The global cupcake tray machines market is expected to increase at a CAGR of ~5.3%, during the forecast period.
Freshly released data from the cosmetic spray bottle market analysis show that the global demand for the cupcake tray machine market is anticipated to increase at 6% year-on-year growth in 2021and reach millions of units by 2031. This growth is attributed due to increasing consumption of bakery products through online platforms and brick-and-mortar stores.
The cupcake tray machine market provides an optimum solution for the production of cupcakes trays on a large scale. With the increase in several working families across the globe, there has been a rise in the usage of ready-made foods.
There has been a surge in sales of bakeries and confectionaries, because of the hectic life schedule of the working class. Their dependence on ready-to-eat food products, fresh produces and goods from bakeries and confectionaries has risen in the past decades. All these factors will contribute directly to the spike in sales for cupcake tray machine in the forecast period.
The introduction of the vegan lifestyle in the day-to-day aspect of millennials in combination with a huge amount of disposable income of middle-class families has skyrocketed the demand for bakery and confectionery products. Great innovations and advancements are coming up in the sector to decrease the wastage of raw materials used during the baking process.
Moreover, an increase in the number of in-home bakery services where homemakers are trying to make extra income for their families, which has increased the sales of cupcake trays. These factors will directly impact the demand for cupcake tray machine and drive market growth in future.
Global brands penetrating the local market has been seen in the markets of emerging economies, where brands are localizing their products w.r.t. the needs of the consumer. The same trend has been seen in the food and beverage industry with the rise of e-commerce.
The introduction of concepts of home kitchens and bakeries has given a rise to customized food products. Delivery platforms have changed the outlook of the industry by providing easy and fast deliveries and binding the gap between producers and consumers, eradicating the need for middle distributors. These reasons are anticipated to directly impact the demand for the cupcake tray machine market.
With the upcoming of cupcake wrappers, a huge blow has been seen in the target market. These wrappers are easy to manufacture and comes in eatable options too. Since this product has been introduced in the market, the traditional cupcake trays seem to be a less convenient option.
These wrappers are easily manageable, saves time and labour costs for cleaning & maintenance. Subsequently, this will be a major restraint and hinder the market growth of the cupcake tray machine market.
China is projected to be the largest growing emerging country in the cupcake tray machine market in terms of production capacity. Availability of cheap raw materials and low cost highly skilled labour are the deciding factors that will result in attracting global manufacturers to shift their manufacturing to China.
During the forecast period, the demand for cupcake tray machine will increase because of the high likeability of the cupcakes in the food and beverage market. Considering all these aspects, China will hold a prominent share in the cupcake tray machine market in the foreseeable future.
During the COVID-19 pandemic, the supply chain of industries broke down due to lockdown imposed by nations across the world. For the cupcake tray machine market, the manufacturing plants were shut down during the initial months of the pandemic.
The market faced a huge dip in revenue shares, but the impositions cooled off by the end of 2020 and markets reopened. End-use industries like confectionary and bakeries where the product was majorly used also faced a depreciation in financial profitability. Thus COVID-19 pandemic caused a decrease in sales of cupcake tray machine.
Explore Similar Insights
Cupcake Tray Machines Market
Thank you!
You will receive an email from our Business Development Manager. Please be sure to check your SPAM/JUNK folder too.
