Global Deodorization Systems Market expected to reach US$ 5.2 Bn by the end of 2030 – FMI

 The global deodorization systems market size is expected to reach US$ 5.2 Bn by the end of 2030. According to a study by Future Market Insights (FMI), the market will show a steady rise at 3.4% CAGR between 2020 and 2030. According to the report, the market is anticipated to grow in the forecast period owing to improvements in the quality of deodorization system coupled with the increasing demand of the deodorizers from oil industries.

The report offers a comprehensive overview of the market, covering key growth drivers, restraints, opportunities, and prevailing trends. It uses unique research methods to offer the most accurate analysis of the market.

The increasing demand for edible oil for domestic use, rising demand for deodorizer distillates for industrial use and stringent regulations imposed on the production of oil are some of the key factors expected to boost the market in upcoming years.

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Deodorization method is used to remove volatile, odoriferous material present in the edible fats and oils. The technology aims at removing naturally occurring substances that cause unwanted smell and taste. Deodorizations are done in high temperature and are a high- vacuum steam distillation process. Steam distillation column, barometric condenser, demisters and scrubbers are the equipment used in the process of deodorization. They vaporise at high temperature, condense and stain surrounding surfaces.

Variation in Consumption Pattern Due to COVID-19 Outbreak will Impact Growth

As the coronavirus outbreak continues to develop, now is the time for food and beverage companies to consider response actions to help mitigate their risk and prepare for how they will deal with the fallout from the coronavirus. An effective plan should include establishing an interdisciplinary crisis response team to identify, assess and manage the risk presented. The team should include personnel from purchasing, operations, quality, regulatory, finance and legal. Coronavirus outbreak had a considerable impact on consumption pattern of buyers. This will invariably impact growth forecasts for the market.

“In terms of operation, the market is expected to witness high demand in the semi-continuous deodorization systems segment. It is also forecast to remain the leading segment through the course of the forecast period. Demand witnessed across these segments will prove crucial to the growth of the market,” said a lead analyst at FMI.

KEY RESEARCH FINDINGS

• Deodorization systems help in refining edible oils and fats. It’s a multi-step process which includes oil desecration, heating and cooling, deodorization-de acidification, and vapour scrubbing systems
• Coconut oil, palm oil, olive oil, mustard seed oil, peanut oil, soybean oil, and sunflower are some of the oil which can be refined by deodorization process
• Key factors contributing to the growth of the global deodorization systems market are growing environmental issues, rising industrialization, increasing market awareness and the inclination of producers towards cost-effectiveness
• The chemical processing industry is expected to account for the leading share in the global deodorisation systems market
• Among edible oil types, palm oil accounted for higher share the global deodorization systems market.
• The Asia Pacific market is expected to rise at the highest CAGR due to the remarkable expansion of the food and beverage and industry in countries such as India, China, Indonesia, Vietnam, South Korea, Thailand and Malaysia.

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It includes in-depth insights into the deodorization systems market. Some of these are:

• The estimated value of the market was at US$ 3.7 Bn in 2020. Through the course of the report’s forecast period, the market is exhibited to show a steady pace of growth.
• Asia Pacific accounts for the largest share in the global deodorization systems market due to the high industrial growth potential and industry favorable policies.
• The growth in manufacturing sector and upcoming demand for hybridization of algal oils with regular oils is likely to showcase growth opportunities for the deodorization system market during the forecast period.
• In the near future, the continuous segment will account for maximum share in the global demand for deodorization systems.
• Rising equipment exports and increased demand for edible oil are some of the main factors that will increase the growth of this market in the near future.

Competitive Landscape

Some of the players functioning in the global deodorization systems market include Desmet Ballestra (Belgium), Gianazza International S.p.A. (Italy), Crown Iron Works (US), DVC Process Technologists Pvt. Ltd. (India), Alfa Laval AB (Sweden), Zhengzhou Sunshine Machinery Co. Inc. (China), and Gianazza International S.p.A. (Italy). The manufacturers are highly focused on implementing creation and marketing strategy to stimulate this market’s growth.

Besides that, mergers and acquisitions continue to be a common strategy among market players. With strategic partnerships, corporations plan to extend their regional footprint.