“Confectionery processing equipment market is projected to grow at a CAGR of 6.90%”
The confectionery processing equipment market is estimated to be valued at USD 4.69 billion in 2018, and is projected to reach USD 6.55 billion by 2023, at a CAGR of 6.90% from 2018.
Factors such as growth of the retail industry have driven the growth of the confectionery processing equipment market. Growth in demand for confectionery items such as candies, toffees, chocolates, chewing gums, and jellies and rise in population of children & young adults are driving the growth of the confectionery market. This is expected to fuel the growth of the confectionery processing equipment market in the region.
The increase in awareness among consumers regarding healthy food consumption has led to higher demand for healthier functional foods, leading to reduction in the consumption of sugar and products that contain sugar such as candies, chocolates, sweet spreads, and bakery products. This trend is witnessed in all the regions, and is expected to restrain the growth of the confectionery products market, which would subsequently impact the confectionery processing equipment market.
“Gummies & jellies segment is projected to be the fastest-growing from 2018 to 2023”
Technological advancements in the food industry such as 3D food printers used by manufacturers of gummies and jellies to give different sizes and shapes to the products are expected to increase the scope of demand in the market.
“Soft confectionery segment is estimated to lead the market with the largest share in 2018”
Soft confectionery such as chocolate is one of the most consumed confectionery products by almost all age groups in all the regions, and is a key ingredient in many food products. Globalization and increase in incomes can be attributed to the growth of the premium chocolate market, giving investment opportunities for the manufacturers of chocolate processing equipment.
“Automatic segment is estimated to lead the market with the largest share in 2018”
Automatic equipment eliminates the need for companies purchasing different equipment from various suppliers and assembling the machinery parts, which leads to a reduction in procurement cost. With the incorporation of automatic machinery, confectionery processing can be carried out for a large number of products, and comparatively lesser employees are required to attend to the machines.
“China contributed to the largest market share in the Asia Pacific region in 2018”
The North American region is estimated to dominate the confectionery processing equipment market in 2018. The market in Asia Pacific is driven by the increase in consumption of chocolate bars & candies with new & enhanced flavors.
The demand for confectionery is high in manufacturing-based economies such as Japan and China. With the continuous improvement in living standards, the demand for premium chocolates and functional candies is expected to increase. Dark chocolates, which act as antioxidants and helpful in improving heart health, are expected to be widely accepted and favored among consumers. Therefore, the demand for confectionery processing equipment is expected to rise in the coming years.
The figure below shows the breakdown of the primaries on the basis of company type, designation, and region, conducted during the research study.
- By Company Type: Tier 1 – 40%, Tier 2 – 45%, and Tier 3 – 15%
- By Designation: C level – 35%, D level – 25%, and Others – 40%
- By Region: North America – 45%, Europe – 30% Asia Pacific – 20%, and RoW – 5%
Major players such as Robert Bosch GmbH (Germany), B?hler AG (Switzerland), GEA Group (Germany), Alfa Laval (Sweden), John Bean Technologies Corporation (JBT) (US), Aasted ApS (Denmark), BCH Ltd (England), Tanis Confectionery (Netherlands), Baker Perkins Limited (UK), Sollich KG (Germany), Heat and Control, Inc. (US), and Rieckermann GmbH (Germany).
The report focuses on Confectionery processing equipment services for different materials and regions. It aims at estimating the size and future growth potential of this market across different segments?product, type, mode of operation, and region. Furthermore, the report includes an in-depth competitive analysis of the key players in the market along with their company profiles, competitive landscape, recent developments, and key market strategies.
Reasons To buy this report:
- To get a comprehensive overview of the global confectionery processing equipment market
- To gain wide-ranging information about the top players in this industry, their service portfolios, and key strategies adopted by them
- To gain insights of the major countries/regions in which the confectionery processing equipment market is flourishing