LONDON--(BUSINESS WIRE)--The latest market research report by Technavio on the global confectionery and candy processing equipment market predicts a CAGR of close to 7% during the period 2018-2022.
The report segments the global confectionery and candy processing equipment market by product, including coating and enrobing equipment, tempering equipment, forming and depositing equipment, and extrusion equipment and by geography, including the Americas, EMEA, and APAC. It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global confectionery and candy processing equipment market, according to Technavio food and beverage researchers:
- Expansion of confectionery and candy processing plants: a major market driver
- Rising usage of robotic process automation in confectionery and candy processing industry: emerging market trend
- The Americas dominated the global confectionery and candy processing equipment market with 38% share in 2017
- In 2017, coating and enrobing equipment held the highest market share of nearly 24%
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Expansion of confectionery and candy processing plants: a major market driver
In different regions, companies are engaging in expansion of their confectionery and candy processing plants. At the same time, they are trying to expand their production capacities into new markets to increase their sales and profits. Such expansions will help to increase the demand for confectionery and candy processing equipment and drive the market for new installations during the forecast period.
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Rising usage of robotic process automation in confectionery and candy processing industry: emerging market trend
Over the years, there has been an increase in deployment of robots in the food industry to reduce human involvement and improve efficiency and throughput. It also improves the precision and speed of processing and thereby reduces operational costs.
According to a senior analyst at Technavio for research on food service, “A complex robotic system may be controlled using a programmable logic controller, but a simple robotic system is operated without using a PLC. Some of the prominent players in the confectionery and candy processing equipment offer robotic technology for industrial end-users.”
Global market opportunities
Regarding regional dominance, the Americas led the global confectionery and candy processing equipment market, followed by EMEA and APAC in 2017. In the Americas, the increase in government support for confectionery and candy processing activities and the corresponding expansion of processing facilities has led to the dominance of this region. This factor is expected to propel the market growth of confectionery and candy processing equipment in this region in the coming years.
In EMEA, some of the confectionery and candy processing companies have been focusing on mergers and acquisitions to strengthen their presence in the market. These acquisitions will aid in augmenting the production capacities of the companies involved, which would lead to a significant demand for confectionery and candy processing equipment.
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