Press release
Freeze Drying Market Report 2024: Size, Share, Trends And Outlook to 2033
Freeze Drying Market Report
Freeze Drying Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $11.25 billion In 2028 At A CAGR Of 10.8% :
The freeze drying market size has grown rapidly in recent years. It will grow from $6.7 billion in 2023 to $7.46 billion in 2024 at a compound annual growth rate (CAGR) of 11.3%. The growth in the historic period can be attributed to growth of virtual reality (vr) and augmented reality (ar), rise of mobile gaming, indie game development, global expansion of gaming industry, cross-platform compatibility.
The freeze drying market size is expected to see rapid growth in the next few years. It will grow to $11.25 billion in 2028 at a compound annual growth rate (CAGR) of 10.8%. The growth in the forecast period can be attributed to cloud gaming services, integration of artificial intelligence (ai), blockchain and nft integration, expansion of augmented reality (ar) gaming, focus on sustainabilit. Major trends in the forecast period include real-time ray tracing technology, technological advancements, cross-platform development, blockchain for in-game transactions, user-generated content (ugc) integration.
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Freeze Drying Market Major Segments
The freeze drying market covered in this report is segmented -
1) By Type: Tray-Style Freeze Dryers, Manifold Freeze Dryers, Shell (Rotary) Freeze Dryers
2) By Product: Bench Top Freeze Dryers, Laboratory Freeze Dryers, Mobile Freeze Dryers, General Purpose Freeze Dryers, Industrial Freeze Dryers, Other Products
3) By Scale of Operation: Industrial-Scale Lyophilization Equipment, Pilot-Scale Lyophilization Equipment, Laboratory-Scale Lyophilization Equipment
4) By Application: Biotechnology, Pharmaceuticals, Food Processing, Surgical Procedures, Other Applications
Key Driver - Ready-to-Eat Boom Drives Surge In Freeze Drying Market
The increasing demand for ready-to-eat foods is expected to propel the growth of the freeze drying market going forward. Ready-to-eat food is a meal that has been prepared and packaged before serving and requires no additional preparation or cooking. Freeze drying is used in ready-to-eat foods to remove moisture from food at low temperatures and under a vacuum, creating lightweight, shelf-stable products that retain their original qualities remarkably well. For instance, in 2022, according to the Ministry of Commerce & Industry, India, India's exports of ready-to-eat foods increased by 24% to $ 394 million in 2021-22 (April-October). Therefore, the increasing demand for ready-to-eat foods is driving the growth of the freeze drying market.
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Prominent Trend - Technological Advancements Drive Innovation In The Freeze-Drying Market
Major companies operating in the freeze-drying market are focusing on technologically advanced freeze drying technology to increase their profitability in the market. Freeze drying technology is a low-temperature dehydration process that involves freezing a product and lowering the pressure, thereby removing the ice by sublimation. For instance, in June 2021, SP Industries Inc., a US-based biotechnology and manufacturing company, launched the SP Hull LyoStar 4.0 R&D freeze dryer. The LyoStar 4.0 is a pilot-scale freeze dryer that offers superior shelf mapping, rapid shelf freezing, process accuracy, and reliability. It is specifically designed to facilitate scale-up and faster delivery of biopharmaceutical products to the market. The freeze dryer incorporates the latest innovations in freeze-drying technology and includes a suite of process analytical technology (PAT) tools to ensure precise process control and robust reliability. Additionally, it uses an eco-friendly refrigerant gas to reduce the carbon footprint involved in lyophilization.
Freeze Drying Market Players
Major companies operating in the freeze drying market report are GEA Group AG, Azbil Corporation, ULVAC Inc., IMA S.p.A., Tiermax Inc., Shanghai Tofflon Science Technology Co. Ltd., OPTIMA Packaging Group GmbH, BÜCHI Labortechnik AG, Telstar S.A.U. , HOF Sonderanlagenbau GmbH, LabTech S.r.l., SP Industries Inc., SiccaDania A/S , Freezedry Specialties Inc., Harvest Right LLC, Cryotech Deicing Technology, Cuddon Freeze Dry, Hosokawa Micron Corporation, Martin Christ Gefriertrocknungsanlagen GmbH, Yamato Scientific America Inc., Zirbus Technology GmbH, Millipore Corporation, Dara Pharma Group Ltd., MechaTech Systems Ltd., Labconco Corporation , Labstac LLC , Hudson Valley Lyo Mac Inc., Parker Freeze Dry Inc., Gardner Denver Inc., Millrock Technology Inc.
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the freeze drying market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the freeze drying market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Freeze Drying Market Report Structure
3. Freeze Drying Market Trends And Strategies
4. Freeze Drying Market - Macro Economic Scenario
5. Freeze Drying Market Size And Growth
…..
27. Freeze Drying Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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