(Entertainment-NewsWire.com, March 13, 2020 ) The global confectionery processing equipment market size is estimated to be valued at USD 4.69 Billion in 2018 and is projected to reach USD 6.55 Billion by 2023, at a CAGR of 6.90% from 2018. Factors such as growth of the retail industry and increase in demand for confectionery items such as candies, toffees, chocolates, chewing gums, and jellies have driven the growth of the confectionery processing equipment market.
Browse 61 market data Tables and 46 Figures spread through 143 Pages and in-depth TOC on "Confectionery Processing Equipment Market - Global Forecast to 2023"
The soft confectionery segment dominated the market based on product. It is one of the most consumed confectionery products by almost all age groups in all regions and is a key ingredient in many food products such as candy bars, milkshakes, cookies, and other food products. Increase in awareness regarding the health benefits of chocolate and inclination of consumers toward functional dark and sugar-free chocolates are the major factors for the growth of this market.
Extrusion segment projected to grow at the highest CAGR, by food product, from 2018 to 2023
Extrusion is becoming an important process during confectionery processing as it has many advantages over conventional food processing; it has flexible equipment which can be used to manufacture different types of products with different physical properties and texture.
Automatic segment projected to grow at a higher CAGR, by mode of operation, from 2018 to 2023
The implementation of automation and robotics in confectionary processing has offered quality assurance and increased productivity so far, which acts as a key driver for the growth of the automatic confectionery equipment market. With the incorporation of automatic machinery, confectionery processing can be carried out for a large number of products, and comparatively lesser employees are required to attend to the machines; as this equipment function automatically, constant monitoring of processes is eliminated.
Asia Pacific is projected to be the fastest-growing region during the forecast period
Rise in the middle-class population in the region and the increase in disposable incomes drive the demand for nutritious chocolate bars & candies with new & enhanced flavors, which increases the need for confectionery processing equipment. This provides an opportunity for the major players in the field of confectionery processing to expand their geographical reach in the region.
This report includes a study of business strategies, along with the product portfolios of leading companies. More than nine developments were tracked for the 13 companies in the confectionery processing equipment market. It includes the profiles of leading companies such as Robert Bosch GmbH (Germany), Bühler AG (Switzerland), GEA Group (Germany), Alfa Laval (Sweden), John Bean Technologies Corporation (JBT) (US), Aasted ApS (Denmark), BCH Ltd (England), Tanis Confectionery (Netherlands), Baker Perkins Limited (UK), Sollich KG (Germany), Heat and Control, Inc. (US), and Rieckermann GmbH (Germany).
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.