According to a recent FMI report, the chocolate processing equipment market is anticipated to cross a valuation of US$ 6389 Bn by the end of 2033. The market is expected to grow at a CAGR of 8.6% between 2023 and 2033 and be valued at US$ 2800 Bn in 2023.
Equipment for processing chocolates and confectionery items offers a novel way to meet the rising demand for these items worldwide. A considerable need to adopt new practices, tools, and equipment in the making of chocolates and confectionery products is implied by the rising demand for new products. Equipment for processing chocolates and confectionery items is installed to address various problems that often manufacturers encounter, including rancidity in formulation ingredients, fat migration, improper heating, interfering scents in cocoa, and other issues.
Over the past two decades, there has been a consistent expansion in the global chocolate and confectionery sector. This demand is mainly attributed to rapid urbanization, new product introductions, innovative marketing techniques, shifting nutritional preferences, and growing practice of giving confectionary products as gifts.
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High acceptance of confectionery items is also being ensured by expanding brand consciousness, exposure to western products in emerging nations, development of new product categories, and launch of new product variants that would appeal to a wide variety of tastes. These factors are projected to push the chocolate processing equipment market in the next ten years.
High demand for healthy and functional confectionery products such as products that are free of artificial sweeteners & flavors, saturated fat, and trans fats, which require technologically advanced equipment to produce, is likely to spur the chocolate processing equipment market. Besides, emergence of new machinery and production methods in the chocolate and confectionery industry is expected to boost the global market.
Key Takeaways from the Chocolate Processing Equipment Market Study:
- The chocolate processing equipment market is expected to rise at a CAGR of 6% during the forecast period.
- The global chocolate processing equipment market is set to surpass US$ 6389 Bn by the end of 2033.
- North America chocolate processing equipment market is estimated to generate a share of around 36% in the next ten years.
- The global chocolate processing equipment market exhibited considerable growth at a CAGR of 5% during the historical period from 2018 to 2022.
- Based on product, the jellies and gummies segment is likely to dominate in the next ten years by generating the largest chocolate processing equipment market share.
“Rapid expansion of the global retail industry owing to increasing consumer spending, high disposable income, rising population, and surging GDP growth is estimated to drive the global chocolate processing equipment market in the next ten years,” says a lead analyst at Future Market Insights.
Competitive Landscape: Chocolate Processing Equipment Market
Some of the leading players present in the global chocolate processing equipment market are ACTINI GROUP, OVOBEL, OVO Tech, Pelbo, SANOVO TECHNOLOGY GROUP, and Moba among others.
North America currently holds the largest market share, and this region is expected to continue to expand during the projection period. This can be mainly attributed to the region’s growing population and rising disposable income levels. Furthermore, the North America chocolate processing equipment market is expected to increase in the next ten years due to the presence of a favorable legal and regulatory environment.
Get Valuable Insights into Chocolate Processing Equipment Market
FMI, in its new offering, provides an unbiased analysis of the chocolate processing equipment market presenting historical demand data (2018-2023) and forecast statistics for the period from (2023-2033). The study divulges compelling insights on the demand for chocolate processing equipment market based on machine type (depositors, formers, coating and spraying systems, mixer, cooler), product (soft confectionery, hard candies, chewing gums, gummies & jellies), and region.
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