The Bakery Processing Equipment Market Is Predicted To Reach USD 16.93 Billion By 2023 With A CAGR Of 7.5 % According To The Market Data Forecast

The Bakery Processing Equipment Market Is Predicted To Reach USD 16.93 Billion By 2023 With A CAGR Of 7.5 % According To The Market Data Forecast

ID: 2600 | October 2018 | Region: Global

The Bakery Processing Equipment Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report, Global Bakery Processing Equipment Market was worth USD 11.79 Billion in 2018 and is expected to reach USD 16.93 Billion by 2023 with a CAGR of 7.5 %. The market is segmented by Type (Ovens & Proofers, Mixers, Sheeters & Molders, Dividers, others), Application (Cookies & Biscuits, Bread, Pizza Crusts, Cakes & Pastries, other bakery products), and by Region - Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts (2016–2021). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.

Some of the factors like expanding middle-class population and rising disposable incomes in developing nations are driving the market. Increased preference for portably packed food portions and increasing demand for low-fat, gluten-free, nutritional foods and innovative flavors are also influencing the growth of the market. But, the market growth can be constrained by factors like scarcity of raw materials along with high costs of packaging and transportation, and the high sugar and carb levels in the baked products which lead to health problems.

Under Equipment types, Sheeters & Molders segment dominate the market in terms of value and is also projected to grow at higher CAGR than rest of the equipment types. Bread segment dominates the global market in terms of value due to bread being the choicest food in the world. Pizza Crusts segment is expected to grow at highest CAGR owing to the increased consumption of pizza worldwide.

Asia-Pacific accounted for the largest market share in the Bakery Processing Equipment followed by Europe and North America. The market is driven by increasing consumption of bakery products in emerging countries like India and China. The North America region is expected to be the fastest-growing region owing to the increasing investments from several multinational manufacturers.

Some of the major companies dominating the market, by their products and services include Ali Group S.p.A, Buhler holding AG, Heat and Control, Inc., GEA Group AG, and JBT Corporation.

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