Market Research Report
Bakery Processing Equipment Market Size By Type, By Application, COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 - 2027
|Bakery Processing Equipment Market Size By Type, By Application, COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 - 2027|
Published: October 18, 2021
Global Market Insights Inc.
Content info: 440 Pages
Delivery time: 2-3 business days
The bakery processing equipment market is expected to register robust growth by 2027 on account of increasing integration of automation and robotics in the food processing sector.
The ongoing COVID-19 pandemic has led to a surge in consumer interest in healthy and nutritious bakery products, such as wholegrain breads, multigrain baked goods, and other products with healthier ingredients. In addition, the lack of laborers due to pandemic-induced lockdown restrictions has spurred the adoption of automation and robotics in the food processing sector to accommodate mounting demand in the absence of factory staff.
Thus, the pandemic has accelerated the process of implementation of AI-based technologies in factories to improve production capacities, which has augmented product uptake in recent years. Additionally, growing emphasis on sustainable packaging and use of natural ingredients in baked products has propelled product demand.
To capitalize on emerging market trends, industry players are adopting lucrative strategies, which has positively impacted the global business outlook. For instance, in September 2021, Middleby Corporation, a key foodservice equipment provider, announced the acquisition of Imperial Commercial Cooking Equipment, a major manufacturer of specialty cooking equipment for commercial kitchen, including ovens, fryers, and other countertop products.
The deal enabled Middleby to enhance its product portfolio by leveraging Imperial's well-known commercial foodservice products. The complementing synergies of both the companies facilitated the expansion of Middleby's business reach and production capabilities.
Similarly, in October 2020, Schenck Process Group (SPG), a global applied measuring and process technology provider, announced the acquisition of Baker Perkins, a major food processing equipment manufacturer. The combination of both firms was intended to strengthen SPG's overall sales and facilitate the service and distribution of products in the food industry.
The bakery processing equipment market has been segmented on the basis of application, type, and region. In terms of type, the market has further been bifurcated into slicer, sheeters & molders, mixer, ovens & proofers, and others. The ovens & proofers sub-segment is projected to register a CAGR of around 4.6% over the review period in North America.
With respect to application, the market has been categorized into pizza, bread, tortilla, biscuits, pie/quiche, pastry, croissant, and flatbread. The pastry sub-segment accounted for a market share of more than 5% in 2020 and is slated to expand considerably through the forecast timeline. Escalating consumption of premium pastry products in cafes and restaurants is set to fuel product demand in the coming years.
From the regional point of view, the Middle East & Africa bakery processing equipment market is anticipated to gain significant traction over the assessment period on account of the booming tourism industry in the UAE.