The Freeze Drying Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Freeze Drying Global Market Report 2024, 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.
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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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
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.
The freeze drying market report table of contents includes:
1. Executive Summary
- Freeze Drying Market Characteristics
- Freeze Drying Market Trends And Strategies
- Freeze Drying Market – Macro Economic Scenario
- Global Freeze Drying Market Size and Growth
. - Global Freeze Drying Market Competitive Benchmarking
- Global Freeze Drying Market Competitive Dashboard
- Key Mergers And Acquisitions In The Freeze Drying Market
- Freeze Drying Market Future Outlook and Potential Analysis
- Appendix
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