Technological Advancements Drive Bakery Processing Equipment Market

Posted by Ryan Shaw on December 3rd, 2019

According to a report by Grand View Research, Inc., the global Bakery Processing Equipment Market size was valued at USD 12.20 billion in 2018 and is estimated to register a CAGR of 6.1% during a forecast period (2019 - 2025). Growing demand for bakery products such as pastries, cakes, pizza crust, and bread is anticipated to fuel the growth of the market. Rising demand for upgraded equipment is driving the growth of the market further. In order to sustain high competition and capture greater market share, leading companies are focusing on technological advancements in bakery equipment and incorporating advanced technologies to develop efficient and innovative machinery.

On account of the presence of skilled workforce, highly developed technology companies, growing R&D initiatives, and advanced processing capabilities, the U.S. is one of the leading markets for bakery processing equipment. Based on equipment, oven and proofers accounted for the largest segment in the U.S. market. Molders and sheeters is anticipated to be the fastest growing segment over the coming years.

The market is anticipated to witness significant growth opportunities particularly in the Central and South America and Asia Pacific region due to high demand for frozen bakery products such as frozen pizza crust, frozen bread, and frozen pastries and cakes. Potential markets for frozen bakery products are countries such as China, India, Argentina, Australia, and Brazil.

Press Release: https://www.grandviewresearch.com/press-release/global-bakery-processing-equipment-market

Asia Pacific accounted for the largest share of the market in 2018 and is anticipated to grow at the fastest rate over the next few years. Factors expected to drive regional bakery processing equipment market include growing disposable income, rapid urbanization, and rising population along with high popularity of bakery products in the region.

The region of North America is expected to witness growth over the coming years owing to rapid technological advancements. Leading companies opt for R&D to provide for a wide range of applications and also facilitate automatic processing machinery and industrial automation.

Europe held the second largest market share in 2018 and is expected to expand at a CAGR of 4.6% over the forecast period. The government regulations and policies supporting the overall growth of food processing equipment industry is expected to favor the market in the region. Despite economic inflation, the region is expected to show a significant growth in the coming years.

Asia Pacific market is expected to witness a considerable growth owing to the availability of both cost effective manufacturing and skilled labor in the region. China is expected to remain a major market owing to increasing popularity of processed food, rapid industrialization, and demand for consumer goods.

The companies are heavily investing in R&D activities and innovation centers to gain competitive edge. Key players in the bakery processing equipment market include Baker Perkins, Ali Group, Bühler, GEA Group, Markel, John Bean Technologies Corporation, Middleby Corporation, Heat and Control, Anko Food Machine, Rheon Automatic Machinery, Gemini Bakery Equipment, Global Bakery Solutions, and Allied Bakery Equipment.