Bakery Processing Equipment Market to Grow at a CAGR of 5.8% from 2023-2031, reaching US$ 29.1 Billion: TMR Study
Transparency Market Research
5 min read
Transparency Market Research
Consumers’ changing preferences towards healthier bakery products, is one of the major factors that is anticipated to escalate the market growth
Wilmington, Delaware, United States, March 31, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – The global bakery processing equipment market stood at US$ 17.6 billion in 2022 and the global market is projected to reach US$ 29.1 billion by 2031. The global industry is anticipated to expand at a CAGR of 5.8% between 2023 and 2031.
The market value of Bakery Processing Equipment is also increasing due to the growing demand for convenience food, as it enables bakery manufacturers to produce large quantities of bakery products quickly and efficiently. With the fast-paced lifestyle, people are increasingly opting for convenience food, such as bakery products, to save time.
Additionally, the bakery processing equipment industry is witnessing significant technological advancements, such as automation, which is accelerating the market's growth. The automation of bakery processing equipment helps in improving the production process's efficiency and reducing production time, which is expected to augment the market growth in the near future.
Furthermore, the growing number of bakery outlets worldwide is another factor fueling the market growth. An increase in the number of bakery outlets leads to an increase in demand for bakery products, which, in turn, drives the demand for bakery processing equipment.
In addition, the consumers' changing preferences towards healthier bakery products, such as gluten-free and organic products, are anticipated to augment the market share in the forthcoming years. Bakery processing equipment manufacturers are focusing on developing equipment that can produce these healthier bakery products, thereby fueling the market growth.
Besides, the bakery industry is growing rapidly worldwide, which is expected to propel the market growth. The increasing demand for bakery products, such as bread, cakes, pastries, and cookies, is driving the bakery industry's growth, which, in turn, is driving the demand for bakery processing equipment.
Globally, the governments are implementing regulations on food safety and hygiene, which is expected to stimulate the market growth. Bakery processing equipment that meets the regulatory standards is in high demand, and manufacturers are focusing on developing equipment that complies with the regulations.
On the basis of product type, ovens & proofers is likely to be most preferred, expected to expand at a significant rate.
Ovens & Proofers are essential equipment used in the baking process and are required in large numbers by bakeries and other food processing companies.
Based on the application, the bread segment is anticipated to constitute a significant share during the forecast period.
Bread consumption in APAC is growing rapidly due to rising urbanization and changing lifestyles.
Global Bakery Processing Equipment Market: Growth Drivers
The global bakery processing equipment market is projected to expand at a steady pace from 2023 to 2031 due to the increased demand for customized bakery products.
Another factor that is projected to augment the market growth includes the growing popularity of artisanal bakery products.
Additionally, the ongoing research and development activities in the Bakery Processing Equipment technology is a major factor that is anticipated to fuel the market prospects in the near future.
Global Bakery Processing Equipment Market: Regional Landscape
The Asia Pacific is expected to dominate the bakery processing equipment market during the forecast period.
The regional market is witnessing a rise, owing to increasing disposable income and growth in awareness about health among the people in the region.
Factors such as the rise in population, increase in urbanization, and change in consumer preferences are bolstering market statistics in the region.
Global Bakery Processing Equipment Market: Key Players
Some of the key market players in the global Bakery Processing Equipment market are:
Ali Group S.r.l.
Meyers Industries
Baker Perkins Limited
Buhler Group AG
GEA Group AG
Markel Food Group
Erika Record LLC
Gemini Bakery Equipment Company
JBT Corporation
Heat & Control Inc.
Rheon Automatic Machinery Co., Ltd.
Global Bakery Solutions Ltd.
Peerless Food Equipment
Allied Bakery Equipment
Competitive Landscape
Prominent players in the Bakery Processing Equipment industry are taking advantage of the rapidly increasing demand for Bakery Processing Equipment. To further their outreach, players are relying on collaborations, partnerships and acquisitions with existing small, medium and large-scale providers. Some prominent market developments are as follows:
In July 2021, Heat and Control Inc. announced the launch of its new Ishida Snacks bagmaker, which is designed for the packaging of a variety of snack products, including bakery snacks.
In June 2021, Middleby Corporation acquired Sveba Dahlen Group, a leading manufacturer of bakery ovens, proving technology, and dough handling equipment.
In April 2021, Bühler Group announced the launch of its new MaltomatTM5, a machine for the production of malted barley used in brewing and distilling.
Global Bakery Processing Equipment Market: Segmentation
Product Type
Mixers
Ovens & Proofers
Dividers
Sheeters & Molders
Others
Application
Bread
Cookies & Biscuits
Cakes & Pastries
Pizza Crusts
Others
Regions
North America
Europe
Asia Pacific
Middle East & Africa
South America
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