The global spray drying equipment market size is expected to reach USD 7,020.7 Million in 2028, and register a CAGR of 5.5% during
Increasing use of spray drying equipment in various industries such as food & beverages, pharmaceuticals, feed, chemicals, and fertilizer is a key factor driving market revenue growth. Increasing use of spray drying equipment in the processed food and powered food industry to enhance shelf life of the products is a major factor expected to drive market growth.
Rising investment in R&D of advanced and cost-effective equipment by market players.
Increasing prevalence of asthma and other lung-related diseases is leading to rising need for powdered drugs, and need for the equipment for manufacturing powdered drugs are other major factors driving growth of the global spray drying equipment market. However, high operation cost and installation cost of the equipment are factors that could hamper market growth.
Some Key Findings From the Report:
Among the type segments, the nozzle segment accounted for major revenue share in 2020. The fluidized segment is expected to register a robust revenue CAGR during the forecast period. The rotary atomizer segment accounted for the second-largest revenue share in 2020.
Among the stage type segments, the two-stage segment accounted for considerably large revenue share in 2020.
Among the application segments, the food segment accounted for major revenue share in 2020.
The pharmaceutical segment is expected to register a robust revenue CAGR during the forecast period.
The Asia Pacific market is expected to register a robust revenue CAGR during the forecast period, due to well-established chemicals industry, and rapidly growing food and medical sectors.
North America spray drying equipment market accounted for major revenue share in 2020, and is expected to continue with its dominance over the forecast period, owing to highly developed food and pharmaceutical industries.
The market players have adopted various strategies including mergers, acquisitions, partnerships, and new product developments, among other strategies, to stay ahead of the competition and expand market footprint.
Chapter 3. Indicative Metrics 3.1. Expansion of Food & Beverage sector 3.2. Development in Healthcare Infrastructure 3.3. Increasing health concerns 3.4. Increasing investment in research activities
Chapter 4. Spray Drying Equipment Segmentation & Impact Analysis 4.1. Spray Drying Equipment Segmentation Analysis 4.2. Spray Drying Equipment Market Value Chain Analysis, 2018 - 2028 4.3. Regulatory framework 4.4. Spray Drying Equipment Market Impact Analysis 4.4.1. Market driver analysis 4.4.1.1. Growing awareness on nutritional content 4.4.1.2. Increasing need for enhanced durability of food products 4.4.2. Market restraint analysis 4.4.2.1. High equipment and installation cost 4.4.2.2. High consumption of energy 4.5. Key opportunities prioritized 4.6. Spray Drying Equipment Pricing Analysis 4.7. Industry analysis - Porter's 4.8. Spray Drying Equipment PESTEL Analysis
