Freeze Drying Market Size, Share & Trends Analysis Report By Freezer Type (Tray-style Freeze Dryer, Manifold Freeze Dryer, Shell Freeze Dryer), By End-User (Food and Beverage, Pharmaceutical, Biotechnology, Others) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032

Market Overview

Freeze Drying Market Size will Grow at a CAGR of 7.1% During Forecast Period

Freeze drying, also known as lyophilization, is a process of removing water from a product after it is frozen and placed under a vacuum. This process allows the ice to convert from solid directly to vapor without passing through a liquid phase. The increase in demand for processed food due to hectic work-life balance and an increase in the global female workforce is expected to drive the freeze drying market growth.

Freeze drying is relatively expensive, and the equipment used in these processes is about three times compared to the equipment used in other separation processes. Also, they create high energy demands leading to utility costs. These factors are expected to hinder the market growth during the forecast period.

Market Dynamics

Regional Analysis

Developing Food Processing Industry to Drive the Asia-Pacific Market

The Asia-Pacific is expected to be the fastest-growing regional market for freeze drying during the forecast period. This trend in the growth of the regional market can be attributed to the presence of a strong food processing industry. Along with this, the significant rise in the working population and growing base of the female workforce across the developing economies of the regional market like India and China is further creating a robust demand for processed and frozen food products, owing to their busy lifestyle. Therefore, supporting the market growth of freeze drying in the food and beverages market.

The growing regional population, improving consumer spending, busy lifestyles, and rising health awareness has attracted various international players. The regional market players are focusing on expanding their operations on a large scale by adopting business strategies, like mergers, acquisitions, and collaborations. It is expected to unlock the growth potential for the market.

Growing Consumption of Processed and Convenience Food to Boost the North American Market

North America is projected to dominate the global freeze drying market during the forecast period. The growth can be due to the growing consumption of processed and convenience food. The mounting busy lifestyle of inhabitants with the well-established B2B and B2C sales channels in the region have further escalated the demand for this processed food across the market.

North America has the largest pharmaceutical market and is one of the major pharmaceutical exporters in the world. Pharmaceuticals products are prone to degradation when exposed to water and air.The pharmaceutical manufacturers and chemists can extend the shelf life of these products by using freeze-drying and storing it in a container free of oxygen and water. This concern to preserve the pharmaceutical products across the market boosts the regional market growth.

Growing Demand for On-the-Go and Convenience Foods Contribute to European Market

The demand for freeze drying in the European market is driven by the rise in the demand for on-the-go foods combined with a longer shelf life. And as the inhabitants in the region are demanding convenience food it has created a lucrative growth opportunity for the manufacturers and the exporters engaged in the food processing business to expand their business and meet the rising demand. This growth is further supported by the increasing popularity of the product owing to the ability to retain the original flavor and taste of the food product, while also providing a long shelf life. Therefore, further creating a need for freeze drying across the regional market.

Segmental Analysis

Tray-Style Freeze Dryer Segment to Dominate the Market

The tray freeze-dryers are more sophisticated dryers compared to the counterparts, used to dry a wide array of materials across both the pharmaceutical and food and beverage industry. Tray freeze-dryer allows the product to be frozen in place and performs unbound water removal and bound water removal freeze-drying, thus producing the driest possible end-products in long-term storage. Additionally, these dryers enable the operators to dry products in bulk, hence, widely used for long-term storage pharmaceutical products such as vaccines.

Food and Beverage Segment to Augment the Market Growth

Freeze drying gained popularity in food preservation during the early 2000s. This increase in the demand for the product across the sector can be attributed to three major trends that have reshaped the food and beverage industry in the last two decades.

• The rising demand for processed food owing to the hectic work schedule of individuals is prompting them to opt for refrigerated, frozen food, and canned food, increasing the demand for freeze drying equipment. According to the American Frozen Food Institute, the U.S. frozen food industry a USD 56.7 billion market in 2018 owing to factors, such as ease of inconvenience, preparation, and time-saving.
• The growing number of female workforce and nuclear families also contribute to the freeze drying market. Working women get less time for cooking which creates a demand for convenient foods like canned and frozen food. As per the U.S. Bureau of Labor Statistics, the number of the female workforce across the U.S. increased from 49.7% in 2018 to 50.04% in 2019. And a similar trend is being witnessed across the other markets, thus it is expected to increase the demand for processed food and consequently the market growth.
• One of the key advantages that have driven the demand for freeze drying is its ability to prolong the shelf life of nutritious food ingredients and make food products versatile, accessible, and convenient. The demand for shelf-stable food creates a need for these freeze drying process across the food and beverage sector.

Pharmaceutical Segment to Record Highest Growth

Freeze drying is widely used across the pharmaceutical industry to improve the stability and long-term storage stability of labile drugs, especially protein drugs. Among the list of FDA and EMA-approved biopharmaceutical products, approximately 50% are freeze-dried—this indicates the importance of the freeze-drying process in pharmaceuticals compared to other processes, despite the high cost and long processing time.

Increasing life expectancy, rising investments in R&D activities, surging foreign investments in the developing markets, and increasing customer spending have boosted the growth of the pharmaceutical industry in recent years. And as the prevalence of chronic diseases and obesity is rising at a concerning rate, it is adding to the demand for pharmaceutical products across the market.

According to the statistics represented by the World Health Organization (WHO), in 2016, over 1.9 billion were overweight globally. This causes the prominent players in the pharmaceutical industry to increase their production capacities, which contributes to market growth.

Impact of covid-19

Red phosphorus is commonly found in non-halogenated flame retardants. Due to the increased use of polymers in the automotive industry, there was a significant increase in demand for non-halogenated flame retardants prior to the COVID-19. The increased usage of polymers for electronic purposes in the automobile sector has supported this breakthrough. Prior to the pandemic, growing demand for red phosphorus in the mining, military, and construction industries drove the market.

The COVID-19 disaster wreaked havoc on a wide range of chemical industries, including the red phosphorus market. The COVID-19 pandemic and subsequent restrictions have impeded raw material imports, transit and freight movement, and supply chains. The absence of sufficient raw materials has produced a major supply-demand mismatch for medium and small-scale businesses.

Red phosphorus is utilized in various products, including fireworks, LEDs, explosives, fertilizer, and feed, among others. The closure of manufacturing operations, on the other hand, has resulted in a dramatic decline in demand for chemicals used in these plants. The advent of this life-threatening illness has harmed the overall expansion of the red phosphorus market growth.

Market Recovery Timeline and Challenge

Many items are seeing a demand reduction, and some businesses are barely making ends meet, particularly those with significant exposure to industries like automotive, oil and gas, and aerospace. Supply chains and other company activities are also experiencing significant delays due to border restrictions and travel bans.

Another concern is a lack of financial flow, with many customers delaying purchases or falling behind on payments, and commodities are tangled in disrupted supply networks. Meanwhile, massive healthcare reforms compel many companies to restructure their workforces, reorganize on-site employment, expand remote work, and reconsider customer service approaches and other practices.

Due to rising industrial demand, the red phosphorus market growth has recovered from the effects of the coronavirus. In response to the pandemic, government-imposed restrictions and lockdowns slowed industrial activity and reduced demand for red phosphorus in important end-use fields like automotive, construction, and electronics until the first half of 2020. Many of these industries have begun to revive in the first half of 2021; therefore, the red phosphorus market is predicted to expand in the following years. By 2023-2024, the red phosphorus market is predicted to rebound alongside these end-user industries.

Recent Developments