The global spray drying equipment market is estimated at USD 4.38 billion in 2018. It is projected to reach USD 6.12 billion by 2023, at a CAGR of 6.9% from 2018
LONDON, July 19, 2018 /PRNewswire/ -- Spray drying equipment market projected to grow at a CAGR of 6.9%
The global spray drying equipment market is estimated at USD 4.38 billion in 2018. It is projected to reach USD 6.12 billion by 2023, at a CAGR of 6.9% from 2018.
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Increasing demand for ready-to-eat and functional food, reduction in thermal damage caused to the product, increase in shelf-life leading to improved logistics, technological innovations, and emerging applications in biotechnology are some of the important factors that are expected to drive the growth of the spray drying equipment market during the review period.
However, the high operation cost and changes in organoleptic properties of the final product are the major restraining factors for the spray drying equipment market.
Closed loop spray dryer segment, by spray dryer type, is projected to be the fastest-growing from 2018 to 2023
The closed loop segment is projected to grow at the highest CAGR among all spray drying types from 2018 to 2023.Closed loop spray drying systems are ideal for handling solvents, heat-sensitive products, preventing oxidation of dried products, and providing an aseptic atmosphere.
Such advantages offered by closed loop spray dryers are expected to drive the demand for this segment during the forecast period.
Food segment, by application, dominated the market in 2017
Spray dryer equipment find a wide range of applications in the food industry—starting from food ingredients to the conversion of fruit & vegetable juices into instant mixes, instant coffee mixes, and drying of eggs and dairy products. There are various types of spray dryers available that are used according to the product type and the nature of production, whether it is a batch or continuous production.
North America is estimated to contribute the largest share in the global spray drying equipment market in 2018
The North American spray drying equipment market held the largest share, globally.The food ingredient and dairy industries in this region have undergone comprehensive changes in terms of technological advancements and investments in infrastructure.
The extraction and use of food additives and increase in demand for convenience food items such as instant coffee and soup mixes have widened the scope for spray drying to facilitate rapid production.
The dairy processing industry in the North American region is large, in terms of value, and contributes a larger share to the respective GDP of the respective countries. There are major players such as Kraft Foods Group Inc. (US) and Abbott Nutrition (US) using the spray drying technique for processing their products. Furthermore, the US accounted for the largest share of the North American spray drying equipment market; this is majorly driven by the rise in the number of milk powder manufacturers and use of spray drying in the food & beverage industry.
The points below depict the breakdown of the primaries on the basis of company type, designation, and region, conducted during the research study.
• By Company Type: Tier 1 – 52%, Tier 2 – 30%, and Tier 3 – 18%
• By Designation: C level – 44%, and D level – 56%
• By Region: Asia Pacific – 36%, Europe – 27%, North America – 26%, and RoW – 11%
Major players in this market include GEA (Germany), SPX FLOW (US), Dedert Corporation (US), Buchi Labortechnik (Switzerland), European Spraydry Technologies LLP (UK), Changzhou Lemar Drying Engineering Co. Ltd. (China), Shandong Tianli Drying Technology and Equipment (China), Acmefil (India), New AVM Systech (India), C. E. Rogers (US), Advanced Drying System (India), and Labplant (UK).
Research Coverage:
The report focuses on spray drying equipment products for different types and regions.It aims at estimating the size and future growth potential of this market across different segments—spray dryer type, application, flow type, cycle type, drying stage, and region.
Furthermore, the report includes an in-depth competitive analysis of the key players in the market along with their company profiles, competitive landscape, recent developments, and key market strategies.
Reasons to Buy This Report:
• To get a comprehensive overview of the global spray drying equipment market
• To gain wide-ranging information about the top players in this industry, their product portfolios, and key strategies adopted by them
• To gain insights of the major countries/regions in which the spray drying equipment market is flourishing
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