Spray Dryer Market Size Worth USD 8.95 Billion, Globally by 2030 at 6.1% CAGR

As per the report published by Fortune Business Insights, the global spray dryer market size is projected to reach USD 8.95 billion by 2030, at a CAGR of 6.1% during the forecast period, 2023-2030

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.

To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/spray-dryer-market-106966

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)

Canada

By Application

Food & Dairy

Pharmaceutical

Chemical

Others (Animal Feed)

Mexico

By Application

Food & Dairy

Pharmaceutical

Chemical

Others (Animal Feed)

TOC Continued…!

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