What are the Known and Unknown Adjacencies Impacting the Food Deaerators Market

The global food deaerators market was valued at USD 270 million in 2018 and is projected to reach USD 363 million by 2023, at a CAGR of 6.1% from 2018 to 2023. The key drivers of the market are the increasing beverage consumption, the growing demand for convenience food products with an extended shelf life, and reduced side-effects of high-dissolved oxygen in beverages. Increasing capital consumption in the beverage industry and investments by governments in the food processing machinery & equipment industry is projected to create profitable growth opportunities for the market. However, low capital investment is projected to inhibit the market growth during the forecast period.

On the basis of type, the spray-tray type segment accounts for the largest market share in 2017. These equipment are large in size and provide enhanced storage capacity for food products. These deaerators are mainly used to support large industrial watertube boilers. In addition, manufacturers are increasingly utilizing these deaerators due to the growing requirement for wide operability to control and handle a fluctuating process. A horizontally oriented deaerator vessel is further used to accommodate large outlet capacities during food production.

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Based on function, the oxygen removal segment is projected to witness the fastest growth from 2018 to 2023. The oxygen removal function witnesses increasing demand to reduce the level of dissolved gases, particularly oxygen, and improve the thermal efficiency of the boiler by raising the water temperature. This function also helps in extending the shelf-life of food and beverage products.

Based on application, the beverage segment is projected to account for the highest market share during the forecast period. The demand for food deaerators is increasing due to the rising beverage consumption and growing health concerns among consumers. This has encouraged consumers to spend on non-alcoholic beverages such as functional beverages, which in turn, has led to rapid market growth.

The food deaerators market in the Asia Pacific is projected to witness the fastest growth between 2018 and 2023. The market is projected to underscore profitable growth opportunities in the beverage industry, which is a major factor influencing its growth. The food deaerators market has witnessed significant growth in the last five years, and this trend is projected to continue in the near future. In addition, increasing shelf-life of food products is projected to fuel the demand for food deaerators globally.

The global food deaerators market comprises some of the leading players, which include GEA Group (Germany), JBT Corporation (US), Alfa Laval (Sweden), SPX FLOW (US), Stork Thermeq B.V. (Netherlands), and Parker Boiler Co. (US). Key players are focusing on undertaking strategies such as acquisitions and expansions and offering application-specific and customized products to food & beverage manufacturers, which has widened the scope of growth in the market.

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The market is also segmented on the basis of region into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is projected to dominate in the food deaerators market throughout the forecast period. The increasing demand for food deaerators in the beverage industry is a major factor influencing the market growth. The food deaerators market has witnessed significant growth in the last five years, and this trend is projected to continue in the near future. Increasing shelf-life of food products is also projected to fuel the demand for food deaerators globally.

Marker Research Report Insights & Consulting.