(Entertainment-NewsWire.com, September 10, 2020 ) The global bakery processing equipment market size is estimated to be valued at USD 8.9 billion in 2020 and is projected to reach USD 11.4 billion by 2025, recording a CAGR of 5.0% in terms of value. Emerging markets in upcoming economies such as Asia Pacific and South American countries is going to be a potential market for the bakery processing equipment manufacturers. Factors such as the increasing number of artisan bakeries and quick service restaurants (QSRs) and upgradation of technology in bakery are projected to drive the growth of the bakery processing equipment market during the forecast period.
Based on end user, the market segmentation includes bakery processing industry and foodservice industry. The foodservice industry segment is projected to witness the fastest growth from 2020 to 2025. The foodservice industry consists of various service chains such as restaurants, QSRs (quick service restaurants), hotels, bakery café chains, and food & beverage chains. Of these, QSRs or fast food restaurants are dominating the food service segment in the bakery processing equipment market due to the high contribution of QSR chains such as McDonald’s, Starbucks, Subway, Burger King, Wendy’s, Taco Bell, Dunkin Donuts, Pizza Hut, KFC, and Domino’s. The food service industry uses frozen bakery food items on a regular basis to save time in cooking, which thus, reduces the time taken by the food item to reach the customer’s table. Frozen bakery food offers both quality and taste, which is the same as traditional baked food items; thus, it fulfills customer expectations. The global foodservice industry is growing at a faster pace due to the high demand for fast food, the increase in the population of working women, rise in disposable income levels, and the growing number of food delivery channels.
The bakery processing equipment market in the Asia Pacific is projected to witness the highest growth between 2020 and 202. The industrial growth in the region over the years, followed by improvements in the bakery industry, has created new opportunities for the bakery processing equipment market. The growing middle-class population in the region, increasing disposable income among customers, and demand for bakery items that offer on-the-go consumption are driving the growth of the bakery processing equipment market. The per capita consumption of bakery processing equipment in the Asia Pacific region is increasing due to emerging economies such as China, India, and Indonesia. A large number of bakery companies have expanded their manufacturing facilities in these countries, which has also driven the market for bakery processing equipment. For instance, in February 2019, The Haas Group (Austria), which was acquired by Bühler, expanded in India by adding an oven manufacturing plant to its service and support facility in the country. In addition, in November 2016, Reading Bakery Systems (Markel Food Group) continued its expansion across the Chinese and South-East Asian markets due to the increasing demand for bakery products from the customers in the region, along with providing a platform for developing baked snack systems.