Deodorization Systems Market, 2023 by Edible Oil (Palm, Soybean, Sunflower, Groundnut), Component, Refining Method (Physical and Chemical), Operation (Batch, Semi, and Continuous), Technology - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 22, 2018--The “Deodorization Systems Market by Edible Oil (Palm, Soybean, Sunflower, Groundnut), Component, Refining Method (Physical and Chemical), Operation (Batch, Semi, and Continuous), Technology, and Region - Global Forecast to 2023” report has been added to ResearchAndMarkets.com’s offering.
The deodorization systems market is estimated at USD 3.4 billion in 2018 and projected to grow at a CAGR of 4.9%, to reach USD 4.3 billion by 2023.
The deodorization systems market is projected to grow at a CAGR of 4.9%; the key drivers include growth in the edible oils industry, growing demand for higher nutritional value in edible oils, and the technological developments to overcome process limitations. The growth of the deodorization systems market is driven by the rising demand for edible oils and the prospect of oils with higher nutritional value. The key drivers for market growth are the increasing production and consumption of edible oils in developing and developed nations and government intervention in boosting oil crop production which has had a positive impact on the market. The growing demand for edible oil has resulted in increased demand for deodorization systems. The Asia Pacific is expected to dominate the deodorization systems market during the forecast period.
The growing demand for deodorization systems for edible oils, fats, and shortenings is expected to boost the demand for deodorization systems in the region. Health awareness among consumers along with the growing R&D on healthier oils is expected to drive the market growth in the region. The region is expected to face challenges in the form of tariffs and regulations toward the imports of oilseeds, which is expected to hamper the demand for deodorization systems in the region. On the basis of edible oil, the deodorization systems market was led by the palm oil segment. The increase in the production rate of palm oil in markets in the Asia Pacific due to government intervention and global demand is the key driver for the rising demand. The high production volume and relatively low cost of the final product have made it attractive for commercial units who are utilizing the oil. The cost benefits of palm oil extend beyond applications, which include frying, baking, and other culinary functions. The oil also has a high smoke point which extends its use in commercial operations while the productivity of palm fruits helps in minimizing the cost of the produced oil. Based on operation, the continuous operation segment is estimated to account for the largest share in 2018. The increasing demand for mainstream edible oil is expected to fuel the demand for continuous systems. The demand for continuous systems is expected to increase during the forecast period due to the demand for higher capacity systems. 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. Based on refining method, the chemical refining segment is expected to be the fastest-growing during the forecast period. The chemical refining process involves the removal of free-fatty acids with the use of a chemical substance, which in this case, is caustic soda. The crude oil undergoes a degumming process, following which processing acids such as caustic soda are introduced to remove any underlying seed particles, carbohydrates, metal traces, or other impurities. The Asia Pacific is projected to be the fastest-growing market for the period considered for this study due to the rising disposable income and increase in demand for edible oils, along with the growing industrial base, leading to increased demand for deodorization systems in the region. In addition, the market is driven by the growing demand for beverages in developing countries such as India, China, Indonesia, and Malaysia.
Leading players profiled in this report:Alfa Laval AB Desmet Ballestra Crown Iron Works Compro International Zhengzhou Sunshine Machinery Co. Inc. Luohe Zhonzhiyuan Grains & Oil Machinery Co. Inc Myande Group Goyum Screw Press Pvt. Ltd. HUM Oil and Fat Technologies Andreotti Impianti S.p.A DVC Process Technologists Pvt. Ltd. Gianazza International S.p.A.
Key Topics Covered:
1 Introduction 2 Research Methodology 3 Executive Summary 4 Premium Insights 5 Market Overview 6 Deodorization Systems Market, By Component 7 Deodorization Systems Market, By Technology 8 Deodorization Systems Market, By Refining Method 9 Deodorization Systems Market, By Edible Oil 10 Deodorization Systems Market, By Operation 11 Deodorization Systems Market, By Region 12 Competitive Landscape 13 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/tb9dnn/deodorization?w=4
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Related Topics:Oils and Fats
INDUSTRY KEYWORD: HOME GOODS MANUFACTURING CHEMICALS/PLASTICS RETAIL OTHER RETAIL
SOURCE: Research and Markets
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PUB: 11/22/2018 11:24 AM/DISC: 11/22/2018 11:24 AM