by Freeze-drying is a process of dehydrating food and bio-materials through the sublimation of ice under low pressure and temperature. Freeze-drying equipment are widely used for preserving food products like fruits, vegetables, frozen foods, dairy products, meat, seafood, etc. This helps in extending the shelf life of products without altering their flavor and nutritional value. The global Freeze-drying Equipment Market is estimated to be valued at US$ 8.63 Mn in 2023 and is expected to exhibit a CAGR of 13. % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rising Adoption in Food Preservation Industry: Pharmaceutical and food industries hugely rely on freeze-drying to preserve the quality and shelf life of heat-sensitive products. With growing population and changing dietary patterns, food products need to be preserved for longer duration while retaining their nutritional value. This has significantly boosted the adoption of freeze-drying equipment in food processing sector over the years. Moreover, researchers are actively focusing on utilizing freeze-drying technology for developing modified foods with enhanced shelf stability. Such trends are expected to accelerate the demand for freeze-drying equipment worldwide.
SWOT Analysis
Strength: Freeze-drying equipment provides advanced technology solutions for drying heat-sensitive materials like food, pharmaceutical products without compromising quality and integrity. This helps shelf-life extension of products.
Weakness: High initial costs of freeze drying equipment limits its adoption. Small manufacturers have limited access to capital-intensive technologies.
Opportunity: Growing demand for ready-to-eat and processed foods increases usage of freeze drying in food industry for preservation without refrigeration. Pharmaceutical industry’s expansion into lyophilization techniques also drives growth.
Threats: Technology changes and new product innovations may make existing freeze drying equipment obsolete fast. Currency fluctuations affect global trade and localization of manufacturing.
Key Takeaways
The Global Freeze-Drying Equipment Market Size is expected to witness high growth driven by expanding processed food and pharmaceutical industries globally. The market size is projected to reach US$ 8.63 Mn by 2024, registering a CAGR of 13% during the forecast period of 2023 to 2030.
Regional analysis: North America dominates the market currently due to strong presence of manufacturers and technological advancements. Asia Pacific is expected to be the fastest growing region on back of rising health awareness, growing middle class population and their increasing expenditure on healthcare and processed food products. Countries like China, India provide immense opportunities for players in this market.
Key players operating in the freeze-drying equipment market are Harris Corporation, KeyW Corporation, Septier Communication, Digital Receiver Technology (DRT), Rayzone Group, Rohde & Schwarz, L3Harris Technologies, CellAntenna Corporation, PKI Electronic Intelligence, Shoghi Communications Ltd., Ability Computer & Software, Advanced Tactical Systems (ATS), ESD America, NovoQuad Inc., GSMK CryptoPhone. The major players are focusing on new product innovations through continuous research and development activities. Partnerships and acquisitions are also important strategies adopted by key players to expand their geographical footprint globally.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
