Meticulous Research® – leading global market research company published a research report titled “Bakery Processing Equipment Market by Type (Oven & Proofers, Dough Maker, Dough Sheeter, Dough Divider and Rounder, Depositors), Application (Bread, Biscuit Cookies, Cake, Pizza Crust), and Geography – Global Forecast to 2024”.
According to this latest publication from Meticulous Research®, the global bakery processing equipment market is expected to grow at a CAGR of 6.6% from 2018 to reach $19,555.1 million by 2024. The growth of this market is driven by factors such as increasing consumer demand for bakery products, advancement in manufacturing processes and technologies, and increasing focus of manufacturers to reduce production cost. Moreover, emerging economies, particularly South East Asia, Latin America, and Africa are boosting the growth of bakery processing equipment market and holds huge potential for future growth. However, high cost of equipment due to its high production cost hinders the growth of this market to some extent.
The global bakery processing equipment market study presents historical market data in terms of values (2016 and 2017), estimated current data (2018), and forecasts for 2024-by type (oven and proofers, dough maker, dough sheeter, dough divider rounder, depositors), and application (bread, biscuit cookies, cake, pizza crust). The study also evaluates industry competitors and analyzes the market at regional and country level.
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On the basis of type, ovens and proofers commanded the largest share of the global bakery processing equipment market, mainly due to increased productivity of bakery industry and large-scale development in the oven heating technologies and processes of baking. However, moulders and sheeters segment is expected to witness a rapid growth during the forecast period, primarily due to growing demand for innovative bakery products.
On the basis of application, bread application segment dominated the global market in 2017 as there is large production of bread being one of the leading staple foods worldwide. However, pizza crust application segment is expected to witness a rapid growth during the forecast period in the global bakery processing equipment market
The major players operating in the global bakery processing equipment market are GEA Group Aktiengesellschaft (Germany), Ali Group S.R.L. a Socio Unico (Italy), Heat and Control, Inc. (U.S.), The Middleby Corporation (U.S.), John Bean Technologies Corporation (U.S.), Baker Perkins Limited (U.K.), Rheon Automatic Machinery Co. Ltd. (Japan), Sinmag Equipment Corporation (Taiwan), Markel Ventures Inc. (U.S.), Koenig Maschinen GmbH (Austria), WP Bakery Group (Germany), and GBT GmbH (Germany).
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