Industrial Dryer Market Is Estimated To Witness High Growth Owing To Increased Agricultural Production
Industrial dryers are machines or devices used to remove water content from various materials such as grains, herbs, chemicals and polymers. They are used across various industries such as food, chemical, pharmaceuticals, construction and agriculture. The global demand for industrial dryers has grown significantly over the years owing to the rise in agricultural production worldwide. Industrial dryers play a vital role in post-harvest processing of agricultural commodities which helps improve their shelf life.
The global Industrial Dryer Market is estimated to be valued at Us$ 1.37 Bn in 2023 and is expected to exhibit a CAGR Of 6.1% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
Increased Agricultural Production: The global demand for agricultural commodities has steadily grown over the past few decades owing to factors such as rising population, increasing food consumption and economic growth. According to data from the UN Food and Agriculture Organization (FAO), the global production of major crops such as rice, wheat and coarse grains grew from 2.37 billion tons in 2000 to over 2.79 billion tons in 2019. The increased agricultural output has augmented the demand for farm storage and processing equipment including industrial dryers which helps preserve perishable commodities by removing moisture content.
Efficient Processing: Industrial dryers allow for efficient and faster processing of agricultural and other commodities compared to open-air or solar drying methods. They help control the temperature, airflow and timing of the drying cycle which ensures uniform drying and improves the quality attributes of dried materials. Their automated operation reduces manual labour and possibility of contamination. This has propelled their adoption across farms, food manufacturing facilities and other industrial processing plants globally.
SWOT Analysis
Strength: Industrial dryers offer numerous advantages over air drying such as reduced drying time, controlled drying environment, and higher product quality. They improve process efficiency by optimizing moisture removal. The automation in dryers also minimizes manual labor requirements.
Weakness: High initial investment costs are required to set up dryer systems. Their maintenance and operational costs are also high due to energy consumption. Wet processing requires additional pre-treatment facilities increasing capital expenditure.
Opportunity: Rapid industrialization and growing processed food industry in emerging economies spur demand for industrial dryers. Development of hybrid and solar dryer technologies presents new opportunities. Adoption of advanced control systems can optimize performance.
Threats: Volatility in energy costs impact operating expenses. Strong competition from local players puts pricing pressure. Stringent environment regulations on emissions may require additional investments in pollution control equipment.
Key Takeaways
The Global Industrial Dryer Market Demand is expected to witness high growth over the forecast period. Advancements in dryer technology are increasing efficiency and meeting stringent quality standards. The global industrial dryer market is estimated to be valued at US$ 1.37 Bn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030.
Regional analysis:
Asia Pacific dominates the market currently and is expected to witness fastest growth due to expanding food processing and pharmaceutical industries in China, India, and other developing nations. Countries like India offer a supportive regulatory environment and low manufacturing costs boosting regional market.
Key players:
Key players operating in the industrial dryer market are PepsiCo, Inc., Nestle SA, The Coca-Cola Company, Groupe Danone, Abbott Laboratories, Zydus Wellness Ltd., Dr. Pepper Snapple Group Inc., Cargill, Incorporated, and Ajinomoto Co., Inc. They focus on product innovations and capacity expansions to cater growing demand.
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