Growth opportunities and latent adjacency in UHT Processing Market
Increase in the consumption of UHT (ultra-high temperature) treated products globally, along with rise in awareness about the benefits of the products, in regions having low refrigeration spaces has highly aided the growth of the global UHT processing market. Additionally, UHT treatment is being widely expanded to cover an extensive range of liquid and semi-liquid products, which has enabled its market to grow over the past few years. The UHT processing market is projected to reach USD 4.71 billion by 2022, from USD 2.57 billion in 2017, at a CAGR of 12.87% during the forecast period.
On the basis of mode of equipment operation, the indirect UHT processing segment found favor among the populace, resulting in a market share of about 85.02% in 2016. This can be majorly attributed to the limited usage of direct UHT processing equipment, as it remains a costlier option in comparison to indirect UHT processing equipment. However, with a small number of direct UHT processing equipment being currently used in the market, this segment is expected to grow at a relatively higher CAGR during the forecast period.
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Based on application, the milk segment dominated the UHT processing market. This is majorly attributed to an increasing demand for UHT treated milk globally, which aided the increased adoption of UHT plants. Most developing countries, such as India and China, and countries having warmer temperatures such as South Africa, have been the key adopters of UHT treated products, owing to a limited availability of refrigerated spaces. Such UHT treated products have also picked up pace in rural and remote areas, where the storage of food for long durations becomes imperative. Such factors made the segment the fastest-growing one, among all applications for the UHT processing market.
On the basis of the end-product form, the UHT processing market was dominated by the liquid segment. However, the market for the semi-liquid UHT processing segment is expected to grow at a comparatively higher CAGR during the forecast period, owing to a rising foray of UHT treatment for products with discrete particles such as fruit juices, soups, and condensed milk.
Asia Pacific is projected to be the fastest-growing region in the UHT processing market, during the forecast period, owing to a large adoption of UHT treated products in the region, for their longer sustainability in comparison to untreated products. Additionally, the market for UHT processing is also expected to witness growth in countries of Australia & New Zealand, due to the increase in the number of export activities.
Companies in the UHT processing market including Tetra Laval International (Switzerland), SPX Flow (US), GEA Group (Germany), Alfa Laval (Sweden), Elecster (Finland), Shanghai Triowin Intelligent Machinery (China), MicoThermics (US), Reda (Italy), Shanghai Jimei Food Machinery (China), TESSA I.E.C. Group (China), Stephan Machinery (Germany), and Goma Engineering (India) are the key equipment providers in the UHT processing market.