(I-BusinessNews.Com, February 20, 2019 ) The deodorization systems market is expected to grow from USD 3.4 billion in 2018 to USD 4.3 billion by 2023, at a CAGR of 4.9%. The use of deodorization systems follows the market trend of increasing edible oil production, which has helped the industry evolve its systems through regulations and the requirement of healthier edible oils globally, thereby driving the growth of this market.
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By technology, the packed column segment is expected to be the largest contributor in the deodorization systems market during the forecast period
The deodorization systems market has been segmented, on the basis of technology, into thin film and packed column. The market for packed columns is expected to have the highest CAGR between 2018 and 2023. The system’s additional capacity and flexibility in use and the capability to retrofit additional components into the system are also key factors driving the growth for packed column technologies.
Government-backed production initiatives and the rising global demand are setting the stage for palm oil to dominate global edible oil market
The deodorization systems market is segmented on the basis of edible oils into soybean, olive, peanut, rapeseed/canola, sunflower, palm kernel, cottonseed, coconut, palm, and others. The market for palm oil is expected to have the highest CAGR between 2018 and 2023. The increased production of palm fruit and the support of the respective local governments have helped boost production. The high volume and lower cost compared to other oils have positively impacted the demand for the oil.
Higher efficiency, processing capacity, and ease of use are expected to positively impact the demand for continuous deodorization systems
The deodorization systems market is segmented on the basis of operation into batch, semi-continuous, and continuous systems. The market for continuous systems is expected to have the highest CAGR between 2018 and 2023. Continuous deodorization systems are designed for large capacity edible oil refinery units. These plants primarily operate a single feedstock and thereby require minimal operator involvement. Continuous deodorization systems are significantly easy to maintain, offer better heat recovery, have moderate investment costs, and are highly customizable depending on the customer’s requirement.
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Asia Pacific is expected to account for the largest market size during the forecast period
The Asia Pacific deodorization systems market is expected to grow at the highest CAGR during the forecast period. It is also the fastest-growing market for deodorization systems. The rise in disposable income in Asia Pacific countries has led to the increase in the demand for edible oils and premium oils, which, in turn, has fueled the growth of the deodorization systems market in this region. The Asia Pacific continues to dominate the global market for deodorization systems. The increasing penetration of deodorization systems and the influx of global players, along with the emergence of native players, are contributing to the growth of this market.
Key players in the market include 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). These players are undertaking a strategy involving new product developments & launches and investments to improve their market position and extend their competitive advantage.
Recent Developments:
1. In May 2018, Myande Group launched a 3D design application for its oil and fat engineering products, which included all technologies and derivatives associated with the market. The launch of 3D design applications would ensure a faster and more accurate design process aimed toward eliminating any design errors and improving client interaction to ensure smoother workflow, observe dynamic changes, and highlight future problems.
2. In April 2018, Desmet Ballestra announced its plan to invest in the R&D department to develop new sustainable processes, optimize designs & yields, improve health & safety standards, and test new customer applications.
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