March 1, 2024

Industrial Dryer Market Propelled By Increasing Demand From Food Processing Industry

Industrial dryers are industrial equipment used to reduce the moisture content of materials through evaporation of water. They find extensive application in food processing industries for drying foods such as grains, spices, meat, herbs, fruits and vegetables. The increasing demand for dried and dehydrated foods is propelling the growth of industrial dryer market. 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 key trends:
Propelled by the increasing demand from food processing industry, the global industrial dryer market is witnessing significant growth. One of the key trends fueling the market growth is the increasing adoption of multi-functional industrial dryers. Multi-functional industrial dryers offer various advantages such as reduced operational costs, improved throughput and enhanced productivity. They are equipped with multiple drying zones and are capable of performing different drying modes like low temperature drying, fluidized bed drying and spray drying in a single unit. Their ability to perform diverse drying applications using a single equipment is driving their increasing adoption across various end use industries including food processing, chemicals, pharmaceuticals, paper and pulp and others. This is expected to support the growth of industrial dryer market over the forecast period.

SWOT Analysis
Strength: Industrial dryers have a high production capacity and efficiency which helps reduce costs. They offer uniform drying of materials and products.
Weakness: Initial investment required for installation and setup of industrial dryers is high. Maintenance and repairs of these complex machines also require higher costs.
Opportunity: Growth of various process industries like food, pharmaceutical, chemical, etc. where drying is an important step provides opportunities for industrial dryer manufacturers. Advancements in drying technologies help address new application areas.
Threats: Strict environmental regulations around emissions from industrial drying processes act as a challenge. Volatility in raw material prices impact the operational costs of end-use industries.

Key Takeaways

The global industrial dryer market demand is expected to witness high growth.

Regional analysis: Asia Pacific region currently dominates the market and is expected to witness the fastest growth over the forecast period. China, India, Japan, and other Southeast Asian countries are major contributors to the growth of this regional market.

Key players operating in the industrial dryer market are PepsiCo, Inc., Nestle SA, The Coca-Cola Company, Groupe Danone, Abbott Laboratories, Bernard Food Industries, Inc, Zydus Wellness Ltd., Dr. Pepper Snapple Group Inc., McNeil Nutritionals LLC, Cargill, Incorporated, and Ajinomoto Co., Inc. Growing demand from the food processing industry globally is driving these players to expand their production capacities and capabilities. Partnerships and mergers are scaling up to leverage new opportunities.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it