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(Health-NewsWire.Net, November 17, 2021 ) The deodorization systems market is estimated to account for a value of USD 3.4 billion in 2018 and is projected to grow at a CAGR of 4.9% from 2018, to reach a value of USD 4.3 billion by 2023. Growing industrialization and rapid urbanization, growth in the oil industry, and growing demand for higher nutritional value in edible oil are some of the factors driving the growth of the deodorization systems market.
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By technology, the packed column segment is projected to be the fastest-growing segment in the deodorization systems market during the forecast period.
The packed column segment in the market is projected to be the fastest-growing segment as packed column technology employs a dual temperature system, which allows the deodorizer to operate in two different temperatures. This enables the system to achieve a better balance in terms of the residence time for deodorization, thereby allowing the deodorization equipment to process edible oils at various temperature and pressure requirements.
By refining method, the chemical refining segment is projected to dominate the deodorization systems during the forecast period.
The chemical refining segment is projected to hold the largest market share in the deodorization systems during the forecast period as it is relatively an efficient method for reducing the fatty acid content in the crude oil with higher boiling point. This method is used in order to treat the oil with high free fatty acid content.
By edible oil, the palm oil segment is projected to dominate the deodorization systems market during the forecast period.
The palm oil segment dominates the market as palm oil is easily refined and has lower costs. Palm oils have a high tocopherol content, which is favored by commercial industries as this results in better stability in the oils, thereby improving their shelf life. Indonesia and Malaysia are among the key players in the palm oil market
The increasing demand for deodorization systems in the Asia Pacific region is driving the growth of the deodorization systems market.
The Asia Pacific countries are witnessing increasing demand for deodorization solutions. High industrial growth potential and industry favorable policies, increasing demand for edible oil due to growing population, and increasing manufacturer participation through setting up of new refinery units have driven the market for deodorization systems in this region. Emerging markets such as China and India are the major suppliers of deodorization systems in this region.
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Key players in this 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). Major players in this market are focusing on increasing their market share and presence through new product launches & developments, investments, and partnerships. These companies have a strong presence in Asia Pacific and Europe. They also have manufacturing facilities along with strong distribution networks across these regions.
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