LONDON–Technavio has been monitoring the industrial bakery processing equipment market and it is poised to grow by USD 3.67 billion during 2020-2024, progressing at a CAGR of over 7% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Ali Group Srl, ANKO Food Machine Co. Ltd., Baker Perkins Ltd., Bühler AG, GEA Group Aktiengesellschaft, Gemini Bakery Equipment Co., Heat and Control Inc., John Bean Technologies Corp., Markel Corp., and The Middleby Corp. are some of the major market participants. The demand for frozen bakery products will offer immense growth opportunities. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Demand for frozen bakery products has been instrumental in driving the growth of the market.
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