Processed Snacks Equipment Market is Expected to Witness Prolific Demand: Projected to Touch USD 10.9 Billion by 2026
Published | March 2021
A study recently conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the global processed snacks equipment market is expected to reach USD 10.9 billion by 2026, at a CAGR of 2.3% from 2017-227 (forecast period). The market is exhibiting strong growth with the rising demand for food products globally, and increasing investment opportunities in food processing. The markets in North America and Europe have been growing consistently due to the strong presence of established food & beverage processing industry and international processed snack equipment manufacturers in those regions. Additionally, the increasing disposable income and rapid urbanization in developing countries such as India, Brazil, and China are propelling the demand for processed food and convenience food.
Rising food safety management concern driving the market growth
TheCOVID-19 pandemic, along with a downturn in global trade, has adversely affected the manufacturing and food industries. It is high time the food industry emphasized on the rules of personal hygiene and provided adequate training to the workers in the food industry. Governments around the world are currently focused on encouraging hygienic design and engineering of food equipment. Additionally, a few principles have been introduced by the Food Safety Management Systems (FSMS) to manage food safety rules based on the interpretation of the Hazard Analysis and Critical Control Point (HACCP).
Increased focus on production efficiency, processing time, and quality of food products
Owing to the increasing food raw materials prices, rising labor costs, and higher energy costs, manufacturers of end-products are currently concentrating on improving their production efficiency. Furthermore, measures are being taken to eliminate food wastage during manufacturing and to ensure that raw materials are used effectively. The emphasis is also on reducing energy consumption and embracing renewable energy for minimizing production costs and improving profitability. Equipment manufacturers who employ technologies such as non-thermal processing and UHT (Ultra-high temperature processing) for food products are launching numerous new processed snack equipment. Compared to conventional processes and semi-automatic systems that involve human interaction, the new devices work better. The wide acceptance of snack processing equipment has also enabled food processing equipment manufacturers to design and produce more customer-friendly processed snack equipment that provides versatility in terms of capacity expansion, thereby increasing mobility and processing control.
Bakery and Confectionery occupy the largest market share by Application
Bakery & Confectionery had a market share of 50.7% in 2020, with a CAGR of 2.2% during the forecast period (2021-2026). There is a strong demand for ultra-processed bakery products in developed countries such as the UK, Germany, the US, Canada, and Spain. The companies in the bakery and confectionery industry process raw materials into baked goods, and package and distribute them through various distribution channels to both individual customers and commercial establishments. The bakery processing industry has witnessed significant technological advancement in the bakery processing equipment assembly line over the years. Technological advancements have significantly reduced manufacturing costs while meeting the demand of consumers. Therefore, the key players in the market are opting for new technologies, which include Automated Spray Systems, WP intelligent Energy Control (IEC), and reflective coatings.
In the bakery and confectionery industry, this provides a lucrative market for creating prototypes, innovative designs, simpler procedures, time-effective production, and capacity enhancement. For instance, on 8 February 2021, Apex Motion Control, specialists in robotics and automation developed a game-changing innovation in cake production, the Cake Stacker for the baking and food industry. The Cake Stacker is a new way to remove the tedious and labor-intensive task of assembling cake layers with mid-fill icing. Thin layers of cake tend to break or crack, resulting in waste and higher ingredient costs. The Cake Stacker automatically assembles cake layers after mid-fill icing has been applied and can stack up to 30 individual cake layers a minute for the round, quarter, and half-sheet cakes.
Global Processed Snacks Equipment Market: Regional Insights
The Asia-Pacific (APAC)accounted for the largest share of over 41% in 2020 and would continue to lead during the forecast period as well. Due to the rapid growth of the food processing industry, along with factors such as the growing number of domestic food manufacturers, increasing food consumption, and strong government support, the demand for processed snacks equipment in this region is growing rapidly, leading to greater use of processing equipment by food & beverage producers in the region. On the other hand, Europe is expected to hold the second-largest share in the market, with 28.1% by 2026, growing at a CAGR of 2.1% during 2021-2026.
The Leading Players in the Market: Marel HF, GEA Group AG, JBT Corporation, Buhler Group, TNA Solutions Pty Ltd, Bucher Industries AG, Equipamientos Carnicos, Clextral S.A.S, and Bigtem Makine, and Marel HF.
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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the global processed snacks equipment market, along with current trends and forecasts. The report promises to provide recent technology trends of the global processed snacks equipment market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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