SELBYVILLE, Del. - January 19, 2021 - (Newswire.com)
Global Market Insights, Inc. has recently added a new report on the bakery processing equipment market which estimates the market valuation for bakery processing equipment will cross US$ 11 billion by 2026. Factors including rising disposable income, increasing demand for automation systems to reduce human interference, and growing consumption of bakery products including pizza, cakes & pastry, and bread are impacting the market positively.
Manufacturers across the globe have been negatively impacted due to the outbreak of COVID-19. Temporary lockdown & shutdown of production facilities and slow & negligible trade during peak months have hampered market growth. Rising government regulations associated with lockdowns have disrupted the supply chain of various bakery processing equipment manufacturers. The halt in production and lack of labor have affected the market negatively.
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The North America pizza segment is expected to grow at a CAGR of around 8% during the forecast timeline. Growth in the segment is attributed to rising consumption of pizza by teenagers, millennials, and adults in large amounts in the region. Additionally, the rising number of retail and commercial bakeries in the region is positively impacting industry demand.
The bakery processing equipment market in Asia Pacific is witnessing high growth owing to rising demand for bread, pizza base, and cakes & pastry. The growing tourism and increasing demand for bread products, such as buns, pita bread, and flatbread, are also propelling market growth. The rising adoption of western culture in Asia Pacific has also increased the demand for fast food. The high consumption of bakery products and fast food has led to the development of several local & international restaurants and bakeries across the region. For instance, until December 2019, Domino's had more than 1,300 stores across 282 cities in India and is expected to grow during the forecast timeline.
Leading market players are developing innovative models of bakery equipment and are proceeding with partnerships & acquisitions to enhance their market hold. For instance, in April 2018, Heat and Control collaborated with a Japanese company, Ishida Co., Ltd. to offer bakery processing and packaging solutions to customers who are setting-up factories.
Some major findings in the bakery processing equipment market report include:
- Rising demand for automation and robotic processing equipment to enhance the overall quality, cost-efficiency, and consistency of the final products & machines.
- Growing consumer disposable income levels have resulted in high spending on food products and bakery items. The rising demand for bread & bakery products, such as pastry, pizza, and cake, are contributing to market growth. A rising number of bakery and fast-food restaurants is also showing a positive impact on the market.
- Growing demand for advanced machines and equipment from bakery production companies to reduce human intervention and enhance production consistency is contributing to market growth.
- Market players are focusing on the expansion of their business operations in untapped markets to strengthen their market presence and increase their share. The rising development of advanced bakery equipment and added features is also increasing competition among players.
- Key players operating in the bakery processing equipment market include GEA Group Aktiengesellschaft, The Middleby Corporation, Ali Group S.r.l. a Socio Unico, Heat and Control, Inc., John Bean Technologies Corporation, Rheon Automatic Machinery Co. Ltd., and Markel Ventures, Inc.
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Partial chapters of report table of contents (TOC):
Chapter 3 Industry Insights
3.1 Industry segmentation
3.2 Impact of COVID-19 on bakery processing equipment industry landscape
3.2.1 Global outlook
3.2.2 Regional impact
3.2.2.1 North America
3.2.2.2 Europe
3.2.2.3 Asia Pacific
3.2.2.4 Latin America
3.2.2.5 MEA
3.2.3 Industry value chain
3.2.3.1 Research & development
3.2.3.2 Manufacturing
3.2.3.3 Marketing
3.2.3.4 Supply
3.2.4 Competitive landscape
3.2.4.1 Strategy
3.2.4.2 Distribution network
3.2.4.3 Business growth
3.3 Industry ecosystem analysis
3.3.1 Component suppliers
3.3.2 Technology providers
3.3.3 Manufacturers
3.3.4 End use landscape
3.3.5 Distribution channel analysis
3.3.6 Vendor matrix
3.4 Technology & innovation landscape
3.5 Regulatory landscape
3.5.1 North America
3.5.2 Europe
3.5.3 Asia Pacific
3.5.4 Latin America
3.5.5 MEA
3.6 Industry impact forces
3.6.1 Growth drivers
3.6.1.1 Growing demand for bakery products across the globe
3.6.1.2 Rising bakery industry in America
3.6.1.3 Increasing development of energy efficient machines initiatives in the European Union
3.6.1.4 Growing demand for new bakery products in Asia Pacific
3.6.1.5 Advancement in equipment by integrating automation & robotics technologies in the bakery processing equipment
3.6.1.6 Rising presence of global food providers in the UAE and South Africa
3.6.2 Industry pitfalls & challenges
3.6.2.1 High maintenance cost
3.6.2.2 Limited awareness about the automated machines
3.7 Growth potential analysis
3.8 Porter's analysis
3.8.1 Supplier power
3.8.2 Buyer power
3.8.3 Threat of new entrants
3.8.4 Threat of substitutes
3.8.5 Internal rivalry
3.9 PESTEL analysis
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
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Original Source: Bakery Processing Equipment Market to Hit $11 Bn by 2026; Global Market Insights, Inc.
