Freeze Drying Predicted To Dominate Food Processing By 2019
By Sam Lewis
New report forecasts freeze drying industry to double its value within 6 years
The global freeze drying equipment market was worth $15.9 billion in 2012. According to a new report published by Transparency Market Research called Freeze Drying Equipment (Laboratory, Bench Top, Mobile, Industrial and General Purpose) Market for Food Processing, Pharmaceuticals, Surgical Procedures, Biotechnology and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019, the market is expected to nearly double in value over the next 6 years, growing to nearly $31 billion by 2019.
Click here to read the entire Transparency Market Research report
Showing the highest demand in 2012, and accounting for nearly 45 percent of the market share, were industrial freeze dryers. As the food processing and pharmaceutical industries continue to grow, freeze dryers will remain as a major portion of the market in 2019. In fact, the freeze-dryer market is expected to grow at a compounded annual growth rate (CAGR) of more than ten percent between now and 2019. The greatest growth is expected to be in the mobile and bench-top varieties of freeze dryers, with general purpose freeze dryers also showing healthy growth through 2019.
As the title of the report indicates, the key applications of the study include food processing — the largest segment of the market, claiming 35 percent in 2012 — pharmaceuticals, biotechnology, and surgical procedures. While food processing is expected to show a good amount of growth between now and 2019, the fastest-growing market will be biotechnology.
It is important to mention that North America dominates the market for freeze-drying equipment. In 2012, it claimed more than 30 percent of the market’s revenue, making it the leading consumer of the industrial equipment. Europe isn’t far behind, though, as it accounted for almost 30 percent of the total revenue for freeze-drying equipment in 2012.
Despite its domination, North America and Europe may have peaked in popularity, as the future for freeze-drying equipment dominance is predicted to lie in Pacific Asia. As that region of the planet continues to develop, the highest growth in numbers in the industry are forecasted to occur there in the next 6 years. A highly fragmented industry, six freeze-drying equipment companies (including Thermo Fisher Scientific, GEA Niro, and Telstar) account for about one quarter of the total market.