(Food-Beverage-News.Com, March 29, 2019 ) The report "Deodorization Systems Market by Edible Oil (Palm, Soybean, Sunflower, Groundnut), Component, Refining Method (Physical and Chemical), Operation (Batch, Semi, and Continuous), Technology, and Region - Global Forecast to 2023", The deodorization systems market is estimated at USD 3.4 billion in 2018 and is projected to reach USD 4.3 billion by 2023, at a CAGR of 4.9%. Factors such as the growing industrialization, increasing environmental concerns, growing consumer awareness, safety attached to it, and producers’ inclination toward cost efficiency, and profitability from industries fuel the market growth. Imposition of stringent regulations on edible oil nutrition and price wars between manufacturers are projected to fuel the demand for deodorization systems. On account of these factors, the global market is projected to witness significant growth during the forecast period.
Browse 125 market data Tables and 61 Figures spread through 184 Pages and in-depth TOC on "Deodorization Systems Market - Global Forecast to 2023"
The continuous segment is estimated to dominate the market with the largest share in 2018
On the basis of operation, the continuous segment is estimated to account for a major market share in 2018. The continuous segment is witnessing significant growth due to the need for faster and larger capacity in the refining of edible oil, which is among the key drivers for demand. The efficiency offered by the system and the flexibility to automate different functions are also major factors fueling the demand for deodorization systems in the continuous operation segment.
By refining method, the chemical segment is projected to account for the largest share of the market by 2023
The chemical segment is projected to account for the largest share by 2023. The chemical refining process involves the removal of free-fatty acids with the use of a chemical substance, which in this case is caustic soda. The crude oil undergoes a degumming process, following which the processing acids such as caustic soda are introduced to remove any underlying seed particles, carbohydrates, metal traces, or other impurities.
The palm oil segment is estimated to dominate the market with a major share in 2018
The increasing production and demand for palm oil are fueling the market growth for deodorization systems, which is emerging as the dominant segment. The high demand from producers due to the oil’s cost advantages and reliance on its functions is aiding the growth of the deodorization systems market. The demand for palm oil is also fueled by its commercial nature and the ability to mix it with other types of oils. The oil’s wide range of applications from frying to baking make it a suitable candidate for use in multiple industries, thereby benefiting users.
The Asia Pacific is projected to witness the fastest growth during the forecast period
The deodorization systems market in the Asia Pacific is estimated to be the largest in 2017–18. The Asia Pacific market is also expected to be the fastest-growing during the forecast period due to the rapid urbanization, growing disposable income, and advancements in technology. The market in China dominated the Asia Pacific region due to the rapidly growing industrialization and investments in R&D. The region is expected to witness continued growth due to the increasing demand for edible oil and the export of equipment to other regions. The lower cost of manufacturing and availability of technology in the region help drive prospects for deodorization system manufacturers in the Asia Pacific.
This report includes a study of marketing and development strategies, along with the product portfolios of the leading companies. It includes the profiles of leading companies such as Alfa Laval AB (Sweden), Desmet Ballestra (Belgium), Crown Iron Works (US), Compro International (Canada), Zhengzhou Sunshine Machinery Co. Inc. (China), Luohe Zhonzhiyuan Grains & Oil Machinery Co. Inc (China), Myande Group (China), Goyum Screw Press Pvt. Ltd. (India), HUM Oil and Fat Technologies (Turkey), Andreotti Impianti S.p.A (Italy), DVC Process Technologists Pvt. Ltd. (India), and Gianazza International S.p.A. (Italy)
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact: Mr. Shelly Singh MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441 sales@marketsandmarkets.com
