Increasing consumer demand for bakery processing equipment market,market worth $19,555.1 million by 2024 at a CAGR of 6.6%
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.
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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.
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).
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2. Research Methodology
3. Executive Summary
4. Market Insights
4.2.1. Increasing Consumer Demand for Bakery Products
4.2.2. Advancement in Manufacturing Processes & Technologies
4.2.3. Increasing Focus of Manufacturers to Reduce Production Cost
4.3.1. High Cost of Equipment Due to its High Production Cost
4.4.1. Emerging Markets- Asia, Latin America, and Africa
4.5.1. Lack of Trained Labor Force
4.6. Regulatory Analysis-
4.6.2. International Standards
220.127.116.11. European Cen ‘C’ Standards for Food Machinery Safety
18.104.22.168. Hygienic Design and Construction Standards
22.214.171.124.1. European Hygienic Design Group (EHEDG)
126.96.36.199.2. NSF International
188.8.131.52.3. 3a Sanitary Standards Inc.
5. Bakery Processing Equipment Market, By Material Type
6. Bakery Processing Equipment Market, by Application
7. Food Processing Equipment Market, by Geography
8. Competitive Landscape
9. Company Profiles
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About Meticulous Research®
Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
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