Bakery Processing Equipment Market Report Up to 2031
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The increasing urbanization coupled with the rising living standards and increasing population from the developing region is accentuating the demand for bakery processing equipment market.
COVID-19 Impact on Bakery Processing Equipment Market
The coronavirus pandemic has resulted in slow down across various industrial manufacturing sectors and impacted the bakery processing equipment market. The government across various countries have imposed cross border trade restrictions, social distancing norms and forced the manufacturing plants to work below their full capacity, which has considerably reduced the burden of production. Additionally, most of the companies are experiencing financial crisis owing to which they are less likely to invest in the purchase of bakery processing equipment, as they are highly priced. The industry players however are trying to compensate the losses by adopting new business strategies and being creative.
Increase in the number of artisan bakeries and quick service restaurants
The number of artisan bakery have increased considerably over past few years with rising consumer preference approximately 80% of them are perceiving artisan bakery products as fresh bakery and rates high in terms of taste. U.S. is one of the countries that have experienced the highest number of openings of artisan bakery since 2016. The U.S. fresh bread market is expected to generate revenue of US$ 16.8 billion by the 2025, with increasing consumer demand for fresh, healthier and more nutritious product. The online food ordering trend has led players in food service industry to use machines and equipment that helps in easing the manufacturing process. Additionally, the number of quick service restaurants grew by approximately 20.2% over a past decade. Moreover, most of the Asian countries have also experienced rise in the number of artisan bakery outlets. This has increased the overall demand for bakery processing equipment across the globe.
Increasing demand for packaged and processed food items
The increase in disposable income coupled with urbanization and increasing consumer shift towards online food services is fuelling the demand for packaged and processed food that leads to a higher demand for processing equipment. Additionally, the appetite for packaged food increased considerably in India during the lockdown period as people crave a break from the home food. In 2018, India exported processed food and related products worth US$ 59 Bn and the country’s food processing industry accounts of 32% of the overall food market, driven by the changing consumer trends in the market. Additionally, the food supply in U.S. was highly dominated by the highly-processed packaged food in 2018, and is expected to witness similar trend throughout the forecast period. The demand for processed and packaged food is increasing worldwide and can be fulfilled by using the advanced machinery across the value chain, which is driving the demand for bakery processing equipment.
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Increasing support for infrastructure development from the developing economies
The government across key developing regions are undertaking initiatives to improve the manufacturing sectors of their country. Various policies, schemes, funds and grants are planned to help manufacturers set up their plant in these regions. ‘Make in India’ and ‘Make in China 2025’ are few programs launched by the governments of respective nation to boost the manufacturing sector of the countries. Moreover, in April 2020, the government of India is initiated a move to improve the exports from micro, small and medium enterprises by setting up an MSME Gateway, which is a unique digital platform that helps the industries in these sector to do business with SMEs across the world. The system is launched in different languages and the government also established 100 export facilitation council to boost the exports through MSME sector. This will help the small and medium size bakeries to expand their business, which in turn will increase the market demand for bakery processing equipment.
Growing investments in the technologies to update the bakery processing equipment
Various technologies such as artificial intelligence (AI), automation, sensor technology, machine learning and Internet of Things (IoT) among others are being used to improve the processing and operations across the production line in bakery processing. Automation in the manufacturing of bakery products help in reducing the time required for final output, reduces the human error and costs by eliminating the need for labor. Moreover, the increasing fast food outlets and quick service restaurants require fast delivery time with improved efficiency that can be achieved using automation in the manufacturing process. Additionally, AI is being used in the manufacturing sector to digitally transform operations and to make prompt data-driven decisions by limiting the human involvement. The increasing R&D in the technology aspect of manufacturing is expected to fuel the market for bakery processing equipment throughout the forecast period.
Some of the companies profiled in the report include GEA Group, RHEON Automatic Machinery Co. Ltd., Baker Perkins Limited, Heat and Control, Inc., Bühler, Markel Food Group, Anko Food Machine Co., Ltd., and Gemini Bakery Equipment Company among others. Strategies such as new product development, partnerships, mergers and acquisitions and expansion among others are being adopted by the key players in the market. For instance, in September 2019, GEA Group showcased their a range of equipment for bakery and snacks including Callifreeze, at the International Baking Industry Exposition (IBIE) in Las Vegas, US.
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