Yahoo Finance The Global Bakery Processing Equipment Market Report 2022: Market is Expected to Record a Value of USD 16.8 Billion in 2028, Rising at a CAGR of 5.3%
WASHINGTON, Jan. 19, 2022 (GLOBE NEWSWIRE) -- The Global Bakery Processing Equipment Market is estimated to reach USD 16.8 Billion by 2028, displaying a compound annual growth rate (CAGR) of 5.3% for the duration of the forecast period from 2022-2028. Since past few years, the global market has experienced steep growth in demand for bakery processing equipment and food industry. Food processing industries are enormously adopting the robotics and automation technologies for the production to minimize the supply and demand gap for food. The increased production capacity, enhanced quality control, smaller equipment footprints, and improved food safety are some of benefits offered by the robotics and automation technologies in food industry. Thus, consequently boosting the demand for Bakery Processing Equipment Market and driving market over the forecast period, states Vantage Market Research in a report, titled “Bakery Processing Equipment Market by Type (Oven, Mixer, Refrigerator, Others), by Application (Bread, Cookies & biscuits, Cakes & pastries), by End user (Foodservice industry, Bakery processing industry), by Region (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”. The market size sticks up at USD 11.2 Billion in 2021.
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The Report on Bakery Processing Equipment Market Highlights:
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Assessment of the market
Historic Data, Estimates and Forecast
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Market Overview:
Rising Demand for Bakery Products and Increasing Adoption of New Technology
The Global Bakery Processing Equipment Market growth is attributed to several benefits offered by using the advanced technology. Also, the spending power of population is increasing along with growing economy which is further anticipated to propel the market growth. Since past few decades, there is steep increase in demand for food. Changing trend words snacking is the major factor driving the Bakery Processing Equipment Market. This growth is owing to increased consumption of bakery products such as bread, cookies & biscuits, cakes & pastries, pizza crusts, among others.
Moreover, owing to the high demand from consumers, the manufacturers are focusing on increasing production by adoption of new technologies. Also, the increasing investments from key players and government is increasing. These factors are likely anticipated to boost the Bakery Processing Equipment Market growth over the forecast period.
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Increasing Population and Demand for Packed Foods (Bakery products such as bread, cookies & biscuits, cakes & pastries, pizza crusts, among others)
Since past few decades, number of populations is increasing tremendously leading to rise in demand for global food supply. Also, changing trend towards busy lifestyles is increasing adoption of ready-to-eat food products. Moreover, the changing trend towards snacking is increasing the demand for cookies & biscuits, bread, pizza crusts, cakes & pastries, among others. With such changing trend and increasing children population, among the other bakery products the demand for cookies & biscuits, and bread is increasing at its unprecedented level.
Additionally, the demand for pizza crust is increasing owing to snowballing demand for pizza from consumers as a healthy and convenience food. These factors are anticipated to increase the demand for bakery processing equipment such as mixers, ovens & proofers, slicers & dividers, sheeters & molders, among others; further boosting the market growth. However, high maintenance cost of equipment scan hampers the market growth over the forecast period.
Regional Analysis:
Asia Pacific to Rule the Bakery Processing Equipment Market
Asia Pacific is projected to hold the major portion for Bakery Processing Equipment Market and anticipated to grow at fastest Compound annual growth rate (CAGR) over the forecast period from 2022-2028. The market growth in the region is attributed to the presence of emerging economies in the region. Also, the presence of countries such as India and China, which are one of the most populated countries in the world is increasing the demand for bakery products, further increasing the demand for bakery processing equipment.
Also, increasing investments in food industry from government and several key players is further boosting the market growth over the forecast period.
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List of Prominent Players in the Bakery Processing Equipment Market:
Bühler (Switzerland)
GEA Group (Germany)
The Middleby Corporation (US)
JBT Corporation (US)
Rheon Automatic Machinery Co., Ltd (Japan)
Heat and Control, Inc. (US)
Ali Group (Italy)
Makel Food Group (US)
Baker Perkins (UK)
Gemini Bakery Equipment Company (US)
Anko Food Machine Co., Ltd. (Taiwan)
Global Bakery Solutions (UK)
Allied Bakery Equipment (US)
Erica Record LLC (US)
Key questions answered in the report:
Which regional market will show the highest and rapid growth?
Which are the top five players of the Bakery Processing Equipment Market?
How will the Bakery Processing Equipment Market change in the upcoming six years?
Which application and product will take a lion’s share of the Bakery Processing Equipment Market?
What are the Bakery Processing Equipment market drivers and restrictions?
What will be the CAGR and size of the Bakery Processing Equipment Market throughout the forecast period?
Recent Developments in the Industry:
1. In December 2020, Z Matik S.r.l. launched a new tabletop/bench sheeter, which is suitable for bakeries with limited space. The new sheeter can handle extensive range of doughs including Phyllo, short dough, doughnuts, biscuits, croissants, and puff pastries.
2. In February 2019, The Haas Group (Austria), which was acquired by Bühler (Switzerland), expanded in India by adding an oven manufacturing plant to its service and support facility in the country.
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This market titled “Bakery Processing Equipment Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below.
Report Attribute | Details |
Market Size in 2021 | USD 11.2 Billion |
Projected Market Size in 2028 | USD 16.8 Billion |
CAGR Growth Rate | CAGR of 5.3% from 2022 – 2028 |
Base Year | 2021 |
Historic Years | 2016 – 2020 |
Forecast Years | 2022 – 2028 |
Segments Covered | Type: - Oven, Mixer, Refrigerator, Others |
Quantitative Data - Units | Revenue in USD Million/Billion and CAGR from 2022 to 2028 |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
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