Rising Inclination towards Convenience Food to Dictate Potential Opportunities for Bakery Processing Equipment Market
Consumer inclination towards on-the-go and ready-to-eat food products has given a sharp edge to the processed food industry. Busy consumer lifestyle coupled with steady growth in GDP per capita has translated into several opportunities for convenience food products, in turn giving a pivotal edge to the bakery sector. This is expected to give an impetus to bakery processing equipment, essential for producing different bakery products with higher precision, efficiency and quality. Moreover, preference towards convenience food such as bakery products is also dictated by their functional features such as easy to consume and store for longer duration. That said, the transition towards ready-to-eat convenience food from traditional food products, is expected to generate ample opportunities for bakery processed food and this direct congruence is likely to fuel the growth of the bakery processing equipment market in the coming years.
Additionally, frozen bakery products are also gaining significant traction due to various aspects such as cost effectiveness and ease in preparation. This is expected to give a new pathway for frozen bakery products to penetrate the QSR (Quick Service Restaurants) space and other food chains. In this backdrop, manufacturers of bakery processing equipment can expect a steady stream of opportunities in the frozen bakery sector, consequently complementing the bakery processing equipment market.
Sheeters and Molders to Witness High Demand in the Bakery Processing Equipment Market
Sheeters and molders in the bakery processing equipment space are likely to witness significant traction on the back of their efficient functionality and usability quotients. Moreover, rising consumption of bakery products such as cookies and biscuits worldwide is expected to further drive the demand for sheeters and molders as key bakery processing equipment. Additionally, their ability to produce dough sheets in huge quantities in relatively less time is expected to give an impetus to the sales of sheeters and molders in the bakery processing equipment market.
Asia Pacific to Showcase Higher Growth Potential for Bakery Processing Equipment
Demand for bakery processing equipment in the developing countries in Asia Pacific is expected to witness a significant spike in the coming years. Factors such as increasing investments in the food and beverage sector, and steadily growing GEP per capita has translated in rising demand and consumption of bakery products. Moreover, busy lifestyles have resulted in consumers opting for healthy bakery products such as snack varieties. As such, the region holds a strong background for the development of bakery industry on the back of growing population and its requirement for bakery products. This is expected to drive the growth of the bakery processing equipment market in the near future, making Asia Pacific a lucrative go-to-market in this space.
On the other hand, the bakery processing equipment market in Europe, especially in Germany, is also expected to witness significant growth. This is mainly attributed towards increasing production of rolls and bread in the country. For instance, according to GTAI (Germany Trade and Invest), annual consumption of bakery and bread by households was 58.9 Kg in 2017 and is expected to further rise. This aspect is likely to fuel growth of the bakery processing equipment market in developed countries in Europe.
Bakery Processing Equipment Market Competitive Landscape
Players involved in the manufacturing and distribution of bakery processing equipment are largely focusing on developing innovative products by leveraging technology. New product launches along with other capacity and portfolio expansion moves such as mergers and acquisitions to gain space and footprint in the bakery processing equipment market has been few of the strategies of key players since past few years. For instance, Rheon Automatic Machinery, in 2018, planned to expand its production capacity by building new facility focused on manufacturing state-of-art bakery processing equipment in New Jersey. The facility also has a well-equipped laboratory to carry out research and development initiatives.
Likewise, in 2021, establishment of a new bakery processing equipment manufacturing facility was announced by Heat and Control Inc. in Mexico. The company claims that this facility would be the largest among its other manufacturing plants. In June 2021, an AI based solution was developed by AMF Tromp. This smart applicator was focused on quality control in pizza production. This solution facilitates automated quantity and quality control for various pizza toppings, in turn reducing wastage, labor requirement and enhancing operational efficiency at the same time. In the same year, DIL Deutsches Institut für Lebensmitteltechnik e. V., a German research institute collaborated with Bühler to research and develop novel production technologies for sustainable and healthy food products. In December 2020, United Foodservice Equipment Limited and Zhuhai United Foodservice Equipment Limited, the affiliate of the former, were acquired by Middleby Corporation in a bid to enhance its current portfolio.
Similarly, in 2021, Baker Perkins Limited initiated designing and development of automatic cool cart and mold stacking system for ServoForm Mini, company’s confectionery depositing system particularly designed for entry-level activities. This reduces labor requirement to stack or remove molds form the equipment. The company focuses on nhancing its ServoForm line with this initiative.
Few of the key players in the bakery processing equipment market include Middleby Corporation, Baker Perkins, Rheon Automatic Machinery, Koenig Maschinen GmbH, Heat and Control Inc., Bühler Holdings AG, Markel Ventures Inc., and BVT Bakery Services B.V.
The Global Bakery Processing Equipment Market is Segmented as Below:
Key Elements Included In The Study: Global Bakery Processing Equipment Market
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