Chocolate and Confectionery Processing Equipment Market Worth $6,971.8 million by 2024 at a CAGR of 8.0% - Says Meticulous Research�

Meticulous Research� - leading global market research company published a research report titled "Chocolate and Confectionery Equipment Market by Type (Depositors, Formers, Coating and Spraying Systems, Mixer, and Cooler), Application (Soft Confectionery, Hard Candies, Chewing Gums, and Gummies & Jellies), and Geography - Global Forecast to 2024?.

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According to this latest publication from Meticulous Research�, the global chocolate and confectionery processing equipment market is expected to grow at a CAGR of 8.0% from 2018 to reach $6,971.8 million by 2024. The growth of this market is mainly driven by factors such as increasing consumer demand for confectionery items, growth in retail industry, technological advancements, and growing focus on food safety of confectionery products and safety of workers. In addition, emerging economies such as Asia-Pacific, Latin America, and Middle East and Africa provides significant opportunity for the manufacturers in the global chocolate processing equipment market. However, high cost of equipment hinders the growth of this market to some extent. In addition, lack of trained labor force in many parts of the globe pose a great challenge to the global chocolate and confectionary processing equipment manufacturers.

The global chocolate and confectionery 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 (depositors, formers, coating and spraying systems, mixer, and cooler) and application (soft confectionery, hard candies, chewing gums, and gummies and jellies). The study also evaluates industry competitors and analyzes the market at regional and country level.

On the basis of type, depositors commanded the largest share of the global chocolate and confectionery processing equipment market in 2017 with significant development in the depositing technology to meet increasing market demand for high-quality and innovative products and increased demand for confectionery products from developing markets. However, coating and spraying systems market is expected to witness a rapid growth during the forecast period. The rapid growth of this market is primarily attributed to the increasing consumer's demand for a novel product and growing need for the combination of different textures and flavors in the product.

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On the basis of application, soft confectionery segment commanded the largest share of the global chocolate and confectionery processing equipment market in 2017, as it is one of the most consumed confectionery products by almost all age groups. Also, it is a key ingredient used in many food products. However, gummies and jellies segment expected to witness a significant growth during the forecast period, because of technological advancements in gum and jelly manufacturing; increase in the number of habitual gum chewers; growing consumer interest in functional gums; and aggressive product promotions.

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, Japan, India, Australia, and RoAPAC), Latin America (Brazil, Mexico, Argentina, and RoLATAM), and Middle East & Africa. Asia-Pacific commanded the largest share of the global chocolate and confectionery processing equipment market in 2017, followed by Europe and North America. The large share of this region is mainly attributed to increasing demand of functional and premium chocolate and confectionery products in emerging and developing countries including India, China, Indonesia, and Thailand; higher population base; and increasing expenditure on convenience and ready-to-eat products. Followed by Asia Pacific market, Europe has commanded the second largest share in the global chocolate and confectionery processing equipment market.

Key Players

The major players operating in the global chocolate and confectionery processing equipment market are Buhler AG (Switzerland), GEA Group Aktiengesellschaft (Germany), John Bean Technologies Corporation (U.S.), Heat and Control Inc. (U.S.), Alfa Laval AB (Sweden), Robert Bosch Packaging Technology GmbH (Germany), Aasted APS (Denmark), Baker Perkins Limited (U.K.), Tomric Systems, Inc (U.S.), Caotech B.V. (The Netherlands), Sollich KG (Germany), Apex Machinery & Equipment Co., Ltd. (China), Royal Duyvis Wiener B.V. (The Netherlands), Tecno 3 S.R.L. (Italy), and BCH Limited (U.K.), among others.

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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, with the help of its unique research methodologies, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa regions.

This release was published on openPR.