Portland, OR, Dec. 02, 2020 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global bakery processing equipment market generated $11.4 billion in 2018, and is projected to garner $18.7 billion by 2026, growing at a CAGR of 6.7% from 2019 to 2026.
High-end technological innovations and the fast-paced lifestyle of consumers that opt for convenient food products drive the growth of the global bakery processing equipment market. However, strict government regulations and international quality standards hamper the market growth. On the contrary, surge in demand for bakery products in emerging countries is estimated to open lucrative opportunities for the market players in the future.
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Covid-19 scenario:
- The prolonged lockdown across various countries has disrupted the supply chain and created the supply-demand gap.
- However, as various countries have lifted the lockdown regulations imposed during the first phase of the pandemic, the manufacturing of bakery processing equipment is expected to get back on track.
The global bakery processing equipment market is segmented on the basis of product type, application, and geography. Based on product type, the market is categorized into ovens & proofers, mixers, sheeters & molders, and others. The sheeters & molders segment is estimated to manifest the highest CAGR of 8.6% during the forecast period. However, the oven and proofers segment dominated the market in 2018, accounting for nearly two-fifths of the market.
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On the basis of application, the market is divided into bread, cakes & pastries, cookies & biscuits, pizza crusts, and others. The cookies and biscuits segment is anticipated to manifest the highest CAGR of 9.0% during the forecast period. The bread segment held the largest share in 2018, contributing to nearly two-fifths of the market.
The global bakery processing equipment market is analyzed across various regions such as North America, Asia-Pacific, LAMEA, and Europe. The market across Asia-Pacific held the largest share in 2018, accounting for more than one-third of the market. Moreover, the region is projected to register the highest CAGR of 7.8% during the forecast period.
The global bakery processing equipment market report includes an in-depth analysis of the major market players such as BUHLER AG, Paul Mueller Company, Welbilt Inc., EUROASIA FOOD EQUIPMENT SDN BHD, Breville Group, The Middleby Corporation, JBT Corporation, GEA Group Aktiengesellschaft, Ali Group Srl, and Heat and Control, Inc.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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