The bakery processing equipment market is projected to grow at a CAGR of 7.3 percent from 2015 to 2020, to reach USD13.62 Billion by 2020, according to Markets and Markets. The market growth is driven by an increased demand for bread, pastries, and other baked goods, growing demands for frozen bakery products, and advancement in manufacturing processes & technologies. The market is further driven by factors such as automation & robotics in bakery processing equipment. Based on the type, the bakery processing equipment market is led by the ovens & proofers segment, followed by the mixers segment, in terms of value. Based on application, in terms of value, the bakery processing equipment market was led by the bread segment followed by cakes & pastries. Bakery processing equipment is manufactured on a large scale in regions where there is a higher consumption of bakery items in daily meals. Among the varied types for bakery processing equipment products, such as mixers, ovens & proofers, dividers sheeters & molders and others, ovens & proofers accounted for the largest market share, followed by mixers. Ovens & proofers and mixers are largely used in the European and Asian countries in the bakery industry and are used in frozen baked varieties as well. Asia-Pacific accounted for the largest market share for bakery processing equipment, followed by Europe and North America. Bakery processing equipment products such as ovens & proofers and mixers are among the widely used products in Asia-Pacific; changing bakery products consumption pattern is one of the major factors driving the bakery processing equipment market in this region. Geographically, the North American region is expected to be the fastest growing market with investments from several multinational manufacturers, especially in countries such as the U.S. and Canada, according to a report by Grand View Research. Asia Pacific accounts for the largest market share for bakery processing equipment; followed by Europe and North America. The market is driven by increasing demand of bakery processed food products in emerging and developing countries including India, China, Indonesia, and Thailand. In Asia Pacific region, China accounts for the largest market share in bakery food processing equipment. In North America, the U.S. accounts for the largest market share in bakery food processing equipment. Growing awareness level regarding new food products, rising economy, investment on research and development over bakery food processing equipment are some of key reasons that drive the bakery food processing market in European region. The bakery processing equipment market is fragmented and competitive, with a large number of players operating at regional and local levels. The key players in the market adopted acquisitions, new product launches, expansion & investments, and joint ventures as their preferred strategies. Prominent market players are Buhler holding AG (Switzerland), Ali Group S.p.A (Italy), GEA Group AG (Germany), Heat and Control, Inc. (U.S.), and JBT Corporation (U.S.).
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