May 29, 2024
Industrial Dryer Market
Ict

Industrial Dryer Market Driven By Increasing Need For Drying Of Food, Pharmaceutical And Other Materials

Industrial dryers are machines used to decrease the moisture content of materials such as food, pharmaceutical, chemical and other products. They are used for various applications such as drying of fruits and vegetables, herbs, grains, seeds, nuts, milk powders, herbs and spices. Increasing consumption of dried food products across the globe is a major driver for industrial dryers. Dried food products have longer shelf life as compared to fresh food and can be stored and transported easily. Also, dried foods are convenient to use and help in reducing food wastage. Drying technique helps in preserving nutritional value, texture and flavor of food.

The Global Industrial Dryer Market Size is estimated to be valued at US$ 1.58 billion in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.

Market Key Trends:

One of the major trends in the industrial dryers market is increasing adoption of energy-efficient dryer systems. Rising energy costs and stringent regulations regarding energy consumption are forcing dryer manufacturers to focus on developing more efficient dryer designs. Advancements in heating and drying technologies are helping manufacturers reduce energy requirements of dryers. For instance, air impingement dryers consume 15-30% less energy as compared to conventional heated air dryers.

Another key trend is growing demand for hybrid and multi-functional dryer systems. Hybrid dryers utilize more than one drying method to accelerate the drying process and improve product quality. They help in reducing drying time as well as energy consumption. Rapidly growing processed food industry is favoring adoption of hybrid dryer systems. Manufacturers are also developing dryers with additional functionalities such as cooling, freezing and size reduction to reduce separate processing requirements.

Porter’s Analysis

Threat of new entrants: The industrial dryer market requires high capital investment for machinery and manufacturing facilities, thereby acting as a barrier for new players.

Bargaining power of buyers: The presence of several industrial dryer manufacturers reduces the bargaining power of buyers.

Bargaining power of suppliers: Suppliers of components like dryers, blowers, and heat exchangers have moderate bargaining power.

Threat of new substitutes: There exist few alternatives to industrial dryers for batch-wise and continuous drying applications.

Competitive rivalry: The global industrial dryer market is fragmented due to the presence of domestic and international players.

Key Takeaways

The global Industrial Dryer market is expected to witness high growth. The global industrial dryer market is estimated to be valued at US$ 1.58 billion in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period 2024-2031.

Regional analysis: The Asia Pacific region dominates the global industrial dryer market and is expected to grow at fastest pace during the forecast period. China and India contribute significantly to the growth of the 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, Bernard Food Industries, Inc, Zydus Wellness Ltd., Dr. Pepper Snapple Group Inc., McNeil Nutritionals LLC, Cargill, Incorporated, and Ajinomoto Co., Inc. They are focusing on new product launches and acquisitions to strengthen their market position.

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