Wilmington, Delaware — Transparency Market Research Inc. – The global bakery processing equipment market stood at US$ 17.6 billion in 2022 and the global market is projected to reach US$ 29.1 billion by 2031. The global industry is anticipated to expand at a CAGR of 5.8% between 2023 and 2031.
The market value of Bakery Processing Equipment is also increasing due to the growing demand for convenience food, as it enables bakery manufacturers to produce large quantities of bakery products quickly and efficiently. With the fast-paced lifestyle, people are increasingly opting for convenience food, such as bakery products, to save time.
Additionally, the bakery processing equipment industry is witnessing significant technological advancements, such as automation, which is accelerating the market’s growth. The automation of bakery processing equipment helps in improving the production process’s efficiency and reducing production time, which is expected to augment the market growth in the near future.
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