New York, Aug. 22, 2019 (GLOBE NEWSWIRE) -- Emerging trends in the confectionery products market, rise in demand for sugar-free confectionery products, growing market opportunities in the Asia Pacific region and the significant expansion of confectionery and bakery retail chains are key factors contributing to high CAGR of Confectionery Processing Equipment during forecast period.
According to the current analysis of Reports and Data, the global Confectionery Processing Equipment market was valued at USD 4.68 Billion in 2018 and is expected to reach USD 7.83 Billion by year 2026, at a CAGR of 6.6%. The food and beverages industry is expanding across the globe and with rising disposable incomes, there is a surge in the demand for confectionery products, that are comparatively costlier than the regular food items. Upcoming trends and changing customer preferences have to be addressed while producing the confectionery processing equipment. The globalization of food industry and resultant customer accessibility to various international varieties of confectionery items significantly affect the demand for sophisticated confectionery processing equipment. Increase in demand for sugar-free and organic confectionery products are another driving factor behind the lucrative growth opportunities in the market.
Despite a favourable market scenario, the rising occurrence of diabetes in both the elderly and middle-aged population segments, and a rising awareness about the ill effects of regular sugar consumption will pose a threat to the market growth of confectionery processing equipment.
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Further key findings from the report suggest
- By type, extrusion equipment holds the most prominent share in the confectionery processing equipment market. This is because extrusion is a very basic and useful process for these products. The equipment has been improved over many years to produce continuous ropes for various candy products, customize the product shapes as per customer preference, and many other such purposes.
- By application, the soft confectionery segment holds the largest market share due to a heavy consumer demand. The segment has witnessed many improvements in its production methods over the years to overcome problems such as gelatin degradation, and will remain the largest application of confectionery processing equipment in the years to come.
- Sustainable industry practices are trending in this market. Mars – which makes Snickers, Twix, and M&Ms has announced an investment of $1 billion over the coming years that will be specifically focused on renewable food sourcing and renewable farming practices.
- Gummies and jellies are expected to register the highest CAGR as an application segment of confectionery processing equipment in the forecasted period. The processing of these products is complicated as the texture requirements are precise. The product has witnessed innovation with its coatings over the years, which are experimented with to add flavor and to absorb the maximum moisture from the candies.
- By region, North America holds the largest share in the global confectionery processing equipment market. The confectionery segment is very well established in the region, with the best accessibility to appropriate processing methodologies.
- The confectionery processing equipment market is projected to grow the most in the Asia Pacific region due to rise in consumer disposable incomes, increased spending on confectionery products and a sharper focus on sophisticated confectionery processing technologies.
- Some companies operating in this market have a strong criterion for investments and divestments. For example, in March 2019, GEA’s Executive Board announced a strategic realignment of the company, as a part of which the company will not make any significant acquisitions for a specified period and would instead focus on specializing in their current capabilities.
- Companies are rapidly competing on product innovations. Aasted, a leader in chocolate, bakery and confectionery products, launched a new technique for the tempering of chocolate called StellaNova. The technology promises the best form of tempering for confectionery products.
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Segments covered in the report:
For the purpose of this study, Reports and Data have segmented the Confectionery Processing Equipment market on the basis of type, mode of operation, application, and region:
Type (Revenue, USD Million; 2016–2026)
- Thermal Equipment
- Extrusion Equipment
- Mixers, Blenders, and Cutters
- Cooling Equipment
- Coating Equipment
- Other Equipment
Mode of Operation (Revenue, USD Million; 2016–2026)
- Automatic
- Semi-Automatic
Application (Revenue, USD Million; 2016–2026)
- Soft Confectionery
- Hard Candies
- Chewing Gums
- Gummies & Jellies
- Others
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Regional Outlook (Revenue in USD Million; 2016–2026)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
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