BONBONS, gummies, and other sweets enjoy high demand across the globe, with consumers especially looking for novelty and functional products. This has been key in the growth of the processing equipment market for chocolate and confectionery which was valued at USD3.4 billion in 2017, and now forecast to reach USD7.1 billion by 2026 at a CAGR of 9.6%.
A report available from Market Reports World, Chocolate and Confectionery Processing Equipment Industry Share, Size 2020 Global Market Growth, Demand, Trends, Insights and Forecast 2026, provides relevant data on the sector.
The market is driven by: increasing customer demand for confectionery items, a strong retail industry, technological advancements, and a growing focus on food safety of confectionery products and safety of workers are driving the growth of the chocolate and confectionery processing equipment market globally. The setbacks to equipment use are training on how to operation machines, and the high cost of machinery.
Soft confectionery leads the global chocolate and confectionery processing equipment market.
The depositors segment dominated the global market for chocolate and confectionery processing equipment in 2017, owing to significant development in the depositing technology to meet increasing market demand for high-quality and innovative products and better demand for confectionery products from developing markets.
The Asia-Pacific accounts for the largest share of the global market for chocolate and confectionery processing equipment. The report attributes this to an increasing demand of functional and premium chocolate and confectionery products in India, Indonesia, China and Thailand; the region’s higher population base, as well as growing expenditure on convenience and ready-to-eat products.
China is the largest single market for chocolate and confectionery equipment, accounting for USD750 million in sales in 2016. There is still room for growth, as manual food processing techniques are still used there. More in: https://www.marketreportsworld.com/purchase/13386149
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