Eastern Asia: Industrial Bakery Machinery Market 2024

Industrial Bakery Machinery Market Size in Eastern Asia

In 2022, the East Asian industrial bakery machinery market decreased by -10.5% to $X, falling for the fourth year in a row after four years of growth. Over the period under review, consumption saw a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Industrial Bakery Machinery Production in Eastern Asia

In value terms, industrial bakery machinery production dropped modestly to $X in 2022 estimated in export price. The total production indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +2.5% 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 +2.3% against 2020 indices. The most prominent rate of growth was recorded in 2016 when the production volume increased by 30% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Industrial Bakery Machinery Exports

Exports in Eastern Asia

In 2022, overseas shipments of industrial bakery machinery increased by 20% to X units, rising for the fifth consecutive year after two years of decline. In general, exports saw strong growth. The pace of growth appeared the most rapid in 2021 when exports increased by 60%. The volume of export peaked in 2022 and is likely to continue growth in the near future.

In value terms, industrial bakery machinery exports contracted slightly to $X in 2022. The total export value increased at an average annual rate of +2.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 35%. As a result, the exports reached the peak of $X, leveling off in the following year.

Exports by Country

China dominates exports structure, accounting for X units, which was near 89% of total exports in 2022. Japan (X units), Taiwan (Chinese) (X units) and South Korea (X units) followed a long way behind the leaders.

China was also the fastest-growing in terms of the industrial bakery machinery exports, with a CAGR of +22.9% from 2012 to 2022. Taiwan (Chinese) (-1.1%), South Korea (-1.6%) and Japan (-5.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by +46 percentage points.

In value terms, China ($X) remains the largest industrial bakery machinery supplier in Eastern Asia, comprising 65% of total exports. The second position in the ranking was held by Japan ($X), with a 23% share of total exports. It was followed by Taiwan (Chinese), with a 6.6% share.

In China, industrial bakery machinery exports increased at an average annual rate of +7.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (-4.2% per year) and Taiwan (Chinese) (-1.6% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2022, with a decrease of -17.1% against the previous year. In general, the export price faced a abrupt setback. The pace of growth appeared the most rapid in 2016 an increase of 0.8%. The level of export peaked at $X 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 Japan ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+2.6%), while the other leaders experienced mixed trends in the export price figures.

Industrial Bakery Machinery Imports

Imports in Eastern Asia

In 2022, supplies from abroad of industrial bakery machinery increased by 6.5% to X units, rising for the third year in a row after two years of decline. Overall, imports, however, saw a slight shrinkage. The growth pace was the most rapid in 2017 with an increase of 9.6%. As a result, imports attained the peak of X units. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, industrial bakery machinery imports stood at $X in 2022. The total import value increased at an average annual rate of +1.1% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 8.2%. The level of import peaked in 2022 and is likely to continue growth in years to come.

Imports by Country

China (X units) and South Korea (X units) were the key importers of industrial bakery machinery in 2022, reaching approx. 38% and 31% of total imports, respectively. Japan (X units) ranks next in terms of the total imports with a 13% share, followed by Taiwan (Chinese) (11%) and Hong Kong SAR (7.5%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by South Korea (with a CAGR of +6.3%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, China ($X) constitutes the largest market for imported industrial bakery machinery in Eastern Asia, comprising 50% of total imports. The second position in the ranking was taken by South Korea ($X), with a 25% share of total imports. It was followed by Japan, with an 11% share.

In China, industrial bakery machinery imports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (+4.8% per year) and Japan (+2.2% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per unit in 2022, waning by -2.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.8%. The pace of growth was the most pronounced in 2018 when the import price increased by 19% against the previous year. Over the period under review, import prices attained the peak figure at $X per unit in 2021, and then shrank modestly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per unit), while Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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