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Rapid growth of dairy industry expected to fuel the demand for membrane filtration technology in the near future

Market overview

The global Membrane filtration market which is estimated to be valued at USD 12.66 Billion in 2018 is projected to be worth USD 17.34 Billion by 2023, growing at a CAGR of 6.5% during the forecast period from 2018 to 2023.

Based on the type, the reverse osmosis (RO) segment is predicted to hold the largest market share between 2018 and 2023 and is also likely to witness the highest growth. This growth can be contributed to its benefits such as effective elimination of harmful contaminants from water as well as minerals coupled with high efficiency in terms of water purification.

Among applications, the food & beverages segment is projected to grow at the highest CAGR over the forecast period, mainly driven by its effective functions, such as concentration and fractionation of skim milk and whey, bacteria removal and demineralization of whey, cheese purification and lactose reduction in milk, and enhancement of taste, color, and shelf-life of food products.

Based on module design, the tubular systems segment is estimated to grow at the highest CAGR over the forecast period, owing to its extensive use in water applications, since they are highly efficient in removing contaminants and producing high-quality processed water.

Geographical growth scenario of the market

The membrane filtration market in the Asia Pacific region is projected to witness the highest growth over the next five years, mainly driven by the factors, such as the increased usage of membrane filtration in water processing plants for purification and in dairy and other food industries for pasteurization, sterilization, and concentration processes. In addition, growing demand for dairy products, government support for membrane filtration technology in water purification, increased purchasing power of the middle-class group for premium products, and increasing consumption of functional foods are the other factors expected to boost the demand for membrane filtration technologies in this region. Among countries, China held the largest share of membrane filtration market, owing to the increasing usage of membrane filtration technologies for water purification. Moreover, the rising population in this country is driving the need for sustainable purification technologies for ensuring the supply of safe drinking water.

Factors driving and restraining the market growth

The growth of the global market for membrane filtration is being primarily influenced by the following factors:

  • Rapidly growing dairy industry
  • Regulations for water safety and filtration
  • Rising demand for high-quality and premium products
  • Emerging technologies in membrane filtration field
  • Efficiency offered by membrane filtration technologies

In addition, increasing incidences of waterborne diseases and growth potential in Asia and Middle Eastern markets are expected to offer lucrative growth opportunities for the market.

However, high cost of the initial set up of membrane filtration equipment is likely to hamper the growth of this market. Moreover, lack of awareness regarding the advantages of membrane filtration is a key challenge to be tackled by the players in this market.

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Key players and strategies implemented

Major players involved in the global market for membrane filtration include 3M Company (US), Pall Corporation (US), Dow Company (US), Koch Membrane System (US), Veolia Water Technologies (France), Suez Water Technologies & Solutions (France), Alfa Laval (Sweden), Fileder Filter Systems Ltd (UK), Prominent (Germany), ACWA Services (UK), Aquabio(UK), and Aquatech International (US). Expansions, new product & technology launches, acquisitions, and partnerships are the major strategies adopted by these companies to increase their market share as well as sustain their position in the market.

This post first appeared on MarketsandMarkets Blog - Market Research, please read the originial post: here

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Rapid growth of dairy industry expected to fuel the demand for membrane filtration technology in the near future


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