China has the largest market share of any single country
CLEVELAND /PR Newsire/ — Global chocolate and confectionery machinery demand is projected to advance 7.1% per year to nearly $4 billion in 2021. Once considered luxury products in some developing nations, chocolate and other sweets have become more easily attainable as living standards increase in these countries, thus driving growth for this machinery. These and other trends are presented in Global Food Processing Machinery, 4thEdition, a new study from The Freedonia Group, a Cleveland-based industry research firm.
More information about this study is here:Â https://www.freedoniagroup.com/industry-study/global-food-processing-machinery-by-type-and-region-4th-edition-3574.htm
China is the largest single market for chocolate and confectionery machinery, accounting for $750 million in sales in 2016. However, there is still considerable room for growth, as a substantial number of manual food processing techniques are still utilized there. This creates a large potential market for equipment that can speed up and increase production to meet the fast growing needs of the local population.
Central and South America will see the fastest growth of any region in the chocolate and confectionery machinery market through 2021. Despite this growth, the region will not have a significant impact on demand, as it only accounts for 5% of the market.
About The Freedonia Group, a division of MarketResearch.com – The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Additional Machinery & Equipment studies can be purchased at www.freedoniagroup.com, www.marketresearch.com and www.profound.com.
Source: PR Newswire
