priority to prevent food waste and maintain a stable supply of dairy products.
The 1000 to 5000 litre segment is expected to be the largest during the forecast period
The 1000 to 5000 litre segment is estimated to have a lucrative growth. Milk tank cooling systems with capacities ranging from 1000 to 5000 liters are crucial for dairy farms and processing facilities. These systems typically have a storage capacity ranging from 1000 to 5000 litres, making them suitable for small to medium-sized dairy operations. These capacity tanks cater to a range of dairy farm sizes, allowing for scalability based on production needs. The rising small scale dairy farms are fuelling the segment growth.
The milk processing unit segment is expected to have the highest CAGR during the forecast period
The milk processing unit segment is anticipated to witness the fastest CAGR growth during the forecast period. Milk tank cooling systems play a critical role in milk processing units by maintaining the freshness and quality of raw milk as it moves through various stages of processing. They are used to quickly lower the temperature of the incoming milk to the desired storage temperature, typically around 4°C (39°F). In a milk processing unit, the effective use of milk tank cooling systems is essential for maintaining product quality, safety, and compliance with regulatory standards. It minimizes the risk of spoilage and contamination.
Region with largest share:
Asia Pacific is projected to hold the largest market share during the forecast period. Agriculture in the Asia Pacific region is heavily influenced by environmental and sustainability issues. In order to employ environmentally friendly refrigerants and consume less water during the cooling process, milk tank cooling systems are becoming more common. Moreover, as part of their overall agricultural policy, certain Asian countries are providing farmers with financial incentives or subsidies to make investments in energy-efficient and environmentally friendly milk tank cooling systems.
Region with highest CAGR:
Europe is projected to have the highest CAGR over the forecast period. European dairy farmers are well-known for using cutting-edge technologies and farming methods. The region's milk tank cooling systems frequently include cutting-edge components including automatic temperature monitoring and control, energy-efficient cooling mechanisms, and remote monitoring capabilities. Additionally, for dairy products, especially milk, European nations have stringent laws and quality standards. To guarantee the secure and superior storage of milk, milk tank cooling systems must meet these requirements. Hence, specific temperature requirements for milk storage are frequently specified by these laws.
Key players in the market
Some of the key players profiled in the Milk Tank Cooling System Market include Danfoss, GEA Group AG, Dairymaster, Serap Group, Wedholms AB, RØ-KA Indutries A/S, Milkplan, Delaval, Packo Cooling, Fabdec Ltd, Boumatic, Daviesway Pty Ltd., Bel Brands, Marcold Ltd, Wedholms AB, Mueller, Metodika AB, Fullwood Packo SAS, Kilkenny Cooling Systems and Airtech Cooling Process Pvt. Ltd.
Key Developments:
In September 2021, Wedholms, a dairy equipment manufacturer based in Sweden launched a CO2 milk-cooling tank. The CO2 used by the tank is a product of recycling from industrial processes. The tank also offers significant energy savings compared to conventional solutions.
In August 2021, Bel Brands USA announced a collaboration with the Dairy Farmers of America (DFA) for launching a sustainable dairy cooling programme. The aim of the collaboration was to keep greenhouse gas emissions in check.
Types Covered:
• Ice Bank Tank
• Direct Expansion System Tank
• Other Types
Configurations Covered:
• Closed End
• Open End
Capacities Covered:
• Less Than 1000 Litres
• 1000 to 5000 Litres
• 5000 to 10000 Litres
• Above 10000 Litres
Cleaning Types Covered:
• In-plant
• In-farm
• Other Cleaning types
Applications Covered:
• Milk Processing Unit
• Milk Farm
• Other Applications
End Users Covered:
• Food
• Cold storage
• FMCG
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Milk Tank Cooling System Market, By Type
5.1 Introduction
5.2 Ice Bank Tank
5.3 Direct Expansion System Tank
5.4 Other Types
6 Global Milk Tank Cooling System Market, By Configuration
6.1 Introduction
6.2 Closed End
6.2.1 Vertical
6.2.2 Horizontal
6.3 Open End
7 Global Milk Tank Cooling System Market, By Capacity
7.1 Introduction
7.2 Less Than 1000 Litres
7.3 1000 to 5000 Litres
7.4 5000 to 10000 Litres
7.5 Above 10000 Litres
8 Global Milk Tank Cooling System Market, By Cleaning Type
8.1 Introduction
8.2 In-plant
8.3 In-farm
8.4 Other Cleaning types
9 Global Milk Tank Cooling System Market, By Application
9.1 Introduction
9.2 Milk Processing Unit
9.3 Milk Farm
9.4 Other Applications
10 Global Milk Tank Cooling System Market, By End User
10.1 Introduction
10.2 Food
10.3 Cold storage
10.4 FMCG
10.5 Other End Users
11 Global Milk Tank Cooling System Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 Danfoss
13.2 GEA Group AG
13.3 Dairymaster
13.4 Serap Group
13.5 Wedholms AB
13.6 RØ-KA Indutries A/S
13.7 Milkplan
13.8 Delaval
13.9 Packo Cooling
13.10 Fabdec Ltd
13.11 Boumatic
13.12 Daviesway Pty Ltd.
13.13 Bel Brands
13.14 Marcold Ltd
13.15 Wedholms AB
13.16 Mueller
13.17 Metodika AB
13.18 Fullwood Packo SAS
13.19 Kilkenny Cooling Systems
13.20 Airtech Cooling Process Pvt. Ltd
List of Tables
1 Global Milk Tank Cooling System Market Outlook, By Region (2021-2030) ($MN)
2 Global Milk Tank Cooling System Market Outlook, By Type (2021-2030) ($MN)
3 Global Milk Tank Cooling System Market Outlook, By Ice Bank Tank (2021-2030) ($MN)
4 Global Milk Tank Cooling System Market Outlook, By Direct Expansion System Tank (2021-2030) ($MN)
5 Global Milk Tank Cooling System Market Outlook, By Other Types (2021-2030) ($MN)
6 Global Milk Tank Cooling System Market Outlook, By Configuration (2021-2030) ($MN)
7 Global Milk Tank Cooling System Market Outlook, By Closed End (2021-2030) ($MN)
8 Global Milk Tank Cooling System Market Outlook, By Vertical (2021-2030) ($MN)
9 Global Milk Tank Cooling System Market Outlook, By Horizontal (2021-2030) ($MN)
10 Global Milk Tank Cooling System Market Outlook, By Open End (2021-2030) ($MN)
11 Global Milk Tank Cooling System Market Outlook, By Capacity (2021-2030) ($MN)
12 Global Milk Tank Cooling System Market Outlook, By Less Than 1000 Litres (2021-2030) ($MN)
13 Global Milk Tank Cooling System Market Outlook, By 1000 to 5000 Litres (2021-2030) ($MN)
14 Global Milk Tank Cooling System Market Outlook, By 5000 to 10000 Litres (2021-2030) ($MN)
15 Global Milk Tank Cooling System Market Outlook, By Above 10000 Litres (2021-2030) ($MN)
16 Global Milk Tank Cooling System Market Outlook, By Cleaning Type (2021-2030) ($MN)
17 Global Milk Tank Cooling System Market Outlook, By In-plant (2021-2030) ($MN)
18 Global Milk Tank Cooling System Market Outlook, By In-farm (2021-2030) ($MN)
19 Global Milk Tank Cooling System Market Outlook, By Other Cleaning types (2021-2030) ($MN)
20 Global Milk Tank Cooling System Market Outlook, By Application (2021-2030) ($MN)
21 Global Milk Tank Cooling System Market Outlook, By Milk Processing Unit (2021-2030) ($MN)
22 Global Milk Tank Cooling System Market Outlook, By Milk Farm (2021-2030) ($MN)
23 Global Milk Tank Cooling System Market Outlook, By Other Applications (2021-2030) ($MN)
24 Global Milk Tank Cooling System Market Outlook, By End User (2021-2030) ($MN)
25 Global Milk Tank Cooling System Market Outlook, By Food (2021-2030) ($MN)
26 Global Milk Tank Cooling System Market Outlook, By Cold storage (2021-2030) ($MN)
27 Global Milk Tank Cooling System Market Outlook, By FMCG (2021-2030) ($MN)
28 Global Milk Tank Cooling System Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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