India: Dairy Machinery Market 2024

Dairy Machinery Market Size in India

The Indian dairy machinery market expanded modestly to $X in 2022, rising by 3.5% against the previous year. Overall, consumption, however, recorded strong growth. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Dairy Machinery Production in India

In value terms, dairy machinery production expanded remarkably to $X in 2022 estimated in export price. In general, production enjoyed a buoyant increase. The pace of growth was the most pronounced in 2020 with an increase of 32%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Dairy Machinery Exports

Exports from India

After two years of decline, overseas shipments of dairy machinery increased by 112% to X units in 2022. Overall, exports enjoyed a prominent increase. The pace of growth appeared the most rapid in 2019 with an increase of 125%. As a result, the exports reached the peak of X units. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, dairy machinery exports soared to $X in 2022. Over the period under review, exports posted strong growth. The pace of growth was the most pronounced in 2019 with an increase of 139%. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Nepal (X units), the United Arab Emirates (X units) and Kenya (X units) were the main destinations of dairy machinery exports from India, with a combined 56% share of total exports. Tanzania, Madagascar, Mozambique, Saudi Arabia, Malaysia, South Africa, Vietnam, Bangladesh, Sri Lanka and Australia lagged somewhat behind, together comprising a further 32%.

From 2012 to 2022, the biggest increases were recorded for Madagascar (with a CAGR of +79.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Nepal ($X), Kenya ($X) and Tanzania ($X) constituted the largest markets for dairy machinery exported from India worldwide, together accounting for 56% of total exports.

In terms of the main countries of destination, Kenya, with a CAGR of +78.9%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average dairy machinery export price amounted to $X per unit, which is down by -21.7% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 71%. As a result, the export price attained the peak level of $X per unit, and then reduced remarkably in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($X per unit), while the average price for exports to the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+10.5%), while the prices for the other major destinations experienced more modest paces of growth.

Dairy Machinery Imports

Imports into India

In 2022, dairy machinery imports into India shrank dramatically to X units, reducing by -41.5% on 2021 figures. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 174%. As a result, imports reached the peak of X units. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, dairy machinery imports reduced rapidly to $X in 2022. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when imports increased by 174% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Italy (X units), Germany (X units) and Sweden (X units) were the main suppliers of dairy machinery imports to India, with a combined 67% share of total imports. France, Turkey, Denmark, China, Australia, Finland and the UK lagged somewhat behind, together accounting for a further 23%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +39.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Germany ($X) and Sweden ($X) appeared to be the largest dairy machinery suppliers to India, together accounting for 67% of total imports. France, Turkey, Denmark, China, Australia, Finland and the UK lagged somewhat behind, together accounting for a further 23%.

Turkey, with a CAGR of +39.0%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average dairy machinery import price stood at $X per unit in 2022, dropping by -7.3% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 17% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2021, and then dropped in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Finland ($X per unit) and the UK ($X per unit), while the price for Australia ($X per unit) and France ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+1.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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