Future Market Insights (FMI), a leading provider of market intelligence and consulting services, has released a report forecasting significant growth for the planetary mixers market in the coming years.
According to the report, the planetary mixers market is expected to surpass US$ 847.6 million by 2033, with a projected Compound Annual Growth Rate (CAGR) of 4.5% between 2023 and 2033. By the end of 2023, the market is anticipated to reach US$ 545.8 million.
The increasing demand for healthy baked goods, such as oats and whole-grain infused cookies or breads, is cited as a key factor driving market growth. Additionally, the rising number of supermarkets and hypermarkets worldwide is expected to further bolster demand for planetary mixers.
“Rising consumption of ready-to-eat products such as cookies, cakes, biscuits, bread, frozen pizzas, pastries, and tortillas is anticipated to drive the market. In addition to that, high demand for convenient food products amid rising per capita income across the globe is estimated to fuel demand,” says a lead analyst at Future Market Insights.
The report highlights a notable example of this trend: In September 2022, American rapper and producer Lil Yachty introduced Yachty’s Pizzeria, a new line of frozen pizza. This launch, a result of a partnership between Richelieu Foods and Universal Music Group, showcases the increasing popularity of frozen pizza consumption and its impact on market dynamics.
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Similarly, in November 2022, General Assembly Holdings Limited, a provider of cocktails, pizzas, and other food items for on-the-go consumption, joined hands with Impossible Foods, which is a plant-based meat provider in California, to launch its first frozen pizza. It is a naturally leavened frozen pie that can be prepared in less than 10 minutes.
Key Takeaways from the Planetary Mixer Market Study:
- Demand for planetary mixers in Australia is set to grow at 2% CAGR in 2023.
- Sales of planetary mixers across the U.K. are likely to grow at 1% CAGR in the evaluation period.
- The China planetary mixer market is projected to grow at a CAGR of 8% in the forecast period.
- The North America planetary mixer sector is projected to record an 38% CAGR between 2023 and 2033.
- The India planetary mixer industry is set to witness growth at a CAGR of 0% throughout the projected time frame.
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Competition Landscape: Planetary Mixer Market
Dito Sama, Sower Group, Li Yuan Machine Industrial Co. Ltd., VMI, Sammic S.L., and Univex Corporation are some of the renowned companies operating in the global planetary mixer market. Key companies are focusing on launching unique products equipped with advanced technology and unique features to strengthen their positions. A few other companies are aiming to engage in inorganic strategies such as mergers & acquisitions and partnerships & collaborations to co-develop innovative products and bolster their geographic presence.
Get Valuable Insights into Planetary Mixer Market
FMI, in its new offering, provides an unbiased analysis of the planetary mixer market presenting historical demand data (2018-2022) and forecast statistics for the period from (2023-2033). The study divulges compelling insights on the demand for planetary mixers based on product type (single planetary, double planetary), end user (pharmaceutical, chemical, food & beverages), and region.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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