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Freeze Drying Market Recent Trends, Growth, Opportunities And Industry Forecast By 2033
Freeze Drying Market Trends
As per the report, the freeze drying market size has grown rapidly in recent years. It will grow from $6.7 billion in 2023 to $7.46 billion in 2024 at a compound annual growth rate (CAGR) of 11.3%. The freeze drying market size is expected to see rapid growth in the next few years. It will grow to $11.25 billion in 2028 at a compound annual growth rate (CAGR) of 10.8%.
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Ready-to-Eat Boom Drives Surge In Freeze Drying Market
The increasing demand for ready-to-eat foods is expected to propel the growth of the freeze drying market going forward. Ready-to-eat food is a meal that has been prepared and packaged before serving and requires no additional preparation or cooking. Freeze drying is used in ready-to-eat foods to remove moisture from food at low temperatures and under a vacuum, creating lightweight, shelf-stable products that retain their original qualities remarkably well. For instance, in 2022, according to the Ministry of Commerce & Industry, India, India's exports of ready-to-eat foods increased by 24% to $ 394 million in 2021-22 (April-October). Therefore, the increasing demand for ready-to-eat foods is driving the growth of the freeze drying market.
Technological Advancements Drive Innovation In The Freeze-Drying Market
Major companies operating in the freeze-drying market are focusing on technologically advanced freeze drying technology to increase their profitability in the market. Freeze drying technology is a low-temperature dehydration process that involves freezing a product and lowering the pressure, thereby removing the ice by sublimation. For instance, in June 2021, SP Industries Inc., a US-based biotechnology and manufacturing company, launched the SP Hull LyoStar 4.0 R&D freeze dryer. The LyoStar 4.0 is a pilot-scale freeze dryer that offers superior shelf mapping, rapid shelf freezing, process accuracy, and reliability. It is specifically designed to facilitate scale-up and faster delivery of biopharmaceutical products to the market. The freeze dryer incorporates the latest innovations in freeze-drying technology and includes a suite of process analytical technology (PAT) tools to ensure precise process control and robust reliability. Additionally, it uses an eco-friendly refrigerant gas to reduce the carbon footprint involved in lyophilization.
The freeze drying market covered in this report is segmented -
1) By Type: Tray-Style Freeze Dryers, Manifold Freeze Dryers, Shell (Rotary) Freeze Dryers
2) By Product: Bench Top Freeze Dryers, Laboratory Freeze Dryers, Mobile Freeze Dryers, General Purpose Freeze Dryers, Industrial Freeze Dryers, Other Products
3) By Scale of Operation: Industrial-Scale Lyophilization Equipment, Pilot-Scale Lyophilization Equipment, Laboratory-Scale Lyophilization Equipment
4) By Application: Biotechnology, Pharmaceuticals, Food Processing, Surgical Procedures, Other Applications
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Major companies operating in the freeze drying market report are GEA Group AG, Azbil Corporation, ULVAC Inc., IMA S.p.A., Tiermax Inc., Shanghai Tofflon Science Technology Co. Ltd., OPTIMA Packaging Group GmbH, BÜCHI Labortechnik AG, Telstar S.A.U. , HOF Sonderanlagenbau GmbH, LabTech S.r.l., SP Industries Inc., SiccaDania A/S , Freezedry Specialties Inc., Harvest Right LLC, Cryotech Deicing Technology, Cuddon Freeze Dry, Hosokawa Micron Corporation, Martin Christ Gefriertrocknungsanlagen GmbH, Yamato Scientific America Inc., Zirbus Technology GmbH, Millipore Corporation, Dara Pharma Group Ltd., MechaTech Systems Ltd., Labconco Corporation , Labstac LLC , Hudson Valley Lyo Mac Inc., Parker Freeze Dry Inc., Gardner Denver Inc., Millrock Technology Inc.
Contents of the report:
1. Executive Summary
2. Freeze Drying Market Report Structure
3. Freeze Drying Market Trends And Strategies
4. Freeze Drying Market - Macro Economic Scenario
5. Freeze Drying Market Size And Growth
…..
27. Freeze Drying Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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