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

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 Highlights

Reuse 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

Market Dynamics

Drivers

Advantages 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

Restraint