Rise in demand for quick-service restaurants and fast-food
chains and change in consumer lifestyles have fueled the market
expansion. Technological advancements leading to energy-efficient
and smart kitchen appliances have attracted buyers from various
establishments, driving the sales of commercial cooking equipment.
Moreover, growth in food safety regulations and hygiene standards
has prompted establishments to upgrade their equipment.
Furthermore, the expansion of the hospitality sector, including
hotels and catering services, has boosted the market demand in
recent years.
WILMINGTON, Del., Sept. 12, 2024 /PRNewswire/ -- Allied Market
Research published a report, titled, "Commercial
Cooking Equipment Market by Product Type (Braising
Pans/Tilting Skillets, Broilers/Char Broilers/Grills/Griddles,
Cook-chill Systems, Fryers, Cookers, Ranges, Kettles, Steamers,
Ovens and Others), and End Use (Full-Service Restaurants,
Quick-Service Restaurants and Catering): Global Opportunity
Analysis and Industry Forecast, 2024-2034". According to the
report, the global commercial cooking equipment market size was
valued at $13.7 billion in 2023, and
is projected to reach $18.6 billion
by 2034, growing at a CAGR of 2.9% from 2024 to 2034.
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Prime determinants of growth
Rise in demand in the foodservice industry, fueled by change in
consumer lifestyles and increased dining out trends are the primary
factor driving the growth of commercial equipment market.
Technological advancements in cooking equipment, focusing on energy
efficiency, automation, and smart features, are attracting
businesses seeking to optimize operations. In addition, stringent
food safety regulations and hygiene standards have prompted
establishments to upgrade their equipment. The expansion of
quick-service restaurants and cloud kitchens globally has boosted
the demand for high-capacity, efficient cooking solutions.
Moreover, growing awareness of sustainability has led to the
adoption of eco-friendly equipment. Urbanization and the rise of
the hospitality sector in emerging economies are creating new
market opportunities. Furthermore, the increase in popularity of
open kitchens in restaurants drives the demand for aesthetically
pleasing, high-performance equipment. These factors collectively
contribute to the rapid growth and evolution of the commercial
cooking equipment market worldwide.
Report coverage & details:
Report
Coverage
|
Details
|
Forecast Period
|
2024–2034
|
Base Year
|
2023
|
Market Size in
2023
|
$13.7 billion
|
Market Size in
2034
|
$18.6 billion
|
CAGR
|
2.9 %
|
No. of Pages in
Report
|
306
|
Segments Covered
|
Product Type, End Use,
and Region
|
Drivers
|
• Technological
advancements and innovation
• Increase in
demand for energy-efficient appliances
• Growth of the
food service industry
• Stringent food
safety and hygiene regulations
• Rise in
adoption of smart kitchen equipment
|
Opportunities
|
• Rise in trend
of cloud kitchens and food delivery services
• Demand for
customized and multifunctional equipment
• Increased focus
on sustainable and eco-friendly products
|
Restraint
|
• High initial
investment costs
• Maintenance and
operational costs
• Market
saturation in developed regions
|
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Charts, Tables, and Figures):
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The ranges segment led the market share in 2023.
By product type, the ranges segment held the highest market
share in 2023 owing to their versatility and essential role in
professional kitchens. Ranges, which combine ovens and stovetops,
provide multiple cooking functions in a single appliance, which has
made them essential equipment for a wide variety of cooking
methods, from sauteing and boiling to baking and broiling. The
ability of ranges to handle high volumes and intense usage makes
them a staple in restaurants, hotels, and catering services. In
addition, advancements in range technology, such as enhanced
temperature control and energy efficiency, further boost the demand
for this segment in the global commercial cooking equipment
market.
The quick-service restaurant segment held the highest market
share in 2023.
By end use, the quick-service restaurant segment held the
highest market share in 2023 owing to its high demand for
efficiency, speed, and consistency in food preparation. QSRs rely
heavily on specialized equipment such as high-speed ovens, fryers,
and griddles to deliver food quickly and maintain a high turnover
rate. The need to serve a large volume of customers rapidly
necessitates advanced cooking technologies that ensure fast cooking
times without compromising quality. Moreover, QSRs often operate
for extended hours, which further drives the demand for durable and
reliable equipment. The rise of fast-food culture and the
proliferation of global QSR chains further drive the dominance of
this segment. Investment in cutting-edge, energy-efficient
appliances also helps QSRs reduce operational costs and adhere to
stringent health and safety regulations, which is expected to boost
the growth of this segment in the coming years.
North America held the
highest market share in 2023.
By region, North America held
the highest market share in terms of revenue in 2023. The region
has a well-established and growing food service industry, including
a high concentration of restaurants, hotels, and catering services,
which drives demand for advanced cooking equipment. Additionally,
there is a strong emphasis on adopting the latest technologies and
innovations, leading to higher investments in energy-efficient and
smart kitchen appliances and equipment. Stringent food safety and
hygiene regulations in the U.S. and Canada also necessitate regular upgrades and
replacements of commercial kitchen equipment. Furthermore, the
presence of leading manufacturers and suppliers in the region
enhances market growth and availability of high-quality products.
Lastly, the rise in trend of dining out and increase in popularity
of various cuisines contribute to sustained demand for commercial
cooking equipment in North
America.
Key Players: -
- Duke Manufacturing Co. Inc.
- Electrolux
- Dover Corporation
- Illinois Tool Works (ITW), Inc.
- Ali Group S.r.l.
- Welbilt, Inc.
- Middleby Corporation
- Alto-Shaam, Inc.
- Comstock-Castle Stove Co., Inc.
- Atosa USA, Inc.
The report provides a detailed analysis of these key players in
the global commercial cooking equipment market. These players have
adopted different strategies such as new product launches,
collaborations, expansion, joint ventures, agreements, and others
to increase their market share and maintain dominant shares in
different regions. The report is valuable in highlighting business
performance, operating segments, product portfolio, and strategic
moves of market players to showcase the competitive
scenario.
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Recent Industry Dev:
- In March 2024, Garland introduced
the XPress Grill to reduce energy consumption and enhance
productivity in busy commercial kitchens. Its modular design allows
for easy cleaning and maintenance, making it a valuable addition to
any food service operation.
- In January 2024, Henny Penny launched the latest generation of
FlexFusion Combi Ovens. These ovens come with advanced humidity
control and precision cooking capabilities, designed to optimize
food quality and consistency. The new FlexFusion models are also
equipped with enhanced data logging and remote monitoring features
to help kitchen managers maintain peak performance.
- In September 2023, Rational AG
expanded its iCombi Pro line to offer products with features such
as enhanced energy efficiency and more intuitive controls. The
iCombi Pro ovens are known for their versatility and ability to
adapt to various cooking methods, making them a staple in modern
commercial kitchens. The new models also include improved
self-cleaning functions and connectivity for smart kitchen
integration.
- In March 2023, Electrolux
Professional introduced the SkyLine Cook and Chill system, which
seamlessly integrates combi ovens and blast chillers. The system is
designed to improve efficiency and food safety in professional
kitchens by automating cooking and cooling processes.
- In August 2022, Vulcan, a leading
provider of commercial kitchen equipment, launched its K series
heavy duty ranges to withstand the rigors of high-volume kitchens,
offering precise temperature control and robust construction. The
series includes multiple configurations to suit various cooking
styles and kitchen layouts.
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