APAC to Be Fastest Commercial Baking Equipment Market

Technavio analysts forecast the global commercial baking equipment market size to be worth USD2,381.4m by 2021, growing at a CAGR of more than 5% over the forecast period, according to their latest report.  

APAC is projected to be the fastest growing regional segment in the global commercial baking equipment market, displaying a CAGR of close to 6% through 2021. The increasing health consciousness, growing brand awareness, and rise in disposable income are the driving factors behind the growth of the market segment.

Technavio analysts highlight the following three factors that are contributing to the growth of the global commercial baking equipment market: availability of artisanal baking products; increase in number of food service establishments preparing baked goods and constant innovations and economies of scale.

Manu Gupta, a lead analyst at Technavio, says: “Artisanal bakers are expanding their activities due to increased demand for products such as bread, pastries, and cakes. The increase in demand for premium baked goods by a larger number of consumers falling into the middle-income bracket is a key driver for the growth of the market.”

The rising demand for artisanal baking products will directly result in an increased demand for a higher volume of bakery equipment, especially from developing countries in APAC. Also, vendors catering to the demand for healthy and indulgent baked products in Western Europe and North America will create a significant demand for commercial baking equipment.

The bakery industry has witnessed a slow change towards simple and fresh baked products that are both healthy and organic. Also, many popular bakery chains such as Mlinar Bakery, Granier Bakery, Corner Bakery, and 85°C Bakery Cafe are expanding to cater to rising consumer demand for their products. This is leading to an increase in demand for bakery equipment such as bakers’ ovens, mixers, and other products, leading to the growth of the market. The expansion of leading pizzerias such as Domino’s, Pizza Hut, and Papa John’s is also expected to have a significant impact on the market.
The research study by Technavio on the global commercial baking equipment market for 2017-2021 provides detailed industry analysis based on the product (ovens, mixers, bakery display cases, bread slicers, dividers and sheeters, holding and proofing, and accessories) and geography (APAC, EMEA, and the Americas).