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Technavio’s market research analyst predicts the global commercial baking equipment market to grow steadily at a CAGR of above 5% by 2021. One of the primary drivers for this market is the rise in the number of food service establishments preparing baked goods. This increase in the rapid rise of the food service establishments can be attributed to the change in customer preferences towards simple baked goods that are both healthy and organic.
Also, the expansion of bakery chains is significantly contributing to the growth of the commercial baking equipment market. Owing to the growing demand for healthy and organic baked products, a number of vendors are attempting to open several stores in various regions of the globe. For instance, in 2015, Croatia-based Mlinar Bakery announced its plans to open multiple bakeries across Germany by the end of 2020. This consumer shift towards freshly baked products will segment the growth of the commercial baking equipment market during the forecast period.
One of the latest trends gaining traction in this market is the development of advanced technology and new product launches. The commercial baking equipment market is at a growing stage and is witnessing rapid technological advances. The focus of these advances is primarily to the operations or control of the equipment, where they are being designed with unique features such as touchscreen controllers, smart and automatic functions, and inbuilt safety sensors. Moreover, the rising demand from the end-users for more energy and water efficient equipment will propel the growth of the commercial baking equipment market in the coming years.
The global commercial baking equipment market is experiencing intense competition due to the introduction of several innovative and advanced solutions in the market. The key market players compete in terms of price, reliability, size, and service. Price is the major factor driving the competition among players. In order to survive this intensive competition, it is imperative for vendors to expand across regions while reviving domestic demand.
Other prominent vendors in the commercial baking equipment market include Alto-Shaam, Baker Perkins, Blodgett, Empire Bakery Equipment, Eurodib, Globe Food Equipment Company, Middleby Celfrost Innovations, Robot Coupe, and Vulcan.
During 2016, ovens dominated the commercial baking equipment market and accounted for a major part of the overall market share. The major reason for the dominance of this market is the wide adoption of commercial ovens by bakeries across the globe.
In this market study, analysts have estimated APAC to dominate the commercial baking equipment market during the forecast period. The high sale volumes of cookies and high fiber biscuits is the key contributor to the dominance of this region in the commercial baking equipment market.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by product
PART 07: Geographical segmentation
PART 08: Market drivers
PART 09: Impact of drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trends
PART 13: Vendor landscape
PART 14: Key vendor analysis
PART 15: Appendix
PART 16: Explore Technavio
Tags: kitchen equipment, food service, kitchen appliances, kitchen products, commercial baking equipment top companies, commercial baking equipment market trends,
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