The global Freeze-Drying Equipment Market is projected to witness a rise in revenue from US$ 2,118 Mn in 2021 to US$ 3,346.0 Mn by 2027. The market is registering a CAGR of 8.1% during the forecast period 2022-2027. In terms of volume, the market was valued at 460,826 units in 2021 and is forecasted to reach 575,750 units by 2027, registering a CAGR of 5.9% over the forecast period 2022-2027. Freeze-drying is the process of removing ice or other frozen materials by removing water molecules from the products. Controlled freeze drying keeps the temperature of the products low enough during the process for avoiding changes in the appearance or characteristics of the product. The equipment and accessories used in the freeze-drying systems include vacuum systems for removing non-condensable vapors from the system, loading and unloading systems, controlling and monitoring systems for monitoring of dependent parameters such as sublimation endpoint, product temperature, and many more. The freeze-drying process has found its application in many industries for several years, most commonly being used in the pharmaceutical and food industries.
The market is majorly driven by factors such as increasing contract manufacturing and lyophilization services, increasing demand for freeze-drying of new biologic drugs and injectable formulations, and rising adoption of freeze-drying technology for delicate and sensitive materials of high value. Pharmaceutical industries have a significant contribution to the growth of freeze-drying technology, backed by various pivotal factors, such as growing contract manufacturing services in lyophilization, growing investment for R&D programs, and others. Additionally, freezing drying equipment is also finding an increased usage in food processing due to the growing inclination of individuals towards packaged food products on account of changing lifestyles, busy schedules, and inflating disposable incomes. Freeze-dried products have a long shelf-life since this technology is protected against humidity, light, and oxygen and can be stored for a long time without affecting the quality and texture of the product. However, stringent rules and regulations in the pharmaceutical and food and beverage industries act as a barrier to the growth of the global freeze-drying market. Further, the high cost of freeze-drying technology is also hampering the market growth.
Key Insights of the Report:
Key Takeaways from the Global Freeze-Drying Equipment Market Report
Competitive Landscape
The key players in the Global Freeze-Drying Equipment Market are Azbil Corporation, GEA Group, SP Industries Inc., Optima Packaging Group GmbH, and Industria Macchine Automatiche S.p.A. among others. Through extensive research, it is found that big players have adopted various competitive strategies such as mergers & acquisitions in order to have a grip on the emerging markets. Furthermore, leading companies are expanding their geographical boundaries by acquiring small brands and domestic companies.
Segmentation Overview
Global Freeze-Drying Equipment Market is segmented based on equipment type, the scale of operation, capacity, application, and region. These segments are further subdivided to get a holistic picture of the market. The following are the different segments of the Global Freeze-Drying Equipment Market:
By Equipment Type segment of the Global Freeze-Drying Equipment Market is sub-segmented into:
By Scale of Operation segment of the Global Freeze-Drying Equipment Market is sub-segmented into:
By Capacity segment of the Global Freeze-Drying Equipment Market is sub-segmented into:
By Application segment of the Global Freeze-Drying Equipment Market is sub-segmented into:
By Region segment of the Global Freeze-Drying Equipment Market is sub-segmented into:
Report Attribute | Details |
---|---|
Market Size Value in 2021 | US$ 2,118 Mn |
Expected Revenue in 2027 | US$ 3,346.0 Mn |
Historic Data | 2017-2020 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Unit | Value (USD Mn) |
CAGR | 8.1% |
Segments covered | By Equipment Type, Scale of Operation, Capacity, Application, and Region |
Key Companies | Azbil Corporation, GEA Group, SP Industries Inc., Optima Packaging Group GmbH, and other prominent players. |
Customization Scope | Get your customized report as per your preference. Ask for customization |
Freeze-drying is the process of removing ice or other frozen materials by removing water molecules from the products.
The equipment and accessories used in the freeze-drying systems include vacuum systems for removing non-condensable vapors from the system, loading and unloading systems, controlling and monitoring systems for monitoring of dependent parameters, and many more.
Global Freeze-drying market revenue was valued at US$ 2,118 Mn in 2021
Global Freeze-drying market is estimated to grow at a CAGR of 8.1% over the forecast period.
The market is majorly driven by factors such as increasing contract manufacturing and lyophilization services, increasing demand for freeze-drying of new biologic drugs and injectable formulations and rising adoption of freeze-drying technology for delicate and sensitive materials of high value.
Stringent rules and regulations in pharmaceutical and food and beverage industries and the high cost of freeze-drying technology acts as a barrier to the growth of the global freeze-drying market.
Rising demand for lyophilized products in Middle East and Asia Pacific region is an emerging opportunity in the market for freeze-drying equipment.
The tray style freeze dryer equipment type holds the highest share in the Global Freeze-Drying Equipment Market in 2021.
The food processing and packaging industry is the highest end user of the freeze-drying equipment in 2021.
Asia Pacific dominates the Global Freeze-Drying Equipment Market.
The key players in the Global Freeze-Drying Equipment Market are Azbil Corporation, GEA Group, SP Industries Inc., Optima Packaging Group GmbH, and Industria Macchine Automatiche S.p.A. among others.