The industrial dryers are used across various industries for drying commodities, chemicals and other materials. In the food processing industry, dryers are extensively used for drying fruits and vegetables, herbs, seasonings, grains, meat and other food products. The advantages of drying food products using industrial dryers are that it helps in preservation by removing moisture, reduces weight and volume for efficient storage and transportation. The growing demand for packaged and processed food from the expanding population has been fueling the growth of food processing industry worldwide. This in turn has been driving the demand for industrial dryers to efficiently dry large volumes of food products.

The Global Industrial Dryer Market Size is estimated to be valued at US$ 1.58 Bn in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

One of the key drivers for the growth of industrial dryer market has been the rising demand from food processing industry. As mentioned earlier, industrial dryers are extensively used for drying various food products like fruits, vegetables, herbs, meat etc. in large volumes within the food processing plants. With rapid urbanization and changing lifestyles, the demand for packaged, ready-to-eat and processed food products is surging worldwide. This has resulted in significant growth of food processing industry globally. According to data by the United Nation's Food and Agriculture Organization (FAO), the global processed food market is estimated to reach a value of $2 trillion by 2026. The exponential growth of food processing industry has been fueling the demand for industrial dryers for commercial-scale drying of large volumes of food and agricultural products efficiently within the required timelines.

Furthermore, industrial dryers offer advantages like uniform and fast drying resulting in improved product quality and shelf life. This has been attracting several food manufacturers globally to invest in advanced drying technologies. The rising investments in setting up new production facilities as well as expansion of existing food processing infrastructure is positively impacting the sales of industrial dryers. The global industrial dryer market is thus expected to gain significant growth opportunities over the forecast period driven by robust expansion of food processing industry.

SWOT Analysis

Strength: Industrial dryers offer benefits such as energy and cost-efficiency, enhanced consistency and quality of dried products. They allow continuous drying process and precise control over drying parameters. Industrial dryers also enable bulk production and come in customizable designs.

Weakness: High initial investment requirements for industrial dryers poses financial challenges for small businesses. Maintenance and operational costs of industrial dryers are also significant. Equipment upgrades needed to adapt to changing technological and regulatory standards increase expenses over time.

Opportunity: Growing demand for dried foods and ingredients from food processing industries drives the need for industrial dryers. Expanding applications of industrial drying in non-food sectors like chemicals and pharmaceuticals present new opportunities. Advancements in drying technologies enhancing energy-efficiency and automation also boost market prospects.

Threats: Stiff competition among industrial dryer manufacturers compels companies to frequently invest in product development and customization. Stringent government regulations regarding environmental standards and workplace safety compliance increase compliance costs. Volatility in raw material prices also poses threats.

Key Takeaways

The global industrial dryer market is expected to witness high growth. The global industrial dryer market is estimated to be valued at US$ 1.58 Bn in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period 2024 to 2031.

The industrial dryer market in North America accounted for leading share of over 30% of global revenue in 2024 due to advanced food processing sector and stringent safety regulations mandating usage of industrial dryers. Asia Pacific industrial dryer market is poised to witness growth at a CAGR of around 7.8% during the forecast period. Growth of food processing industry coupled with expansion of pharmaceutical sector in China and India is fuelling the regional market.

Key players operating in the industrial dryer market are PepsiCo, Inc., Nestle SA, The Coca-Cola Company, Groupe Danone, Abbott Laboratories, Bernard Food Industries, Inc, Zydus Wellness Ltd., Dr. Pepper Snapple Group Inc., McNeil Nutritionals LLC, Cargill, Incorporated, and Ajinomoto Co., Inc.

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