Confectionery Processing Equipment Market to Record Steady Growth by 2023

The Confectionery processing equipment market was valued at USD 4.38 Billion in 2017. It is projected to reach USD 6.55 Billion by 2023, at a CAGR of 6.90% from 2018. Confectionery processing equipment is machinery used for the production of confectionery products such as hard candies, chewing gums, gummies & jellies, and soft confectionery. The growth of the retail and confectionery industries, supported by the increased market presence of confectionery companies across the globe, drives the growth of the market.

The confectionery processing equipment market, by product, is segmented into hard candies, chewing gums, gummies & jellies, soft confectionery, and others. The soft confectionery segment is estimated to dominate the market with the largest share in 2018 as the demand for a variety of chocolates, such as sugar-free and dark, is increasing, globally. This is followed by the hard candies segment.

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The confectionery processing equipment market, based on type, is segmented into thermal, extrusion, mixers, blender, and cutters, coating, cooling, and others. The extrusion segment is projected to grow at the highest CAGR among all confectionery processing equipment types from 2018 to 2023. Extrusion equipment is used to make confectionery products of different shapes and sizes. The need to provide innovative products is one of the factors expected to augment the demand for extrusion products.

Based on mode of operation, the confectionery processing equipment market is segmented into automatic and semi-automatic. The automatic segment is anticipated to be relatively larger as against the semi-automatic segment. Automatic operation helps to reduce labor costs as well as time and ensures high-quality products.

The North American region is estimated to dominate the confectionery processing equipment market in 2018, The market in Asia Pacific is expected to grow at the highest CAGR during the review period. The market for confectionery processing equipment is developing rapidly in Asia Pacific due to high consumption of convenience foods and the establishment of key confectionery product manufacturers. Population growth, rise in disposable income, changes in eating habits, and urbanization are the key factors that drive the demand for confectionery products in the region.

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The major restraining factor for the growth of the confectionery processing equipment market is increase in awareness regarding the ill-effects of sugar consumption among consumers. This trend is witnessed in regions such as North America and Europe, and is expected to restrain the growth of the confectionery products market, which would subsequently impact the market for confectionery processing equipment.

New product launches, acquisitions, expansions, partnerships, mergers, and agreements are the key strategies adopted by the players to ensure their growth in the market. The market is dominated by players such as Robert Bosch GmbH (Germany), Bühler AG (Switzerland), GEA Group (Germany), Alfa Laval (Sweden), John Bean Technologies Corporation (JBT) (US), Aasted ApS (Denmark), BCH Ltd (England), Tanis Confectionery (Netherlands), Baker Perkins Limited (UK), Sollich KG (Germany), Heat and Control, Inc. (US), and Rieckermann GmbH (Germany).