According to a report by The Brainy Insights, the global bakery processing equipment market was valued at USD 13.1 billion in 2022 and is projected to reach USD 24.3 billion by 2032, growing at a compound annual growth rate (CAGR) of 6.4% during the forecast period from 2023 to 2032.
Market Introduction: Bakery processing equipment encompasses machines and tools used in the production of various bakery items such as bread, cookies, pastries, cakes, biscuits, pizzas, and doughnuts. The production process involves steps like mixing, cooling, baking, extrusion, and enrobing. The rising demand for bakery products, driven by the fast-food industry’s growth and changing consumer lifestyles, has led to an increased need for efficient bakery processing equipment. Additionally, the adoption of automation and robotic technologies has enabled businesses to reduce production costs and manual labor expenses.
Recent Developments:
- April 2019: Middleby announced the acquisition of Standex Cooking Solutions Group, adding brands like Bakers Pride, Ultrafryer, and BKI to its portfolio.
- February 2018: Middleby completed the acquisition of Hinds-Bock Corporation, a manufacturer of bakery and food filling and depositing products, enhancing its baking and processing systems offerings.
Drivers:
- Advancements in Bakery Production Techniques: The bakery industry has seen significant growth due to convenience, affordability, health benefits, and increased demand for healthier fortified baked items with reduced levels of fat, sugar, and calories. The top three markets in the global bakery market are the United States, China, and Brazil, accounting for 30.8% of the global market share.
Restraints:
- High Equipment Costs: The substantial capital investment required for setting up bakery processing equipment and the associated maintenance costs can be prohibitive, especially for small and medium-sized enterprises. For instance, cookie and cracker producers in the United States spend over USD 800 million on energy each year, with an ordinary bread and roll bakery spending roughly USD 200,000 annually.
Opportunities:
- Rising Bakery Product Consumption: The increasing consumption of bakery products across all age groups is driving the demand for bakery processing equipment. Manufacturers are focusing on improving production efficiency in response to rising energy and labor costs, leading to a demand for novel automated bakery processing technologies that are more efficient and produce less food waste.
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Regional Segmentation Analysis:
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Asia Pacific: In 2022, the Asia Pacific region dominated the bakery processing equipment market, holding a 35.8% market revenue share. Factors contributing to this dominance include a growing population, rapid urbanization, and increasing affluence, leading to higher food consumption. Consumers in countries like India, China, and Japan prefer bakery products as snacks due to their hectic lifestyles. Imported bakery items are also in high demand in China due to their superior quality and packaging.
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North America: The region is expected to witness the fastest growth during the forecast period. Companies in North America are introducing limited-edition, nostalgic, and seasonal bakery products to attract consumers. This trend is anticipated to increase the demand for flexible bakery processing equipment capable of adjusting ingredients batch by batch. Additionally, there is a growing demand for frozen baked products, premium pastries, whole grain bakery items, and healthy snacks in the region.
The bakery processing equipment market is poised for significant growth, driven by advancements in production techniques, increasing consumption of bakery products, and the adoption of automation technologies. However, high equipment and maintenance costs may pose challenges, particularly for smaller enterprises. Regionally, Asia Pacific leads the market, with North America expected to experience rapid growth in the coming years.