The factors such as product innovation and healthier products & ingredients are fueling the market growth in these regions. Emerging markets such as Latin America, Middle/East Africa, and Asia also represents a great market potential as western lifestyles and eating habits continue to be adopted in these regions. As a result, the global bakery processing equipment market has experienced consistent growth over the years.
Meticulous Research® – leading global market research company published a research report titled “Bakery Processing Equipment Market by Type (Oven & Proofers, Dough Maker, Dough Sheeter, Dough Divider and Rounder, Depositors), Application (Bread, Biscuit Cookies, Cake, Pizza Crust), and Geography – Global Forecast to 2024”.
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According to this latest publication from Meticulous Research®, the global bakery processing equipment market is expected to grow at a CAGR of 6.6% from 2018 to reach $19,555.1 million by 2024. The growth of this market is driven by factors such as increasing consumer demand for bakery products, advancement in manufacturing processes and technologies, and increasing focus of manufacturers to reduce production cost. Moreover, emerging economies, particularly South East Asia, Latin America, and Africa are boosting the growth of bakery processing equipment market and holds huge potential for future growth. However, high cost of equipment due to its high production cost hinders the growth of this market to some extent.
The global bakery processing equipment market study presents historical market data in terms of values (2016 and 2017), estimated current data (2018), and forecasts for 2024-by type (oven and proofers, dough maker, dough sheeter, dough divider rounder, depositors), and application (bread, biscuit cookies, cake, pizza crust). The study also evaluates industry competitors and analyzes the market at regional and country level.
On the basis of type, ovens and proofers commanded the largest share of the global bakery processing equipment market, mainly due to increased productivity of bakery industry and large-scale development in the oven heating technologies and processes of baking. However, moulders and sheeters segment is expected to witness a rapid growth during the forecast period, primarily due to growing demand for innovative bakery products.
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On the basis of application, bread application segment dominated the global market in 2017 as there is large production of bread being one of the leading staple foods worldwide. However, pizza crust application segment is expected to witness a rapid growth during the forecast period in the global bakery processing equipment market. The rapid growth of this segment is mainly attributed to the increasing westernization and consumption of pizza worldwide.
This research report analyzes major geographies and provides comprehensive analysis of North America (U.S. and Canada), Europe (Germany, France, Italy, U.K., Spain, the Netherlands, and RoE), Asia-Pacific (China, India, Japan, Australia, and RoAPAC), Latin America (Brazil, Mexico, Argentina, and RoLATAM), and Middle East & Africa. Asia-Pacific commanded the largest share of the global bakery processing equipment market in 2017, followed by Europe and North America. The largest share of this region is mainly attributed to increasing demand of bakery products in emerging and developing countries including India, China, Indonesia, and Thailand; rising investments from major players; growing industrialization; and government support to promote bakery processing sector. Moreover, factors such as increasing urbanization, health awareness, and disposable income further support the growth of this region. The demand for bakery processing equipment in Latin America is relatively high as compared to Europe and North America, which is majorly driven by Brazil and Argentina.
The major players operating in the global bakery processing equipment market are GEA Group Aktiengesellschaft (Germany), Ali Group S.R.L. a Socio Unico (Italy), Heat and Control, Inc. (U.S.), The Middleby Corporation (U.S.), John Bean Technologies Corporation (U.S.), Baker Perkins Limited (U.K.), Rheon Automatic Machinery Co. Ltd. (Japan), Sinmag Equipment Corporation (Taiwan), Markel Ventures Inc. (U.S.), Koenig Maschinen GmbH (Austria), WP Bakery Group (Germany), and GBT GmbH (Germany).
Key questions answered in the report-
- Which are the high growth market segments in terms of types, application, and region/countries?
- What was the historical market for bakery processing equipment across the globe?
- What are the market forecasts and estimates for the period 2018-2024?
- What are the major drivers, restraints, opportunities, and challenges in the global bakery processing equipment market?
- Who are the major players in the global bakery processing equipment market?
- How is the competitive landscape and who are the market leaders in the global bakery processing equipment market?
- What are the recent developments in the global bakery processing equipment market?
- What are the different strategies adopted by the major players in the global bakery processing equipment market?
- What are the geographical trends and high growth regions/ countries?
- Who are the local emerging players in the global bakery processing equipment market and how do they compete with the global players?
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