With world population growth shifting toward emerging markets, such as the Asia Pacific region, it’s no surprise the bakery and snack market is growing faster globally than in the US, according to the PMMI report, Bakery and Snacks—Market Assessment 2012. The shift is good news for OEMs marketing equipment to food processors in these growing markets.

The bakery and snacks market report notes bakery and snack products manufacturers will see growth—with 4 percent growth predicted in US sales of packaged snacks through 2015, but 7 percent annual growth to $334 billion in global sales of snack foods in the same period. Globally, bakery product sales are expected to increase 4.5 percent annually to $410 billion by 2015.