Confectionery Processing Equipment Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth - Global Forecast 2019 To 2024
Overview
The Confectionery Processing Equipment market size is forecast to reach $6.79 million by 2024, registering a growth rate of 6.24% during 2019-2024. Some of the key factors contributing to the market growth include expansion of the global retail industry for confectioneries, change in preference of consumers towards sugar-free confectioneries, and latest trends. Moreover, exponential growth in the confectionery and chocolate product is also driving the demand for confectionery processing equipment in recent years. Some of the key machines that are a part of the confectionery processing equipment market include cotton candy machine, chocolate machine, candy making machine
Report Coverage
The report: “Confectionery processing equipment Market – Forecast (2019-2024)”, by IndustryARC covers an in-depth analysis of the following segments of the Confectionery processing equipment Market.
•By Product
• Soft confectionery
• Hard candies
• Chewing gums
• Gummies & jellies
• Others
•By Type
• Thermal equipment
• Extrusion Equipment
• Mixers, Blenders, and cutters
• Cooling equipment
•Coating equipment
•Other equipment
•By Mode of operation
•Automatic
•Semi-automatic
•By Geography
•North America
•South America
•Europe
•APAC
•RoW
Key Takeaways
· The confectionery processing equipment market segmented by product is led by soft confectionery with a value share of 41.29%.
· The coating equipment segment accounted for a market share of 24.16% in 2018.
· North America held the largest share with 38.19%, in 2018.
· Product innovation and partnership are some of the key strategies used by the players in the confectionery processing equipment market
· The Confectionery Processing Equipment industry outlook is segmented by product, type, and Mode of operation.
Product - Segment Analysis
The confectionery processing equipment market segmented by product is led by soft confectionery. The soft confectionery segment accounted for a value share of 41.29%, in 2018. The exponential growth in demand for chocolates over the last few years is a key factor in driving the market. Latest chocolate products that are free of artificial flavors, trans fat, sugar-free sweet confectionery, and sweeteners. This requires the application of confectionery processing equipment. Hard candies followed the soft confectionery segment in terms of revenue in 2018. The chewing gums category is expected to grow the fastest during the forecast period 2019-2024.
By Type - Segment Analysis
The coating equipment segment leads the confectionery processing equipment market segmented by type. The coating equipment segment accounted for Confectionery Processing Equipment market share of 24.16%, in 2018. There is huge technological progress made in the coating equipment. The mixers, blenders, and cutters segment followed the coating equipment segment in the confectionery processing equipment market due to its widespread application in the confectionery industry. Further, the thermal equipment segment is expected to grow at the fastest rate during the forecast period 2019-2024.
Geography - Segment Analysis
North America held the largest share in the global confectionery processing equipment industry. The demand for premium and functional confectionery and chocolate products in this region is a key factor in the revenue generation from this region. The Asia Pacific held the second-largest share in the confectionery processing equipment market in 2018. The region is also expected to grow at the fastest rate over the forecast.
Drivers - Confectionery processing equipment Market
· Growth in the retail industry for confectioneries
A key factor in the rise in demand for confectionery processing equipment market is the growth of the global retail industry for confectioneries. Further, the exponential rise in demand for chocolate confectionery in recent years is another key factor driving the confectionery processing equipment market. According to the Consumer Goods Forum (CGF), the global confectionery and retail volume has grown from 1,344 thousand tones in 2010 to 1,383 thousand tones in 2016. The rise in demand in the retail industry could be attributed to burgeoning population growth, GDP growth, increase in consumer spending, and higher disposable income.
· Change in preference for a healthy lifestyle
The change in preference of consumers towards healthy living has led to a higher demand for functional foods. This has led to the rise in demand for sugar-free confectionery items, which include chocolates, toffees, candies, jellies, and chewing gums. The rise in production of such products will, in turn, lead to the growth in demand for confectionery processing equipment.
Challenges – Confectionery processing equipment Market
· High cost
The high investment of confectionery processing equipment is a key factor in restraining market growth. These equipment have complex and electronic sensor systems that require rapid automation and controls. Thus to accommodate the smooth functioning of the confectionery processing equipment, there need to be numerous supporting modules. This again comes with a high cost compared to traditionally used methods. Thus with the application of confectionery processing equipment, the price of the end products increases, this makes it difficult for the small and medium-scale manufacturers to afford this equipment.
Market Landscape
Ø Product innovation and partnership are some of the key strategies used by the players in the confectionery processing equipment market to gain a competitive advantage over its competitors. As of 2018, the market for the confectionery processing equipment in the supply chain is consolidated with the top 5 players accounting for 51.46% of the market share. The major players included in the confectionery processing equipment include Bühler AG, Robert Bosch GmbH, GEA Group, John Bean Technologies Corporation (JBT), Alfa Laval, Aasted ApS, Baker Perkins Limited, Tanis Confectionery, Sollich KG, Rieckermann GmbH and Heat and Control, Inc.
Confectionery processing equipment Market Research Scope:
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, which also include information on confectionery processing equipment top 10 companies, considering the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the confectionery processing equipment. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the product of confectionery processing equipment, their type, and Mode of operation in the confectionery processing equipment market.
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