LONDON--(BUSINESS WIRE)--The global bakery and confectionery machinery market is expected to grow at a CAGR of about 7% during the forecast period, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the global bakery and confectionery machinery market for 2016-2020. By product type, this market is divided into packaging machinery and processing machinery.
Breads, chocolates, chewing gums, and biscuits are the most popular products in the bakery and confectionery market. The demand for other bakery products such as pastries, cakes, and cookies are also quickly growing. In mature markets, manufacturers are expanding their portfolios and experimenting with new products such as high-fiber biscuits, whole-wheat breads, sugar-free chewing gums for children, and gluten-free products. The hike in the income of consumers in developing countries is likely to drive the demand for bakery products, and this, in turn, will drive the global bakery and confectionery machinery market.
Technavio’s research study segments the global bakery and confectionery machinery market into the following regions:
- APAC
- EMEA
- Americas
APAC: largest bakery and confectionery machinery market
“It is estimated that during the forecast period, the bakery products machinery market in APAC will be the fastest growing market among all the other regions. In APAC, China and India are likely to dominate the market because they are the major producers and consumers of these products. India is the third largest bakery market in APAC, with a global sale volume of 49.5 billion tons, after Japan and Australia,” says Ajay Anjukumar, one of the lead analysts at Technavio for engineering tools research.
The confectionery machinery market in APAC will register a positive growth rate during the forecast period. So far, China and India have dominated the confectionery market in this region and are expected to continue the lead during the forecast period. The confectionery market is expected to reach USD 47.09 billion by 2020 in the region. The main drivers will be chocolate, sugar confectioneries, and gum.
Request a sample report: http://www.technavio.com/request-a-sample?report=54787
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
EMEA: dominated by industrial bakeries
The bakery market in Europe is divided into three segments — artisan, retail-instore, and industrial bakers. Industrial bakery dominated the market in 2015, accounting for more than 60% of the total share. Countries like Ireland, Sweden, and Estonia are leaders in this segment. While countries such as Greece, Italy, and Poland are dominated by artisan bakers. Advances in the bakery product packaging and processing market in Europe have essentially focused on barrier properties and propelled the demand for advanced bakery machinery.
The confectionery market in Western Europe is likely to have a growth in sales, but the growth rate of the market may stabilize or even decline during the forecast period. The rise in health consciousness among consumers led to a slight decline in the per capita consumption. Eastern Europe and MEA are likely to have a declining growth rate during the forecast period due to decrease in per capita consumption and fall in chocolate consumption. The growth in the bakery segment will likely balance the fall in confectionery and keep the market at a stable level.
Americas: mature market with competitive vendors
The global bakery packaging market in the Americas was dominated by the US in 2015. The market in the US is very competitive. In North America, California, Wisconsin, and Idaho generate the highest revenue for the bakery products market. Many of the key vendors in the bakery packaging and processing machinery market are from the US. The market in the country has witnessed a recent push toward sustainability and innovations. These factors will propel demand for bakery products, thereby leading to the growth of the bakery machinery market in the region.
“The confectionery machinery market in the Americas is mature and the US is the largest contributor to this market with more than 80% of the share. The increase in sale of chocolate and sugar-free confectionery has driven the growth of the market in this region. In Latin America, Brazil is the largest market for confectionaries. The bakery and confectionery machinery market is expected to reach USD 6.23 billion by 2020,” says Ajay.
The top vendors in the global bakery and confectionery machinery market highlighted in the report are:
- Anko Food Machine
- Bosch Packaging Technology
- Buhler
- GEA Group
Browse Related Reports:
- Global Bakery Packaging Market 2016-2020
- Global Bakery Market 2016-2020
- Global HVAC Insulation Market 2016-2020
Do you need a report on a market in a specific geographical cluster or country but can’t find what you’re looking for? Don’t worry, Technavio also takes client requests. Please contact enquiry@technavio.com with your requirements and our analysts will be happy to create a customized report just for you.
About Technavio
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
If you are interested in more information, please contact our media team at media@technavio.com.
