In the bakery sector, dough and bakery products like croissants, pretzel crusts, donuts, pretzels, cakes, and cookies are processed using bakery equipment. For processing bakery products, various equipment is utilized, such as bread systems, bread slicers, mixers, ovens and proofers, dividers and rounders, sheeters and molders, pan greasers, and depositors. These tools provide multi-shift production with high performance, consistently high product quality, cutting-edge control systems, hygienic standards, quick cleaning, and minimal maintenance requirements.
In 2021, the market bakery processing equipment was worth USD 13.02 billion, and by 2030 it will reach USD 21.82 billion, growing at a 5.91% CAGR during the forecast period.
Factors such as changing lifestyles, rising demand for bakery products in emerging economies experiencing economic growth, rising health awareness among consumers across regions, etc., are expected to fuel growth in the bakery processing equipment market.
The main reason for the surge in demand for bakery products is that they are a part of people's daily lives. Most individuals in North America, Europe, and Asia Pacific prefer to eat bread, a variety of cakes, and other bakery goods in the morning.
Market Dynamics
Drivers
Major factors influencing the growth of the global bakery processing equipment market include rapid urbanization, a growing workforce, a busy lifestyle, a high spending capacity, and rising consumption of fast foods like pizza, sandwiches, burgers, and others in developed and developing nations. Another factor boosting revenue growth of the target market to a certain extent is the growing demand for premium and organic products free of trans fats, artificial colors or flavors, preservatives, and high-fructose corn syrup. This is due to the rising frequency of heart-related diseases, diabetes, and obesity. Other factors stimulating the growth of the target market include a rising preference for ready-to-eat and convenience food products and rising demand for fresh bakery products such as muffins, rolls, croissants, bagels, etc., globally due to health benefits.
Restraints
High maintenance costs, tight government regulations, and the requirement for strict adherence to international quality standards due to fouling and scaling of equipment are significant concerns that impede the growth of the target market.
Opportunity
Businesses operating in the target market can expect profitable revenue prospects due to customers' changing eating habits, growing tendency to westernize, and rising investment in R&D efforts for bakery processing equipment.
Market Segmentation
By Equipment
In 2022, the oven and proofers segment led the entire market with the largest revenue share of 42%. This is primarily because ovens and proofers are used more frequently to heat, bake, and turn dough into bread, cookies, biscuits, and other bakery goods. Additionally, the market's expansion is being accelerated by the increasing availability of ovens in various sizes and shapes that are outfitted with cutting-edge technology for low fuel consumption.
By Application
The bread segment was the biggest market in 2022, with a share of 40% due to the enormous demand for different types of bread, including buns, brioche, fruited loaves, baguettes, batons, etc., among consumers. According to the UK Flour Millers, nearly 11 million loaves of bread, or 99.8% of British households, purchase bread daily. Additionally, bread products are made using about 60% of the flour produced in the UK, which will aid in the market's expansion.
Regional Analysis
In the year 2022, Asia Pacific was the biggest regional market, with a share of 365.8%. The largest share is because the majority of millennials prefer processed food items, a growing middle class with more disposable income, a rise in health awareness, and an increase in foreign investment interest in the region. Positive growth prospects in China will result from expanding industrialization, infrastructural improvement, and greater investments in the food and beverage industry. China's economy benefits greatly from the food and beverage sector. So, throughout the projection period, the growth of the bakery processing equipment market will be driven by increased GDP contributions from the industrial and food & beverage industries.
Key Players
- JBT Corporation
- Koenig Maschinen GmbH
- Heat & Control, Inc.
- Ali Group S.r.l.
- Markel Food Group
- The Middleby Corporation.
- Bühler AG
- Anko Food Machine Co., Ltd.
- Baker Perkins Limited
- GEA Group Aktiengesellschaft
In 2021, the market bakery processing equipment was worth USD 13.02 billion, and by 2030 it will reach USD 21.82 billion, growing at a 5.91% CAGR during the forecast period. Increasing demand for packaged food products and ready-to-eat food products is boosting product demand over the forecast period due to their convenience and shelf life.
Related Reports:
Immunoassay Market Report - The global immunoassay market will witness a robust CAGR of 7.3%, valued at $24.30 billion in 2021, expected to appreciate and reach $45.82 billion by 2030, confirms Strategic Market Research.