Global Deodorization Systems Market 2019-2023| Increasing Industrialization to Drive Growth| Technavio

January 8, 2019

LONDON--(BUSINESS WIRE)--Jan 8, 2019--Technavio’s global deodorization systems market research report forecasts the market to grow at a CAGR of more than 5% during the forecast period.

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Technavio forecasts the global deodorization systems market to grow at a CAGR of more than 5% by 2023. (Graphic: Business Wire)

The growing industrialization in emerging countries will be one of the major trends in the during 2019-2023. There is an increased demand for deodorization systems due to rapid industrialization in emerging economies such as Brazil, Russia, India, China, and South Africa (BRICS). These systems are extensively used in food processing and other industries such as chemical, and paper and pulp industries.

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According to Technavio analysts, one of the key drivers for the global deodorization systems market is the increasing population driving demand for edible oil:

Global deodorization systems market: Increasing population driving demand for edible oil

The constant growth in population has led to a gradual increase in the demand for edible oil. As edible oil is predominantly used for the preparation of food, there is a direct relation between the demand for edible oil and population. The increasing consumption of fried food, particularly in emerging countries such as India and China, is driving the demand for edible oil.

According to a senior research analyst at Technavio, “The edible oils are usually extracted from plants and animal sources such as sunflower, palm kernel, cottonseed, and fish. The rising demand for edible oil has led to an increase in its production, extraction, and refining. Deodorization is one of the major processes during the manufacturing of edible oil. It helps in eliminating undesired fatty acids and other components from the oil and enhances its quality.”

Global deodorization systems market: Segmentation analysis

This global deodorization systems market analysis report provides market segmentation by operation (continuous deodorization systems, batch deodorization systems, and semi-continuous deodorization systems) and by region (the Americas, APAC, and EMEA). This report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

Of the three major segments by operation, the continuous deodorization systems segment held the largest deodorization systems market share in 2018, contributing to over 44% of the market. This segment will dominate the global market throughout the forecast period.

The APAC region held the largest share of the market in 2018, accounting for more than 43% share. It was followed by EMEA and the Americas respectively. The APAC region is expected to dominate the market throughout the period 2019-2023.

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Some of the key topics covered in the report include:

Market Landscape

Market ecosystem Market characteristics Market segmentation analysis

Market Sizing

Market definition Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Regional comparison Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

Vendors covered Vendor classification Market positioning of vendors Competitive scenario

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SOURCE: Technavio Research

Copyright Business Wire 2019.

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