PUBLISHER: Acute Market Reports | PRODUCT CODE: 1166613
PUBLISHER: Acute Market Reports | PRODUCT CODE: 1166613
The global bakery processing equipment market was valued at US$ 13.44 Bn in 2021 and is expected to witness a noteworthy growth, expanding at a CAGR of 7.0% during the forecast period. Bakery industry has a significant position in the food processing industry. Growth in the production of bakery products is mainly attributed to its advantages over other processed food items. Bakery products are considered as convenient, ready to eat and possess satisfactory nutritional levels and thus have become essential food items of the vast majority of population.
The global bakery industry is transforming and changing at a rapid pace which in turn is supporting the growth of global bakery processing equipment market worldwide. In a view of the low price of bakery food items, rapid growth coupled with the changing eating habits of people, has gained popularity among the masses. The growth of these products have been tremendous in both the developed and developing regions across the globe. As a result, rising consumer demand for baked food products is the most important factor driving the global bakery processing equipment market worldwide.
The food processing sector has evolved tremendously in the recent years, providing avenues to the integration of advanced technologies like internet of things (IoT), artificial intelligence, and automation. Advancements in technologies and manufacturing processes are some of the key trends observed in the bakery processing equipment market. Introduction of enhanced technologies particularly aids to reduce human intervention thereby reducing the operational cost and increasing the productivity.
Based on the equipment type, sheeters & molders garnered the largest market share in 2021 and is likely to continue its supremacy in the years to come. Sheeters and molders are used for preparing bakery products of varied size, shape and style. A dough sheeter is responsible for increasing the baker's consistency and efficiency by flattening the dough into very thin crusts. Whereas, bakery molders mold or forms the dough into the desired size and shape. Sheeters and molders are the bakery processing equipment of the modern bakery industry. High growth of this equipment is due to the increasing demand from bakery products manufacturers all across the world.
The global bakery processing equipment market, on the basis of geography was led by Asia Pacific in 2021 and is expected to remain dominant throughout the forecast period. In the Asia Pacific region, China accounted for the largest share in the bakery processing equipment market. The country has been continuously focusing on developing newer products and advanced technologies in the baking industry. Growing awareness among consumers about fat-free and low calorie bakery products is increasing in the country. As a result, demand for healthy bakery products is facilitating the need of specialized product development, which in turn is driving the market growth in the region.
Bakery processing equipment manufacturers are adopting strategies like new product development and partnerships to cater the needs of their customers and gain competitive advantage over other players. The major players in the bakery processing equipment market include Markel Food Group, ANKO Food Machine Co., Ltd., Bongard, Briggs of Burton Plc, GEA Group, John Bean Technologies Corporation (JBT), MECATHERM, Meyer Industries, Nichimo Co., Ltd., Buhler AG, Ali Group S.r.l., Heat and Control, Inc., RHEON Automatic Machinery Co., Ltd., Baker Perkins among others.
This study report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Bakery Processing Equipment market are as follows:
Micro and macro environment factors that are currently influencing the Bakery Processing Equipment market and their expected impact during the forecast period.
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.