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Bakery processing equipment mkt to reach $11 billion at 8% CAGR by ’25
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Saturday, 24 August, 2019, 14 : 00 PM [IST]
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The bakery processing equipment market is expected to grow at a compound annual growth rate (CAGR) of eight per cent to exceed $11 billion by 2025. The increasing consumption of baked goods across the globe is driving the bakery processing equipment market growth. These were the findings of a new research report by GMI.
These systems are used in commercial food processing industries and industrial bakeries for producing a variety of baked goods, such as breads, cakes, pies, cookies, and crackers, at a larger scale. The demand for frozen bakery products is increasing in the emerging economies, including China, India, and Brazil, due to their low cost and easy availability.
According to the Federation of Bakers Ltd, the UK bread industry is valued at about 3.8 billion pounds annually, employing a large number of people to meet the growing supply across the nation.
The average bread consumption in the region per year is around 50kg per person. Amplifying the demand for bread will positively influence bakery processing equipment market outlook.
In terms of geographical expansion, the fast-growing food and beverage sector in North America has contributed immensely towards boosting the remuneration scale of the global bakery processing equipment industry.
There has been consistent adoption of highly advanced equipment to meet the massive bakery demand by leading food processing companies. According to reports, in 2018, the North American bakery processing equipment market share was estimated at $1.5 billion.
According to American Bakers Association, the baking industry in the US has an economic impact of nearly $153 billion. The US government has levied strict rules and regulations to ensure food safety across the country.
The change in consumer pattern towards healthy food consumption has led to enhanced bakery products such as multi-grain cookies, wheat bread, among several others.
The US food safety association has set up separate departments to monitor the safety and quality of food. The growing demand for safe and innovative bakery products, along with stringent safety norms, will reinforce the North American bakery processing equipment industry size.
The demand for ovens and proofers is increasing in commercial bakeries due to their efficient heating and baking capabilities and the ability to maintain the ideal temperature.
Companies are manufacturing a wide range of industrial ovens using advanced technologies to offer improved texture and crust as well as low-power consumption.
Manufacturers are developing oven systems in various shapes and sizes to meet the requirements of customers across the globe.
The increasing demand for breads, biscuits, and cookies in several countries will increase the adoption of ovens and proofers, contributing to the bakery processing equipment market growth.
The growing consumption of healthier bakery products that contain low levels of calories, sugar, and fat in North American countries, including the US and Canada, will drive the market growth.
The demand for cakes, pastries, and pies is increasing in the US due to the rise in consumer spending on premium bakery products.
Manufacturers are developing machines with hygienic designs due to the implementation of stringent regulations by the US government to ensure maximum food safety across the region.
Major players operating in the bakery processing equipment market include Baker Perkins Ltd, Markel Food Group, Ali Group S p A, Heat and Control, Inc, GEA Group and Buhler Group, etc.
These manufacturers are involved in launching new systems for specific application and capacity requirements. Additionally, companies are adopting strategies, such as mergers and acquisitions, collaborations, and partnerships, to expand their business operations.
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