World News: 14:38 GMT Thursday 6th December 2018. [Meticulous Market Research Pvt. Ltd. via Globe Newswire via SPi World News]
LONDON, Dec. 06, 2018 (GLOBE NEWSWIRE) -- According to this latest publication from Meticulous Research, the global is expected to grow at a CAGR of 8.0% from 2018 to reach $6,971.8 million by 2024. The growth of this market will be driven by factors such as increasing consumer demand for confectionery items, growth in retail industry, technological advancements, and growing focus on food safety of confectionery products and safety of workers.
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Depositors dominated the global chocolate and confectionery processing equipment market in 2017, mainly due to significant development in the depositing technology to meet increasing market demand for high-quality and innovative products and increased demand for confectionery products from developing markets. However, coating and spraying systems market is expected to witness a rapid growth during the forecast period, mainly due to increasing consumer’s demand for a novel product and growing need for combination of different textures and flavors in the product.
Soft confectionery dominated the global market in 2017, as it is one of the most consumed confectionery products by almost all age groups in all regions as well as it is a key ingredient in many food products. Also, increase in awareness regarding health benefits of chocolates and inclination of consumers toward functional dark and sugar-free chocolates further supports the growth of chocolate and confectionery processing equipment market for soft confectionery.
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Geographically, Asia-Pacific commanded the largest share of the global market. The large share of this region is mainly attributed to increasing demand of functional and premium chocolate and confectionery products in emerging and developing countries including India, China, Indonesia, and Thailand; higher population base; and increasing expenditure on convenience and ready-to-eat products.
The key players operating in the global chocolate and confectionery processing equipment market are Buhler AG, GEA Group Aktiengesellschaft, John Bean Technologies Corporation, Heat and Control Inc., Alfa Laval AB, Robert Bosch Packaging Technology GmbH, Aasted APS, Baker Perkins Limited, Tomric Systems, Inc, Caotech B.V., Sollich KG, Apex Machinery & Equipment Co., Ltd., Royal Duyvis Wiener B.V., Tecno 3 S.R.L., and BCH Limited, among others.
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Globe Newswire: 14:38 GMT Thursday 6th December 2018
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