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Albany, NY, Aug. 24, 2018 (GLOBE NEWSWIRE) -- According to a new market report published by Transparency Market Research titled “Bakery Processing Equipment Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 - 2026,” the global bakery processing equipment market is expected to reach a value of US$ 23,441.7 Mn by 2026. In terms of value, the market is estimated to expand at a CAGR of 9% during the forecast period from 2018 to 2026. In terms of volume, the market stood at around 10,899.9 thousand units in 2017. The Asia Pacific bakery processing equipment market is projected to have the highest growth during the forecast period both in terms of value (US$ Mn) and volume (‘000 Units). The market witnessed considerable growth in this region due to increased growth in the bakery industry, leading to positive growth in the bakery processing industry.
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The bakery processing equipment market is influenced by market dynamics with the prime driving factor of increasing consumer demand for bread and baked food products. In terms of product type, the bread systems segment is anticipated to gain the largest share with total value of US$ 6,477.6 by 2026 at a CAGR of 9.1% annually. On the other hand, according to end use, the global figures are anticipated to be US$ 1,877.6 Mn by 2026 at a CAGR of 8.1 %. Waste control in the food production line is one of the major challenges restraining the growth of the bakery processing equipment market. However, the market is anticipated to grow as a result of entry of new players.
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In 2017, based on type, the bread systems segment accounted for market value of about US$ 6477 Mn in the global bakery processing equipment market. This is because bread systems have wide application in the bakery industry. In terms of end use, both the retail and wholesale segment are expected to expand in equal numbers both in terms of value and volume. The retail baker segment is anticipated to reach US$ 939.3 Mn at a CAGR of 8% in 2026 whereas the wholesale baker segment is anticipated to reach US$ 938.4 Mn at a CAGR of 8.2% in 2026. In terms of application, cookies and biscuits segment is anticipated to acquire the largest share with total value of US$ 6648.2 Mn by 2026, at a CAGR of 9.4%. Cookies and biscuits are widely accepted in the U.S. and European regions; however, change in consumer lifestyles in Asian countries and in many other developing countries in terms of bakery consumption is anticipated to expand the cookies and biscuit segment.
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The top companies considered while studying this report for the global bakery processing equipment market are GEA Group AG, Buhler Holding AG, John Bean Technologies Corporation, Ali Group S.r.l., Heat and Control, Inc., Meyer Industries, Inc., Baker Perkins Limited, Markel Food Group, ANKO Food Machine Co., Ltd., Erika RecordBaking Equipment, Gemini Bakery Equipment Company, Rheon Automatic Machinery Co., Ltd., Global Bakery Solutions Ltd., Peerless Food Equipment, and Allied Bakery Equipment.
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The bakery processing equipment market is segmented as below.
Bakery Processing Equipment Market
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