(Entertainment-NewsWire.com, August 25, 2021 ) The Deodorization Systems Market is estimated to be valued at USD 3.4 billion in 2018 and is projected to reach a value of USD 4.3 billion by 2023, growing at a CAGR of 4.9% during the forecast period. Factors such as growing demand for higher nutritional value in edible oil and growing industrialization & rapid urbanization are driving the growth of this market.
The packed column segment, by technology, is estimated to account for a larger market share, in terms of value, in 2018
The packed column segment dominated the market for deodorization systems, by technology, as they offer many benefits to refiners including increased surface area and the flexibility in controlling the process flow. This segment also presents faster residence time compared to other technologies, which makes it a suitable choice for processing heat-sensitive oils such as algae oil, and fish oil that does not require to be completely deodorized.
The chemical refining segment is estimated to witness the fastest growth in the deodorization systems market, by refinery method, in 2018
The chemical refining segment of deodorization systems involves the removal of free-fatty acids with the use of a chemical substance. It is relatively an efficient method for reducing the fatty acid content in the crude oil with higher boiling point. This method is used in order to treat the oil with high free fatty acid content.
The palm oil segment, by edible oil, is estimated to account for the largest market share, by value, in 2018
Based on edible oil, the deodorization systems market is segmented into soybean oil, olive oil, peanut oil, rapeseed/ canola oil, sunflower oil, palm kernel pol, cottonseed oil, coconut oil, palm oil, and others which include linseed, corn, and sesame oils. The palm oil segment is estimated to hold the largest market share in 2018 as it is easily refined and has lower costs, which has made it popular with commercial food industries that utilize the oil in frying. Also, palm oils have a high tocopherol content, which is favored by commercial industries as this results in better stability in the oils, thereby improving their shelf life. Indonesia and Malaysia are among the key players in the palm oil market.
The upcoming demand for hybridization of algal oils with regular oils has created opportunities for deodorization systems manufacturers
The algal oils have yielded positive results and are witnessing increased acceptance by the general public as it is regarded healthy for human consumption. This has created opportunities for deodorization systems manufacturers to come up with latest technologies to meet the need of oil refiners. The high stability algal oil and oleic canola oils are being tested by TerraVia (US) and have shown promising results, which have accelerated the market prospects.
This report includes a study on the marketing and development strategies, along with a study on the product portfolios of the leading companies operating in the deodorization systems market and offering various deodorization solutions. It includes the profiles of leading companies such as Alfa Laval AB (Sweden), Desmet Ballestra (Belgium), Crown Iron Works (US), Compro International (Canada), Zhengzhou Sunshine Machinery Co. Inc. (China), Luohe Zhonzhiyuan Grains & Oil Machinery Co. Inc (China), Myande Group (China), Goyum Screw Press Pvt. Ltd. (India), HUM Oil and Fat Technologies (Turkey), Andreotti Impianti S.p.A (Italy), DVC Process Technologists Pvt. Ltd. (India), and Gianazza International S.p.A. (Italy).
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
