Bakery Processing Equipment Market to Hit $13.62B by 2020

A recent market research report posits that the global market for bakery processing equipment will rise from an estimated $9.56 billion in 2015 to $13.62 billion in 2020, increasing at a compound annual growth rate (CAGR) of 7.3%. China is expected to take a lead in furthering bakery processing equipment technology and techniques during the forecast period.

The March 2016 report produced by research firm MarketsandMarkets attributes the projected growth to increasing global demand for baked goods, including frozen bakery products. In 2014, ovens and proofer equipment held the greatest market share, with mixers coming in second, the authors of the report said.

The report predicts that sheeters and molders will grow at the greatest CAGR during the period as demand for “innovative bakery products” increases.

Equipment used for breadmaking lead the market in 2014, with cakes and psalteries coming in second and pizza crust segments in third.

China is expected to develop advanced technologies and new types of bakery processing equipment, with the report’s authors calling the country “the future of the bakery processing equipment industry.”

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