29/11/2017 – News / Global / Food Processing / Equipment
Growth forecast in the global freeze-drying equipment market
A recent report from market research company Technavio has predicted a CAGR of 2.66 per cent in the global food industry freeze-drying equipment market during the period from 2017 to 2021.
According to Technavio’s research analysis, the expansion of product offerings by end-users using freeze-drying technology will be one of the major factors that will have a positive impact on the growth of the food industry freeze-drying equipment market through 2021.
Leveraging on the benefits of freeze-dried food
The rising health benefits and better shelf life of freeze-dried food products have resulted in increased focus of food processing plants on expanding their product offerings using freeze-drying technology. For instance, in 2017, Glanbia – one of the largest cheese-making companies in the US – introduced the production of freeze-dried cheese by dehydrating fresh natural shredded cheese. This newly produced freeze-dried cheese contains higher protein compared with the standard cheddar cheese and can be used in many applications such as soups, nutrition bars and snack foods. These new product prospects offered to the food processing segment using freeze-dried cheese products is likely to boost the global food industry freeze-drying equipment market during the forecast period.
Technavio’s market research analysts predict that this market will register a revenue of more than US$1 billion by 2021, and that EMEA will be the major revenue contributor of the food industry freeze-drying equipment market throughout the forecast period. The increasing demand for convenient food products that offer extended storage life and more nutrition content, together with the wide expansion plans of food processing plants, will increase the demand for food industry freeze-drying equipment in the region.
The report, entitled Global Food Industry Freeze-drying Equipment Market 2017–2021, also includes a discussion of the key vendors operating in this market, such as Cuddon Freeze Dry, GEA Group, Kemelo and SPX FLOW.