Global Milk Tank Cooling System Market is expected to grow with a year-on-year growth of 3.2% in 2022
The thriving trend of automated milk tank cooling systems will particularly shape the global milk tank cooling system market, as suggested by a new Future Market Insights (FMI) study. Projected to grow at a moderate CAGR between 2019 and 2029, demand for milk tank cooling systems will reach revenues in excess of US$ 820 Mn by the end of 2029. Growing necessity of raw milk storage for longer continues to push milk tank cooling system sales at a global level.
The consistent increase in demand for continuous refrigeration systems during perishable food chain transport would continue to be the primary factor driving demand for milk tank cooling systems in the coming years.
The growing number of milk farms and processing plants is expected to drive up demand for milk tank cooling systems in the coming years. Milk tank cooling systems are an essential part of the milk transfer chain because milk must be stored with efficient cooling and transported to and from remote and urban areas. Milk consumption is high in countries such as India, Thailand, Indonesia, and Malaysia, so the market is expected to grow in the coming years.
Key Takeaways – Milk Tank Cooling System Market Study
- Milk tank cooling systems play a vital role in the transportation of milk as the time lapse between milk collection and reaching the designated centre could result in milk spoilage.
- As a result of the flourishing dairy business, small- and medium-sized milk farms have been incorporated into the business structure of dairy cooperatives and other big farms. This led to fluctuations in milk tank cooling system market, as small- and medium-sized players have slowly been wiped out.
- Closed type in milk tank cooling systems is given preference, as these systems are integrated with self-cleaning and automatic temperature maintenance provisions as per the cooling stage. This has slowly led to decline in demand for open end type of milk tank cooling systems, which require manual labour for cleaning and constant supervision.
- In terms of capacity, milk tank cooling systems within 1,000 litre capacity are widely used owing to the ease of usage and operation. As compared to the higher capacity tanks, there are less indoor/outdoor placement issues as these require reduced space.
Milk Tank Cooling System Market: Competition Overview
The global milk tank cooling system market is highly competitive, with the presence of large number of small- and medium-sized players actively operating in the global market. Danfoss, GEA Group AG, Paul Mueller, Denso, and Packo Cooling are identified as prominent players in the global milk tank cooling system market. Adoption of automated milk tank cooling systems and association of local milk farms with dairy co-operatives are key growth strategies adopted by market participants.
What Is Covered in the Report?
The research scope of the global milk tank cooling system market has been primarily bifurcated into three segments: application, configuration and capacity. The study provides an in-depth analysis of market sizing, forecasting, and market share analysis for milk tank cooling system. The report delivers a comprehensive assessment of the important dynamics of the milk tank cooling system market. The scope of the research includes milk tank cooling systems installed in milk farms and milk processing plants.
Access full report: https://www.futuremarketinsights.com/reports/milk-tank-cooling-system-market