Spray Drying Equipment Market is Projected to Reach USD 9,207 million in 2029, growing at a CAGR of 5.7% | Size, Analysis & Industry Forecast

Spray Drying Equipment Market

The Spray Drying Equipment Market was estimated USD 5,909 million in 2021, and is anticipated to reach USD 9,207 million in 2029 Expanding at a CAGR of 5.7% during forecast period (2019-2026).

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The factors driving the growth of Spray Drying Equipment Market includes rise in the consumption of ready-to-eat food products, growing consumers preference for convenient food items, expansion of the pharmaceutical and chemical industries and improvements in the living standards. According to the report published by Statista, the revenue generated from the sales of ready to eat meal products in the United States is expected to reach USD 44.87 billion by the end of 2022, expanding at a CAGR of 2.80% over the forecast period (2022-2027), which will accelerate the Spray Drying Equipment Market share. Moreover, technological advancements in spray drying equipment, increasing availability of infant formula and baby food products at distribution channels, changing lifestyles, rapid urbanization and rise in the launch of innovative products, are some of the additional factors supplementing the Spray Drying Equipment Market size. In addition, the increasing investments by major corporations on research and development, rising disposable incomes and growing population growth rates, are further contributing towards the market growth.

However, growth of the Spray Drying Equipment Market is hindered due to high operation and installation cost of spray drying equipment.

The major players operating in the Drying Equipment Market are European Spraydry Technologies LLP, Changzhou Lemar Drying Engineering Co. Ltd., Shandong Tianli Drying Technology and Equipment, GEA, SPX FLOW, Dedert Corporation, Acmefil, New AVM Systech, C. E. Rogers, and Buchi Labortechnik, among others.

Based on Type, the Rotary atomizer segment is predicted to dominate the market during the forecast period

Increasing use of rotary atomizer to produce fine particle size for non-viscous fluids, is propelling segment's growth.

Based on Application, the Food segment is projected to grow at the fastest rate over the forecast period

Increasing use of spray drying equipment to make dairy products such as cheese, buttermilk, and butter, is pushing growth of the segment.

Based on Region, the North America region is anticipated to capture a sizeable market share during the forecast

Growing demand for diary food products, rapid growth in the pharmaceutical and nutraceutical industries, rising popularity of ready-to-eat food products, technological advancements in spray drying equipment and high per capita incomes, are some  of the important factors augmenting the market growth in North American region.

Market Segmentation

Segmentation by Type

Rotary atomizer
Nozzle atomizer
Fluidized
Closed loop
Centrifugal
Others

Segmentation by Application

Food
Pharmaceuticals
Chemical
Others

Segmentation by Drying Stage

Single-Stage
Two-Stage
Multi-Stage

Segmentation by Flow Type

Co-current flow
Counter current flow
Mixed flow

Segmentation by Region

Asia Pacific
China
Japan
India
Rest of APAC

North America
United States of America
Canada

Europe
United Kingdom
Germany
France
Spain
Rest of Europe

RoW
Brazil
South Africa
Saudi Arabia
UAE

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This release was published on openPR.