Global population has been increasing over the years constantly. As a result, the demand for food and beverages has also shot up. Further, easy access to internet and social media has made people aware about several new aspects about food and beverages. This has opened gateways for many food products. One of them is spray dried food products. The global spray dried food market has registered significant growth in the last few years and is projected to grow at a fruitful rate in the coming years.
An upcoming Transparency Market Research report provides details on the current and upcoming growth trajectory of the global spray dried food market. It delves into the details of the current market, its key drivers and challenges, opportunities, and forecasts for 2018-2026.
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Global Spray Dried Food Market: Trends and Restraints
Spray drying is a process of producing powder out of a liquid or a slurry like material. The commonly found spray dried foods are coffee, milk powder, tea, nutraceuticals, eggs, cereals, starch, enzymes, and vitamins. Most of these products are used in daily routine across the world. This forms the basis for growth in the global spray dried food market.
With rising awareness about health and nutrition, especially among economically developing population, the demand for spray dried food items will increase. Products like milk powder, eggs, nutraceuticals, enzymes, and vitamins will drive demand in the global spray dried food market.
At the same time, the thriving tourism industry will open new opportunities for players in the global spray dried food market. With the travel and tourism industry booming, the need for milk powder, tea, coffee, eggs, and cereals is growing tremendously. This will propel demand in the global spray dried food market.
Further innovation is another area that is instilling hope among players in the global spray dried food market. In order to meet the growing demand and improve quality, manufacturers of spray dryers are working on improving capacity of the equipment. This will fuel growth in the global spray dried food market in the future.
However, cost of production is a concern for players in the global spray dried food market. To bring down energy consumption and cost of equipment, companies are working on new technology. Soon, the market might see new products that may help meet these requirements too.
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Global Spray Dried Food Market: Geographical Distribution
Geographically, Asia Pacific holds the highest share in the global spray dried food market. The rising population and the growing consciousness about health and nutrition will spell growth in the global spray dried food market here. Developing nations like China and India where population is expected to drive demand in Asia Pacific. North America and Europe are expected to hold significant proportion of the global spray dried food market.
Global Spray Dried Food Market: Competitive Dynamics
There are several players in the global spray dried food market. Some of them are Ajinomoto Co., Drytech Industries, Nestle, Unilever, and Mercer Foods. The competition in the market is driven by innovation in equipment that reduces production cost. On the other hand, many players are acquiring regional counterparts to expand their presence in the global spray dried foods market.
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