With 5.6% CAGR, Spray Drying Equipment Market Size to Reach USD 6.9 billion by 2029
Exactitude Consultancy
9 min read
According to Exactitude Consultancy the Global Spray Drying Equipment Market value is expected to reach USD 6.9 billion by 2029, growing at a 5.6% CAGR of Between Forecast Period 2021 and 2028.
Luton, Bedfordshire, United Kingdom, March 09, 2023 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Spray Drying Equipment Market.
The global spray drying equipment market size is estimated at USD 4.26 billion in 2021 and is projected to grow at a CAGR of 5.6% to reach USD 6.9 billion by 2028. The growth in usage of microencapsulation technique through spray drying in food and pharmaceutical industry to increase the availability of active pharmaceutical ingredients drives the market.
Industry Developments
In August 2022, SPX FLOW, Inc. has announced a collaboration with Flottweg to design, supply, install, and commission end-to-end plant-based process solutions for customers in the nutrition, health, food, and beverage industries as a result of the collaboration.
In June 2022, BÜCHI Labortechnik launched the Mini Spray Dryer S-300. The system is automated to regulates all parameters such as spray gas, drying gas, and pump speed. The instrument also monitors both the outlet and the newly manufactured product temperatures to ensure the ultimate protection of heat-sensitive samples.
In June 2022, Dedert Corporation announced the successful commissioning of its latest Spray Drying and Evaporation plant for the plant-based protein factory EverGrain. The drying and evaporation technology is used for the specialty protein developed for its solubility functionality.
In March 2021, Tetra Pak and Rockwell Automation announced a strategic partnership for Cheese and Powder Solutions. The combined business expertise will deliver data and technology to reduce variability and improve quality consistency, assisting in the production of finished products in demand-driven manufacturing environments in a sustainable and cost-effective manner.
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The growing consumption of processed foods and powdered supplements
The rapid urbanization of the past decade has led to significant changes in consumer lifestyles, resulting in a high demand for processed and ready-to-eat food products. The busyness of consumers' lives has been compounded by an increase in dual-income levels, living standards, and the need for convenience, all of which have contributed to the growing consumption of processed food.
Consequently, processed food manufacturers have turned to spray-drying technologies for products like maltodextrin, which serves as a food additive in confectioneries and is commonly used in sports and wellness products. The resulting surge in maltodextrin demand has boosted the use of spray dryers among food additive manufacturers, positively impacting the spray drying equipment market.
In June 2022, Dedert successfully commissioned its latest Spray Drying and Evaporation plant for plant-based protein. Dedert leveraged the solubility functionality of the specialty protein developed by EverGrain (by AB InBev). EverGrain's new protein production facility, located on AB InBev's St. Louis brewery campus, transforms grains saved during the brewing process into nutritious, environmentally friendly ingredients. These barley-based ingredients can be found in a wide range of foods and beverages.
The high installation and operational cost
The cost of utilizing spray drying technology is significant due to the specialized equipment and the need for continuous operation. Regardless of the type of atomizer or dryer capacity, the primary auxiliary equipment remains the same. Spray dryers typically have low thermal efficiencies due to the large volume of hot air that circulates in the chamber without making contact with the particles. Additionally, spray dryers that use two fluid nozzles require compressed gas for atomization, which increases the energy and pressure requirements and overhead costs. Moreover, maintenance costs for spray dryers are high, primarily because of the nozzles used. Rotary disc atomizers are prone to internal corrosion due to the number of moving parts that come into direct contact with the powders. One fluid and two fluid nozzles are particularly susceptible to clogging and abrasion at the nozzle mouth. Finally, issues with the powder sticking to the inner chamber walls result in increased cleaning costs and operational expenses.
Report Attribute
Details
Spray Drying Equipment Market size value in 2021
USD 4.26 billion
Revenue forecast in 2028
USD 6.9 billion
Market Growth rate
CAGR of 5.6% from 2021 to 2028
Base year for estimation
2021
Historical data
2018 - 2020
Forecast period
2021 - 2028
Quantitative units
Revenue in USD Million, volume in units, CAGR from 2021 to 2028
Report coverage
Revenue forecast, company ranking, competitive landscape, growth factors, trends
Segments covered
By Product Type; Application, Cycle Type; Flow Type; Drying Stage and By Region
Regional scope
North America; Europe; Asia Pacific; Latin America; MEA
GEA Group AG (Germany), SPX Flow (US), Shandong Tianli Drying Technology & Equipment (China), European Spraydry Technologies (UK), Buchi Labortechnik AG (Switzerland), and Labplant (UK), Advanced Drying Systems (India), Freund Vector Corporation (US), Dedert Corporation (US), Carrier Vibrating Equipment Inc. (US), and Yamato Scientific America (US), Tetra Pak International SA (Switzerland), G Larsson Starch Technology AB (Sweden), Hemraj Enterprise (India), and Acmefil Engineering Systems Pvt. Ltd. (India).
Customization scope
Free report customization with purchase. Addition or alteration to country, regional & segment scope.
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Formulate effective sales and marketing strategies by understanding the competitive landscape and by analyzing the company share of Spray Drying Equipment Market leaders.
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Organize your sales and marketing efforts by identifying the market categories and segments that present maximum opportunities for consolidations, investments and strategic partnerships.
Spray Drying Equipment Market Analysis:
The spray drying equipment market is projected to grow at a CAGR of 5.6% during the forecast period (2021-2028).
The custom-based and laboratory-specific spray dryers are gaining popularity due to their desired preciseness and efficiency.
The food, pharmaceutical, and chemical industries are introducing products with enhanced shelf-life which requires dehydration and drying of certain ingredients, paving a clean way for the spray dryer market to grow at a good pace.
Because of the use of numerous heat sensitive ingredients, spray drying is preferred in the pharmaceutical industry due to its basic operation principle.
The food industry, particularly dairy and spice units, has associated spray dryers very well with itself. Spray drying equipment are also being widely used for food encapsulation, which is likely to drive the spray drying equipment market in near future.
Conversely, high installation and maintenance costs and lack of skilled engineers may negatively affect the market growth to a limited extent.
Which segment accounted for the largest Spray Drying Equipment Market share?
Who are the key players in the Spray Drying Equipment Market?
What are the factors driving the Spray Drying Equipment Market?
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