NEWARK, Del, Feb. 20, 2023 (GLOBE NEWSWIRE) -- The global spray dryer market is predicted to amass a revenue of US$ 7,643.3 million by 2032, as opposed to US$ 4,984.6 million in 2022. The market is slated to record an average CAGR of 4.4% from 2022 to 2032. Factors such as the increasing use of spray dryers in the pharmaceuticals and food and beverages industries will facilitate the growth of the spray dryer market. Rising investment in the technological development of spray drying devices will also boost the prospects of the spray dryer market during the forecast period.
Rapid urbanization, rising population rates, increasing purchasing power, and changes in consumer preferences will likely shape the sprayer dryer market. This is owing to the extensive use of spray-drying technologies by processed food manufacturers as there’s been a notable upsurge in the consumption of ready-to-eat foods that do not need any elaborate processing.
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More and more consumers are purchasing frozen foods- in conventional, non-conventional, and beverage categories- which is anticipated to augur well for the market. Rising demand and consumption of sorbitol foods will also contribute to the expansion of the spray dryer market size. Further, spray dryers also gain usage in the pharmaceutical sector because of the needed precision in particle size and required stability. Hence, these factors promote the growth of the spray dryer market in the forthcoming years.
The elevated demand for resins and polymers which supplements the chemical industry will also aid the growth of the spray dryer market. Other factors that support the growth of the spray dryer market are benefits like the shelf life extension of both pharmaceuticals and food products as well as the maintenance of the nutritional content of the goods. The rising demand for the production of dried powders with high thermal efficiency in bulk quantities will also spur the adoption of spray dryers during the projection period.
Key Takeaways:
- High installation costs and maintenance expenses will deter the growth of the spray dryer market during the assessment period.
- Growing compliance with environmental and safety regulations for processing products will strengthen prospects for the spray dryer market.
- In 2022, the spray dryer market in Europe held a 30% share of the market revenue owing to manufacturing norms about food processing.
- North America’s spray dryer market accounted for a revenue share of 24% in 2022 and the market will continue to present strong growth due to the easier adoption of new technologies.
- Asia Pacific will emerge as an opportunistic pocket for the spray dryer market because of a heavy western influence and shifting food preferences among the general population.
Competitive Landscape
GEA Group AG, Dedert Corporation, SPX Flow Technology Denmark A/S, European Spraydry Technologies Llp, Tetra Pak International S.A., and Saka Engineering Systems Private Ltd., among others, are some of the prominent players in the spray dryer market profiled in the full version of the report.
Significant market players are concentrating on facility expansion and product development. These enterprises also engage in strategic partnerships, collaborations, mergers, and acquisitions to enhance their market footprints.
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More Insights into Spray Dryer Market
FMI offers the latest, detailed, and unbiased analysis of the global spray dryer market, providing historical data from 2017 to 2021 and forecast statistics for 2022 to 2032. For a comprehensive understanding of the global market potential, growth, and scope, the market is segmented on the basis of product type (atomizer, fluidized, centrifugal), operation (batch, continuous), operating principal (direct drying, indirect drying), flow range (co-current, pharmaceutical, chemical), and region.
According to the reports, based on region, the spray dryer market in Europe will display substantial growth between 2022 and 2032. The target market in this region will assume the lead in the global marketplace with a revenue share of 30%. Growing pharmaceutical infrastructure, the strong presence of the food and beverage industry, the implementation of mandates and regulations regarding food processing, and the adoption of energy-efficient equipment in the food industry will propel the spray dryer market in Europe. Besides, North America and Asia Pacific will also considerably contribute to the global growth of the spray dryer market during the projection period.
Key Segments Profiled in The Spray Dryer Market Survey
By Type:
- Atomizer
- Fluidized
- Centrifugal
By Operation:
- Batch
- Continuous
By Operating Principal:
- Direct Drying
- Indirect Drying
By Flow Range:
- Co-Current
- Pharmaceutical
- Chemical
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Japan
- Middle East and Africa
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage/Taxonomy
2.2. Market Definition/Scope/Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
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