Year: 2020 and 2028
Market size: $12.92 billion and $20.24 billion, respectively
In the United States, May 15th is National Chocolate Chip Day. In a survey conducted by Top Worldwide LLC for NationalToday.com, 44% of people said that their favorite way of eating chocolate chips was in chocolate chip cookies. According to TasteAtlas, the chocolate chip cookie is the most popular cookie in North America.
Chocolate chip cookies and many other baked goods for sale in retail establishments are made using bakery processing equipment. Today’s market size shows global revenues for this equipment in 2020 and projected for 2028. Cookies and biscuits held the third-highest market share in terms of end-use in 2020. Bread held the highest share, 35%, followed by cakes and pastries. Pizza crusts were 4th. Bread is expected to retain its lead due to high demand in North America and Europe and growing demand in India and China.
Ovens and proofers held a 34.2% market share in 2020 due to their extensive use throughout the packaged food manufacturing industry and the rising demand for baked goods. Low energy consumption ovens are expected to drive the market through 2028. Although dough sheeters are more expensive than other commercial bakery equipment, sales are expected to grow significantly over the next few years. Modern dough sheeters have variable speeds so they can be adapted to different dough types being manufactured.
Increasing demand for packaged food products, including frozen meals, snack foods, and ready-to-eat products along with changing consumer lifestyles and tastes have led manufacturers to introduce new products catering to consumer preferences for taste, flavor, and nutrients. However, adding new products, with new ingredients, complicates the production process. As a result, manufacturers are investing in advanced bakery processing equipment that can handle a variety of ingredients and perform multiple functions. Demand for flexible bakery processing equipment is especially high in the North American region as manufacturers there offer limited edition, nostalgic, and seasonal products and need equipment that allow ingredients to be changed from batch to batch. Due to increasing energy, ingredient, and labor costs, bakery manufacturers are also interested in automated equipment that will improve their process efficiency and minimize food waste.
The Asia-Pacific region held 37.1% of the market in 2020 and is expected to experience the highest growth through 2028. Increasing disposable income in the region, globalization, and the adoption of automated technology will contribute to growth. Rising investments in the food and beverage industry in China are also expected to contribute to higher revenues in this region. In Europe, Germany is the largest food producer and a major country in terms of bread and roll production and consumption. In 2018, baked goods, long-life bakery products, and confectionery represented 17.3% of the food and beverage industry. Increasing demand for healthy bread substitutes and packaged bakery products will contribute to growth in this region. In developing countries, rising demand for frozen baked goods, premium pastries, whole-grain baked goods, and healthy snacks and increasing adoption of advanced manufacturing technologies will contribute to revenue growth in the coming years.
Major manufacturers of bakery processing equipment are investing in research and development in order to create equipment to enhance their customers’ productivity. In order to expand their product offering and cater to a broader range of customers, manufacturers are expanding capacity and geographical reach as well as focusing on mergers and acquisitions. Some leading global manufacturers of bakery processing equipment include Ali Group S.r.l., Baker Perkins Ltd., Bühler AG, GEA Group Aktiengesellschaft, The Middeby Corp., JBT Corp., Anko Food Machine Co. Ltd., Markel Food Group, Koenig Maschinen GmbH, and Heat & Control Inc.Sources: “Bakery Processing Equipment Market Size, Share & Trends Analysis Report by Equipment (Ovens & Proofers, Molders & Sheeters), by Application (Bread, Pizza Crusts), by Region, and Segment Forecasts, 2021 – 2028,” Grand View Research Report Summary, February 2021 available online here; “Bakery Processing Equipment Market Size Worth $20.24 Billion by 2028: Grand View Research, Inc.,” CISION PR Newswire, March 1, 2021 available online here; “National Chocolate Chip Day — May 15, 2021,” National Today available online here; “Top 10 Most Popular North American Cookies,” TasteAtlas, January 23, 2021 available online here; Daniel Lindel, “Food and Beverage Industry: Supplying the Full Spectrum of Consumer Needs,” Food and Beverage Sector Industry News, Germany Trade & Invest, January 20, 2021 available online here.
Image source: Jason Jarrach, “Chocolate Chip Cookies Lined Up Making a Very Unique Texture,” Unsplash, February 22, 2020 available online here.