Deodorization Systems Market Worth $4.3 Billion by 2023 - Exclusive Report by MarketsandMarkets

CHICAGO, November 15, 2018 /PRNewswire/ --

According to the new market research report "Deodorization Systems Market by Edible Oil (Palm, Soybean, Sunflower, Groundnut), Component, Refining Method (Physical and Chemical), Operation (Batch, Semi, and Continuous), Technology, and Region - Global Forecast to 2023", published by MarketsandMarkets, the Deodorization Systems Market is estimated at USD 3.4 billion in 2018 and is projected to reach USD 4.3 billion by 2023, at a CAGR of 4.9%. Factors such as the growing industrialization, increasing environmental concerns, growing consumer awareness, safety attached to it, and producers' inclination toward cost efficiency, and profitability from industries fuel the market growth. Imposition of stringent regulations on edible oil nutrition and price wars between manufacturers are projected to fuel the demand for deodorization systems. On account of these factors, the global market is projected to witness significant growth during the forecast period.

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The continuous segment is estimated to dominate the market with the largest share in 2018 

On the basis of operation, the continuous segment is estimated to account for a major market share in 2018. The continuous segment is witnessing significant growth due to the need for faster and larger capacity in the refining of edible oil, which is among the key drivers for demand. The efficiency offered by the system and the flexibility to automate different functions are also major factors fueling the demand for deodorization systems in the continuous operation segment.

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184 - Pages

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By refining method, the chemical segment is projected to account for the largest share of the market by 2023 

The chemical segment is projected to account for the largest share by 2023. The chemical refining process involves the removal of free-fatty acids with the use of a chemical substance, which in this case is caustic soda. The crude oil undergoes a degumming process, following which the processing acids such as caustic soda are introduced to remove any underlying seed particles, carbohydrates, metal traces, or other impurities.