Technavio analysts forecast the global homogenizers market to grow at a CAGR of over 5% during the forecast period, according to their latest report.
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Technavio has published a new report on the global homogenizers market from 2017-2021. (Graphic: Business Wire)
The research study covers the present scenario and growth prospects of the global homogenizers market for 2017-2021. To calculate the market size, the report considers the sales generated through ultrasonic, mechanical, and pressure homogenizers.
The global homogenizer market is driven by the growing demand for homogenizers in pharmaceutical companies and the growing food and beverage industry globally, especially in countries in APAC. The homogenization process forms a critical aspect of these industries, and several governments are allowing foreign direct investment (FDI) to come in through the setting up of manufacturing plants and SEZs.
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Technavio analysts highlight the following three factors that are contributing to the growth of the global homogenizers market:
- Growth of pharmaceutical industry
- Emerging markets in APAC
- Reforms in milk production in the European Union
Growth of pharmaceutical industry
The global pharmaceutical industry has been driven by the demand for pharmaceutical products, which is in step with growth in the world’s population. In 2010, the global population count was about 6.9 billion, which is expected to rise to 7.6 billion by 2020. With current trends such as global warming, environmental pollution, and erratic eating habits of people, large sections of the population may suffer from health problems such as the risk of developing heart diseases, diabetes, and cancer.
Amber Chourasia, a lead lab equipment research analyst at Technavio, says, “A critical aspect of the manufacturing of pharmaceutical drugs involves homogenization, as it helps in the reduction of particle sizes of pharmaceutical products. Homogenizers reduce the particle size and uniformity under conditions of extreme pressure and stress.”
Emerging markets in APAC
The rapid expansion of several R&D facilities can be seen in many developing economies, such as China and India. These countries are experiencing high growth rates, creating huge growth potential for the homogenizer equipment market. Rapidly growing process industries, such as the food and beverage industry, will drive the demand for these products during the forecast period.
“Investments from private investors will have a positive impact on the growth of the market. The increasing migration of R&D facilities from western countries to developing APAC nations due to lower capital and labor costs and as stable economies will lead to higher demand for homogenizers during the forecast period,” adds Amber.
Reforms in milk production in the European Union
The removal of dairy-related restrictions such as the milk quota in the EU in April 2015 has led to an upsurge in milk production. This has stimulated leading dairy food manufacturers to use advanced machinery such as high-pressure homogenizers and ultrasonic homogenizers to enhance their processing capacity. Milk quotas in the EU were established in 1984 to prevent oversupply.
The system has been scrapped after more than three decades to encourage EU dairy producers to compete with international players and increase their supply to fast-growing markets in Asia and Africa. This abolition will help dairy food manufacturers in the EU increase their exports.
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About Technavio
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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