LONDON — The latest market research report by Technavio on the global industrial bakery processing equipment market predicts a CAGR of above 7% during the period 2018-2022.
The report segments the global industrial bakery processing equipment market by application (bread and cookies and biscuits), by product (ovens and proofers, mixers and blenders, sheeters and molders, and dividers and rounders), and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global industrial bakery processing equipment market, according to Technavio food and beverage researchers:
- Rise in demand for frozen bakery products: a major market driver
- Advancements in manufacturing processes and technologies: emerging market trend
- EMEA dominated the global industrial bakery processing equipment market with 39% share in 2017
- In 2017, ovens and proofers held the highest market share of nearly 25%
Rise in demand for frozen bakery products: a major market driver
Globally, the rise in demand for frozen bakery products like frozen bread, frozen cake and pastries, frozen pizza crust, waffles, donuts, and cookies can be attributed to the growing demand for various convenience food products. Countries such as China, India, Brazil, Argentina, and Malaysia, are a few potential markets for frozen bakery products. The global change in lifestyle and dietary habits led to an increase in acceptance of food products such as frozen bakery products. Freezing retains freshness and quality of bakery products. The demand for various frozen bakery products has increased owing to the rising preference of consumers for nutritious and appealing products with long shelf lives, enhanced taste, and quality.
The high demand for ready-to-bake and ready-to-thaw frozen bakery products is also expected to fuel the growth of the market. Frozen pizza products are one of the most popular products among customers, and it includes frozen pizzas and frozen pizza crusts. The growth of supermarkets and bakery establishments has augmented the demand for consumer-ready frozen bakery products, globally. The demand for industrial bakery processing equipment is expected to increase due to the rising demand for frozen bakery products.
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Advancements in manufacturing processes and technologies: emerging market trend
The need for technological advancements is growing in the food and beverage industry for various processes. The constant advances in technology such as automation, Artificial Intelligence (AI), robotics, and the internet of things (IoT) have helped the food processing sector to be efficient, safe, and highly profitable.
According to a senior analyst at Technavio for research on food service, “Improved technologies reduce the need for human intervention. It will also significantly increase productivity, reducing operational errors, enhancing efficiency, and reducing costs associated with operations and wastage. It also aids in reducing production time, improving the effectiveness of equipment, and increasing return on investment.”
Global market opportunities
In terms of regional dominance, EMEA led the global industrial bakery processing equipment market, followed by the Americas and APAC in 2017. In EMEA, key players in the market are investing in modernization and expansion of their production facilities, which may lead to an increase in production and availability of new bakery processing equipment in the market. These changes are contributing to the growth of the industrial bakery processing equipment market in this region.
The Americas is expected to witness the highest growth in the global industrial bakery processing equipment market during the forecast period. The increasing investments in bakery processing equipment have resulted in the rise in expansions of bakery processing plants across the region. Constructions and expansions of such new plants will lead to an increase in demand for new bakery processing equipment, thereby driving the growth of the market in the region during the forecast period.
Source: Technavio