Pune, India, May 29, 2023 (GLOBE NEWSWIRE) -- The global spray dryer market size was valued at USD 5.59 billion in 2022. The market is set to expand from USD 5.90 billion in 2023 to USD 8.95 billion in 2030, exhibiting a CAGR of 6.1% over the anticipated period. The surge is on account of the expanding chemical, pharmaceutical, food, and chemical industries.Fortune Business Insights™ provides this information in its research report, titled “Spray Dryer Market, 2023-2030”.
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Key Industry Development:
August 2022 – Dedert Corporation rolled out a new air bearing atomizer. The technology provides a low maintenance and robust operation for spray drying applications.
Report Highlights:
| Report Coverage | Details |
| Forecast Period | 2023-2030 |
| Forecast Period 2023 to 2030 CAGR | 6.1% |
| 2030 Value Projection | USD 8.95 Billion |
| Base Year | 2022 |
| Market Size in 2022 | USD 5.59 Billion |
| Historical Data for | 2019-2021 |
| No. of Pages | 160 |
| Segments covered | By Type, By Drying Stage, By Application and By Region |
| Growth Drivers | Surging Consumption of Processed and RTE Foods to Drive the Market Growth |
| Investments in Greenfield & Brownfield Creations to Aid the Market |
COVID-19 Impact:
Industry Share Boosted by Rising Demand from the Pharmaceutical Sector
The COVID-19 pandemic led to an escalated demand for spray drying. The market share was rising on account of a range of desirable properties of spray dryers. These include hygienic conditions, better bioavailability, non-pollution, and others. The market expansion was further driven by the introduction of new medicines such as biological substances and vaccines. These factors contributed to market growth amid the COVID-19 pandemic.
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Drivers & Restraints
Market Share to Rise Driven by Growing Consumption of RTE and Processed Foods
One of the key factors favoring the spray dryer market growth comprise the increasing consumption of RTE and processed foods. The rising product usage can be further credited to the increasing demand for maltodextrin.
However, spray drying of necessary equipment and its continued operation are provided at a high cost. This could hamper the spray dryer market expansion to a considerable extent.
Report Coverage:
The report provides a coverage of the major trends boosting the global business scenario over the estimated period. It further offers an insight into the vital factors influencing market growth over the forthcoming years. It also gives an account of the key steps undertaken by leading industry players for strengthening the positions of their businesses.
List of Key Players Present in the Market:
- GEA Group Aktiengesellschaft (Germany)
- SPX FLOW (U.S.)
- European SprayDry Technologies (U.K.)
- Buchi Labortecknik AG (Switzerland)
- Dedert Corporation (U.S.)
- Advanced Drying System (U.S.)
- Larsson Starch Technology AB (Sweden)
- Tetra Pak Group (Switzerland)
- Yamato Scientific America (U.S.)
- Swenson Technology, Inc (U.S.)
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Segments:
Nozzle Atomizer Segment to Gain Traction Driven by Escalating Adoption
Based on type, the market is segmented into nozzle atomizer, rotary atomizer, fluidized, closed loop, and centrifugal. Of these, the nozzle atomizer segment is slated to grow at an appreciable pace throughout the forecast period. The rise is impelled by the growing adoption of the product for manufacturing coarser and free-flowing powders.
Two Stage Segment to Expand Considerably Owing to Lower Costs of Production
On the basis of drying stage, the market is fragmented into single stage, two stage, and multi stage. The two stage segment is poised to register commendable growth over the projected period. The surge is due to the declining manufacturing costs and rising product demand.
Food & Dairy Segment to Register Substantial Demand Considering Surging Adoption in Baby Products
Based on application, the market is categorized into chemical, pharmaceutical, food & dairy, and others (animal feed). The food & dairy segment is expected to expand at a considerable pace over the estimated period. The rise is impelled by the escalating product adoption in baby products, egg powder, and coffee powder production equipment.
By geography, the market for spray dryers is segmented into Asia Pacific, North America, South America, Europe, and the Middle East & Africa.
Regional Insights:
North America to Emerge as Leading Region Driven by High Demand for Technological Advancements
The North America spray dryer market share is slated to register substantial growth throughout the forecast period. The surge can be credited to the increasing demand for technological advancements and pharmaceutical products.
The Asia Pacific market is poised to register considerable expansion over the anticipated period. The rise is driven by the escalating demand for the production of milk in the region.
Competitive Landscape:
Leading Companies Undertake Strategic Initiatives to Expand Product Reach
Major industry participants are set to formulate a range of strategic initiatives for the consolidation of their market positions. These steps include partnership agreements, mergers, acquisitions, and the rollout of new solutions. Other steps comprise increasing participation in trade conferences.
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Major Table of Contents:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Global Spray Dryer Key Players Market Share Insights and Analysis, 2022
- Global Spray Dryer Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2019-2030
-
- Key Findings
- By Type (USD Bn)
- Rotary Atomizer
- Nozzle Atomizer
- Fluidized
- Closed Loop
- Centrifugal
- By Drying Stage (USD Bn)
- Single Stage
- Two Stage
- Multi Stage
- By Application (USD Bn)
- Food & Dairy
- Pharmaceutical
- Chemical
- Others (Animal Feed)
- By Region (USD Bn)
- North America
- Europe
- Asia-Pacific
- South America
- Middle East & Africa
-
- North America Spray Dryer Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2019-2030
-
- Key Findings
- By Type (USD Bn)
- Rotary Atomizer
- Nozzle Atomizer
- Fluidized
- Closed Loop
- Centrifugal
- By Drying Stage (USD Bn)
- Single Stage
- Two Stage
- Multi Stage
- By Application (USD Bn)
- Food & Dairy
- Pharmaceutical
- Chemical
- Others (Animal Feed)
- By Country (USD Bn)
- The U.S.
- By Application
- Food & Dairy
- Pharmaceutical
- Chemical
- Others (Animal Feed)
- By Application
- Canada
- By Application
- Food & Dairy
- Pharmaceutical
- Chemical
- Others (Animal Feed)
- By Application
- Mexico
- By Application
- Food & Dairy
- Pharmaceutical
- Chemical
- Others (Animal Feed)
- By Application
- The U.S.
-
TOC Continued…!
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