PUBLISHER: The Business Research Company | PRODUCT CODE: 1470326
PUBLISHER: The Business Research Company | PRODUCT CODE: 1470326
Spray drying equipment is used to turn liquids into powders or granules in a single step. Spray drying is a way of quickly drying a liquid or slurry into a dry powder with a hot flame.
The spray drying equipment market consists of sales, by entities (organizations, sole traders and partnerships), of spray drying equipment that is used to reduce contaminants like bacteria and other microbes, making it critical in industries such as food and pharmaceuticals where the presence of contaminants can lead to the degradation of product quality. Spray drying is a continuous process used to manufacture free-flowing dry powders from a liquid feedstock.
The global spray drying equipment market was valued at $4,346.90 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 6.0%.
Rising Demand For Processed And RTE Foods
An increase in the consumption of processed and ready-to-eat (RTE) foods propelled the growth of the spray drying equipment market during the forecast period. Spray drying technologies are becoming increasingly common with packaged food producers. For instance, according to the Press Information Bureau, an India-based government agency, in comparison to 2020-21 (April-October), India's exports of ready-to-eat foods increased by 24% to $394 million in 2021-22 (April-October). Further, researchers from a US-based private research university, Northeastern University's Network Science Institute, constructed a database containing over 50,000 food items across Walmart, Target and Whole Foods Market. The database indicated that 73% of the US food supply is ultra-processed and suggested that ultra-processed foods are 52% cheaper than less processed alternatives. Thus, with spray drying being used by manufacturers of ready-to-eat (RTE) foods, the increase in their consumption boosted the growth of the spray drying equipment market.
During the historic period, the spray drying equipment market was driven by strong economic growth in emerging markets. Emerging market growth was aided by rising disposable income, a stable political environment and increasing foreign investments in these countries. For instance, China's gross domestic product (GDP) grew from $11.06 trillion in 2015 to $17.94 trillion in 2022
Focus On Development Of Innovative Mini Spray Dryers
Spray drying equipment manufacturers are developing innovative products such as mini spray dryers to meet the growing demand for spray drying. A mini spray dryer is a compact and versatile laboratory instrument used to convert liquid samples into dry powder form through the process of spray drying. For instance, in June 2022 BUCHI Labortechnik, a Switzerland-based machinery manufacturer, announced the launch of the Mini Spray Dryer S-300, which is a new generation of spray drying systems. The apparatus is designed for automatic control of various parameters, including spray gas, drying gas and pump speed. Additionally, it keeps a vigilant watch on both the temperature of the product being produced and the temperature at the outlet, all in the interest of safeguarding heat-sensitive samples.
The global spray drying equipment market is fairly fragmented, with large number of small players operating in the market. The top ten competitors in the market made up to 13.32% of the total market in 2022.
Spray Drying Equipment Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global spray drying equipment market as it emerges from the COVID-19 shut down.
Where is the largest and fastest-growing market for spray drying equipment? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The spray drying equipment market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider spray drying equipment market; and compares it with other markets.