Industrial Bakery Machinery Market

The article discusses the increasing demand for industrial bakery machinery worldwide, projecting a growth trend in market consumption over the next eight years. The market performance is expected to expand with a CAGR of +0.1% in volume and +2.1% in value from 2022 to 2030, reaching 1.2M units and $29.9B by the end of 2030. The United States leads in both consumption and production, with China dominating in production and exports. Imports and exports of industrial bakery machinery have shown growth trends, contributing to the overall market dynamics. Price fluctuations and trends in per capita consumption are also analyzed in the article.

Market Forecast

Driven by increasing demand for industrial bakery machinery worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.1% for the period from 2022 to 2030, which is projected to bring the market volume to 1.2M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.1% for the period from 2022 to 2030, which is projected to bring the market value to $29.9B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Industrial Bakery Machinery

In 2022, consumption of industrial bakery machinery increased by 34% to 1.2M units, rising for the second year in a row after two years of decline. Over the period under review, the total consumption indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +52.6% against 2020 indices. As a result, consumption reached the peak volume and is likely to continue growth in the immediate term.

The global industrial bakery machinery market value soared to $25.3B in 2022, picking up by 40% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +53.1% against 2020 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Consumption By Country

The country with the largest volume of industrial bakery machinery consumption was the United States (479K units), accounting for 40% of total volume. Moreover, industrial bakery machinery consumption in the United States exceeded the figures recorded by the second-largest consumer, China (210K units), twofold. The third position in this ranking was taken by India (86K units), with a 7.1% share.

In the United States, industrial bakery machinery consumption increased at an average annual rate of +17.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (+4.1% per year) and India (+3.5% per year).

In value terms, the United States ($11.4B) led the market, alone. The second position in the ranking was held by China ($3.1B). It was followed by India.

In the United States, the industrial bakery machinery market expanded at an average annual rate of +16.1% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of market growth: China (+1.2% per year) and India (+4.3% per year).

In 2022, the highest levels of industrial bakery machinery per capita consumption was registered in Qatar (8.2 units per 1000 persons), followed by the United States (1.4 units per 1000 persons), Spain (0.6 units per 1000 persons) and France (0.5 units per 1000 persons), while the world average per capita consumption of industrial bakery machinery was estimated at 0.2 units per 1000 persons.

From 2012 to 2022, the average annual rate of growth in terms of the industrial bakery machinery per capita consumption in Qatar totaled +38.9%. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: the United States (+16.8% per year) and Spain (+0.1% per year).

Production

World Production of Industrial Bakery Machinery

In 2022, production of industrial bakery machinery increased by 49% to 1.3M units, rising for the second year in a row after two years of decline. Overall, the total production indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +66.3% against 2020 indices. As a result, production attained the peak volume and is likely to continue growth in the immediate term.

In value terms, industrial bakery machinery production reduced to $16B in 2022 estimated in export price. Over the period under review, production continues to indicate mild growth. The pace of growth appeared the most rapid in 2016 with an increase of 14% against the previous year. Global production peaked at $18.7B in 2019; however, from 2020 to 2022, production failed to regain momentum.

Production By Country

China (736K units) constituted the country with the largest volume of industrial bakery machinery production, comprising approx. 57% of total volume. Moreover, industrial bakery machinery production in China exceeded the figures recorded by the second-largest producer, India (85K units), ninefold. The third position in this ranking was held by the United States (85K units), with a 6.6% share.

In China, industrial bakery machinery production increased at an average annual rate of +17.9% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: India (+3.6% per year) and the United States (-0.8% per year).

Imports

World Imports of Industrial Bakery Machinery

For the third consecutive year, the global market recorded growth in overseas purchases of industrial bakery machinery, which increased by 201% to 556K units in 2022. Overall, imports continue to indicate a strong increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, industrial bakery machinery imports fell to $2.7B in 2022. The total import value increased at an average annual rate of +2.2% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 21%. As a result, imports reached the peak of $3.1B, and then shrank in the following year.

Imports By Country

The United States prevails in imports structure, amounting to 412K units, which was near 74% of total imports in 2022. Qatar (24K units) and Thailand (9.6K units) followed a long way behind the leaders.

The United States was also the fastest-growing in terms of the industrial bakery machinery imports, with a CAGR of +50.6% from 2012 to 2022. At the same time, Qatar (+43.8%) and Thailand (+25.7%) displayed positive paces of growth. While the share of the United States (+67 p.p.) and Qatar (+3.7 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($327M) constitutes the largest market for imported industrial bakery machinery worldwide, comprising 12% of global imports. The second position in the ranking was held by Qatar ($20M), with a 0.7% share of global imports.

In the United States, industrial bakery machinery imports expanded at an average annual rate of +6.1% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Qatar (+26.4% per year) and Thailand (-8.1% per year).

Import Prices By Country

The average industrial bakery machinery import price stood at $4,899 per unit in 2022, reducing by -70.5% against the previous year. Over the period under review, the import price recorded a abrupt contraction. The pace of growth was the most pronounced in 2018 an increase of 7.1% against the previous year. Global import price peaked at $24,356 per unit in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Thailand ($1,155 per unit), while the United States ($794 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (-12.1%), while the other global leaders experienced a decline in the import price figures.

Exports

World Exports of Industrial Bakery Machinery

For the third consecutive year, the global market recorded growth in shipments abroad of industrial bakery machinery, which increased by 326% to 637K units in 2022. Over the period under review, exports posted a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, industrial bakery machinery exports fell to $2.7B in 2022. In general, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 21% against the previous year. As a result, the exports reached the peak of $2.9B, and then dropped in the following year.

Exports By Country

China dominates exports structure, finishing at 528K units, which was near 83% of total exports in 2022. It was distantly followed by Italy (33K units), achieving a 5.2% share of total exports. The United States (18K units) took a little share of total exports.

China was also the fastest-growing in terms of the industrial bakery machinery exports, with a CAGR of +61.0% from 2012 to 2022. At the same time, the United States (+15.2%) displayed positive paces of growth. Italy experienced a relatively flat trend pattern. From 2012 to 2022, the share of China increased by +78 percentage points.

In value terms, Italy ($743M) remains the largest industrial bakery machinery supplier worldwide, comprising 27% of global exports. The second position in the ranking was taken by China ($253M), with a 9.4% share of global exports.

From 2012 to 2022, the average annual growth rate of value in Italy was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: China (+7.8% per year) and the United States (+3.3% per year).

Export Prices By Country

The average industrial bakery machinery export price stood at $4,245 per unit in 2022, waning by -78% against the previous year. Over the period under review, the export price continues to indicate a abrupt decrease. The pace of growth was the most pronounced in 2016 an increase of 5.7%. The global export price peaked at $28,004 per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Italy ($22,349 per unit), while China ($480 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (-0.8%), while the other global leaders experienced a decline in the export price figures.

Source: IndexBox Market Intelligence Platform