The Global Confectionery Processing Equipment Market valued around USD 4.87 Billion in 2018 and is estimated to grow at a CAGR of around 5.5 % between 2019 & 2026.
The report covers forecast and analysis for the global confectionery processing equipment market on a global and regional level. The research report presents a comprehensive valuation of the market, competition, opportunities, emerging trends, and industry-validated market figures. The study provides historic data of 2016 to 2018 along with a forecast from 2019 to 2026 based on revenue (USD Billion).
The global confectionery processing equipment market is likely to have significant growth in the coming years and is expected to grow at a noteworthy rate within the forecast period. There is enormous scope in confectionery processing equipment market owing to aspects such as; increasing urbanization, new marketing strategies, changing dietary habits, new product launches and the emerging trend of gifting confectionery products. Owing to the changing dietary habits because of the health benefits of chocolate such as high nutritional value and powerful source of antioxidant have increased the number of dark and sugar-free chocolate consumption. Such trends are proposed to uplift the growth in the global confectionery processing equipment market.
The global confectionery processing equipment market has been categorized on the basis of the type, mode of operation, and application. Based on the type, the confectionery processing equipment market is segmented into thermal, mixers, blenders, cutters, extrusion, cooling, coating. The extrusion equipment accounts maximum share because of the extrusion which is core process of these products. This equipment has been upgraded over years to produce continuous ropes for several candy products and customize the shape of the product as per customer choices. Mode of operation wise, the confectionery processing equipment market is divided into automatic and semi-automatic. In application terms, the market is segmented into hard candies, chewing gums, gummies & jellies, and soft confectionery. The soft confectionery is likely to accounts maximum share owing to the rising demand from the consumers. Geographically, North America holds maximum share in the global confectionery processing equipment market owing to the technological advancement in terms of the superior processing methodologies. The confectionery processing equipment market in the Asia-Pacific region is expected to grow at a noticeable rate owing to the government supports and rise in disposable income. For instant, the Ministry of Food Processing Industries (MOFPI), as part of the focus sectors under Make in India, is driving the sector’s growth by creating an enabling environment for investments through sector-friendly policies and grant-in-aid support for the sector.
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The escalation in the growth of the global retail industry is the major key driver to uplift the global confectionery processing equipment market. Owing to the aspects such as increasing GDP growth, higher disposable income and rising spending capacity the retail industry is boosting at a faster pace. According to the Consumer Goods Forum (CGF), the global chocolate and confectionery retail volume uplifted from 1,344 thousand tones in 2010 to 1,383 thousand tones in 2016. Moreover, according to the U.S. Census Bureau, retail sales of chocolate increased from $93.69 billion in 2015 to $98.2 billion in 2016 worldwide. Hence, thriving retail industry has increases the consumption of chocolate and confectionery items, which ultimately impact on the growth of confectionery processing equipment market. The factors which might hamper the growth of confectionery processing equipment market are the high cost of equipment associated with technical support, power costs, and maintenance.
The key players in the global confectionery processing equipment market are Robert Bosch GmbH , Bühler AG , GEA Group , Alfa Laval , John Bean Technologies Corporation (JBT) , Aasted ApS , BCH Ltd , Tanis Confectionery , Baker Perkins Limited , Sollich KG , Heat and Control, Inc. , and Rieckermann GmbH.
Confectionery Processing Equipment Market : Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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