Market Research Report
Confectionery Processing Equipment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
|Confectionery Processing Equipment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)|
Published: January 17, 2022
Mordor Intelligence Pvt Ltd
Content info: 90 Pages
Delivery time: 2-3 business days
The global confectionery processing equipment market is expected to witness a CAGR of 6.2% over the forecast period from 2019 to 2024.
The prevalence of confectionery consumption in regards to its consideration as a treat, with a meal or as a meal replacement, has led to a notion of regularity among most of the consumers across developed countries. This being said, the patterns of consumption of confectionery have also changed wherein, in Europe, the per capita consumption of confectionery is nearly more than seven kilograms, whereas in the US the candy consumption will go beyond three kilograms per person. Although, regulations such as sugar reduction programs in the U.K., have led the confectionery market to shrink a bit, however, manufacturers move towards incorporating natural sweetening agents as a replacement have again added momentum to the existing flow. On the other hand, the existence of such products is likely to remain limited over the forecast period, as more of the consumers will tend to look after the mouthfeel at first, rather than health concerns.
The European food processing equipment sector has witnessed significant progress over the past years, wherein, most of the imports come from within the region which is 2015, amounted to Euro 1.5 billion. On the other hand, citing the fact that the processing equipment sector demand to be high in the European region, the exports from developing countries have started to gain momentum lately.
Countries such as Germany, Netherlands, the United Kingdom among others, are avid consumers of confectionery products and have held the top spots in terms of consumption & confectionary exports. However, lately, the emergence of international brands in the market and an unachieved liberalization of European Agricultural markets has led to the shrinking of the European confectionery market alone, leading to a dwindling scenario in terms of industry competitiveness. Furthermore, as we move forward, the demand for European confectionery is expected to perform well in third world countries, where the population growth along with the factors of sweet indulgence, is anticipated to deliver positive extension in the region's confectionary equipment market.
The global market for confectionery processing equipment is fragmented and highly competitive. Major players operating in the segment are embarking for major market share and small regional players catering to their domestic demands. Players in the confectionery processing equipment segments are relying on providing customized solutions for confectionery manufacturers to stay ahead in the competition. The key global players are based in North America and Europe, while various small players are based in Asia-Pacific, South America, and Eastern Europe. The key strategies adopted by the players in the market are expansions, innovations, and new product launches.