The Global Clean-in-Place Market by System Type, Offering, End-User Industry and Geography - Forecast to 2023: Expecting to Register a CAGR of 15.5% - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jan 2, 2019--The “Clean-in-Place Market by System Type (Single-Use and Reuse CIP Systems), Offering (Single-Tank Systems; Two-Tank Systems; Multi-Tank Systems), End-User Industry (Food; Dairy; Pharmaceuticals), and Geography - Global Forecast to 2023” report has been added to ResearchAndMarkets.com’s offering.
The clean-in-place market is expected to grow from USD 7.5 billion in 2018 to USD 15.4 billion by 2023, at a CAGR of 15.49%.
The growth of this market is mainly driven by several factors, such as advantages of CIP systems in various applications, increased use of CIP systems in the pharma industry, and high demand for processed and convenience food and dairy products, as well as for beverages.
Rapid automation of processing plants and stringent government policies for manufacturing companies to comply with food hygiene and safety standards provide lucrative opportunities for the players in the clean-in-place market. However, the high cost of operation restrains the clean-in-place market growth.
Key HighlightsReuse CIP systems are expected to dominate the clean-in-place market during forecast period Pharmaceutical industry is expected to hold a significant share of the clean-in-place market by 2023 Market in APAC is likely to grow at highest CAGR during forecast period
DriversAdvantages of CIP Systems Increased Use of CIP Systems in Pharma Industry High Demand for Processed and Convenience Food and Dairy Products, as Well as for Beverages
RestraintHigh Cost of Operation
OpportunitiesRapid Automation of Processing Plants Stringent Government Policies for Manufacturing Companies to Comply With Food Hygiene and Safety Standards
ChallengesPhysical Limitation of Processing Equipment Dearth of Qualified and Experienced Operators
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 CIP Market, By System Type
7 CIP Market, By Offering
8 CIP Market, By End-User Industry
9 Geographic Analysis
10 Competitive Landscape
11 Company ProfilesAlfa Laval Axomatic Azbil Telstar Bionet Centec GmbH E. Bachiller B Filamatic GD Process Design GEA Group Handtmann Armaturenfabrik KHS GmbH Krones AG Melegari Manghi Millitec Food Systems Sani-Matic Scanjet Systems Solaris Biotech USA SPX Flow Sysbiotech Tetra Pak International
For more information about this report visit https://www.researchandmarkets.com/research/9btndj/the_global?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20190102005415/en/
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Related Topics:Industrial Machinery
INDUSTRY KEYWORD: MANUFACTURING OTHER MANUFACTURING
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 01/02/2019 10:46 AM/DISC: 01/02/2019 10:46 AM