Northbrook, IL -- (SBWire) -- 04/08/2019 --The report "Bakery Processing Equipment Market by Type (Mixers, Ovens & Proofers, Slicers), Application (Bread, Cookies & Biscuits, Cakes & Pastries), End User (Foodservice Industry and Bakery Processing Industry) and Region – Global Forecast to 2023" The bakery processing equipment market is estimated to account for nearly USD 8.0 billion in 2018 and is projected to reach a value of nearly USD 10.3 billion by 2023, growing at a CAGR of 5.2% from 2018. The growth of the bakery processing equipment market is attributed to the increasing trade of food processing equipment among countries such as Mexico, Brazil, Argentina, the UAE, India, and China. Bakery processing equipment helps in transforming raw ingredients into baked items through various physical and chemical techniques. The bakery processing equipment market is witnessing significant growth due to the increasing consumption of bakery products in developing countries such as India, China, South Africa, and Brazil, compelling manufacturers to increase production.
Browse 73 market data Tables and 55 Figures spread through 183 Pages and in-depth TOC on "Bakery Processing Equipment Market – Global Forecast to 2023"
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By end user, the bakery processing industry segment is estimated to account for the largest share in the bakery processing equipment market in 2018.
On the basis of end user, the bakery processing industry segment is estimated to dominate the bakery processing equipment market in 2018. In recent years, China is being observed as an emerging country in the bakery processing equipment market due to the growing demand for specialized and innovative bakery products. The industrial bakeries use automated bakery machinery, while artisanal bakeries use smaller bakery equipment.
By type, the sheeters & molders segment is projected to be the fastest-growing segment during the forecast period in the bakery processing equipment market
During the forecast period, the sheeters & molders segment is projected to grow at the highest CAGR in the bakery processing equipment market, in terms of value. Sheeters are rolling machines that are durable and enable accurate and constant production of bakery products. Dough sheeters are also key equipment used in the baking industry, which allows the baking product companies to produce large quantities of dough in less working time, along with maintaining the quality of handmade and commercial bakery products. Bakery equipment companies are launching innovative baking molds to smoothen the molding process for bakery products in the commercial industry. For instance, in August 2018, Silpat, a manufacturer of nonstick baking mats, launched a line of Perfect Baking Molds in different shapes such as mini loaf, tartlet, mini muffin, classic muffin, and madeleine.
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The Asia Pacific is estimated to dominate the bakery processing equipment processing market in 2018.
The Asia Pacific is estimated to account for the largest market share in the bakery processing equipment processing market in 2018. This market is driven by the growing demand for processed food products in developing countries such as India, China, and Australia. In the Asia Pacific region, China was the largest market for bakery processing equipment in 2017. The growth of the industries in the region over the years, followed by improvements in the bakery industry, has created new opportunities for the manufacturers in the bakery processing equipment market. The growing middle-class population of the region, with increasing disposable income, and demand for bakery items that offer on-the-go consumption, are driving the growth of the bakery processing equipment market. The per capita consumption of bakery processing equipment in the Asia Pacific region is driven by emerging economies such as China, India, and Indonesia.
This report includes a study of marketing and development strategies, along with the product portfolios of the leading companies in the bakery processing equipment market. It includes the profiles of leading companies such as GEA Group AG (Germany), Bühler (Switzerland), John Bean Technologies Corporation (US), Heat and Control (US), Rheon Automatic Machinery (Japan), Markel Food Group (US), Baker Perkins (UK), Anko Food Machine (Taiwan), Gemini Bakery Equipment (US), Allied Bakery Equipment (US), Global Bakery Solutions (UK), and Erica Record LLC (US).
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Bakery Processing Equipment Market Worth $10.3 Billion by 2023
Increasing focus on the expansion of facilities, marketing schemes, and information exchange programs to create awareness and enhance the applications of bakery processing equipment is projected to contribute to the growth of the market.