Market of Food Vacuum Dryers to Register 1.5X Growth in the Light of Increasing Food Projects, Unveils Fact.MR
Published : 24 Aug 2018 Industry: Industrial Goods
The advent of food vacuum drying machines has reinforced feasibility in various food drying applications, thereby projecting a promising futuristic outlook of the food vacuum dryers market. Significant upraise in demand for food vacuum dryers is driving continuous efforts and developments by manufacturers operating in the food vacuum drying machine market.
These persistent developments and efforts for diversifying the existing product framework are stimulating the market to land on a prosperous growth course. Moreover, high preferences for processed food is also adding up to the overall demand for food vacuum dryers across the globe. The study foresees food vacuum drying machine market to exhibit an impressive CAGR of 2.9% during the forecast period 2018-2028.
The current growth curve of the food vacuum drying machine market is preeminently influenced by surging count of food projects lined up over the time. The growing fad for customized food vacuum drying machines across all the regions of the globe is also fortifying the growth aspects by a significant margin. This, in turn, is further poised to encourage manufacturers to frame robust tactics and extend their product specialties.
Also, the vogue of customized food vacuum dryers is stimulating revival of the overall value chain process, which will augur well for the growth of food vacuum drying machine market. With OEMs and Aftermarket playing a crucial role in the Food Vacuum Drying Machines Market, the demand from food applications is all set to sway the global food vacuum drying machines market; hence creating promising aspects for manufacturers.
By product type, continuous vacuum freeze belt dryer is poised to account for the highest market value by 2028. In terms of growth, continuous vacuum belt dryer is foreseen to grow at the highest CAGR of 3.7% by overpowering all other product types. By operating principle, indirect drying is foreseen to lead in terms of revenue outpacing direct drying principle.
Indirect drying is also foreseen to outshine direct drying with regard to growth. Indirect drying is envisioned to grow at a CAGR of 3.2% during the assessment period of 2018 to 2028. North America had stood out with a notable market share in 2018 and this region is likely to lead by 2028 end.
Adoption of superheated steam dryers is estimated to evolve as an emerging trend in the wake of several advantages offered including energy recovery, high rate of drying, minimalized equipment capital cost and size, lower environmental impacts, and many more. Market consolidation and expansion has also been stated as one of the most-anticipated trends in the upcoming market scenario.
Surging reliance of manufacturers on consolidation and expansion is anticipated to meet the rising demand, gain access to markets with high potential in APAC, and to magnify their stronghold in prime regions such as Europe and North America.
The market of food vacuum dryers is slated to be a highly consolidated one with a less number of players holding around two-third of the global market share. Manufacturers indulged in manufacturing of food vacuum drying machines have dramatically evolved, primarily at the regional frontiers and in China. This proliferation is attributable to presence of advance manufacturing technology and cost effective machinery.
On the contrary, several governmental regulations pertaining to design & development of vacuum drying machines, rate of high power consumption and shelf life of machines are few of the key impediments likely to thwart the global market growth. The manufacturers are also foreseen to strive for long term supply contracts in the wake of several realizations tied to price correction.