As per Future Market Insights (FMI), the global Commercial Cooking Equipment market is expected to grow from US$ 11,631.0 Million in 2023 to US$ 23,094.7 Million in 2033. The overall sales in the market are projected to accelerate at 7.1% CAGR during the forecast period (2023-2033).
In the commercial cooking equipment market, trends are constantly changing. For example, new energy-efficient cooking equipment is being developed to help reduce operating costs for businesses. Additionally, advanced cooking technologies are becoming more popular as they can help improve food quality and safety. As the market evolves, it is important for businesses to stay up-to-date on the latest trends in order to make the best decisions for their needs.
Energy efficiency is a top priority for many businesses, and this is reflected in the latest cooking equipment on the market. Many manufacturers are now offering energy-efficient models that use less water and electricity, resulting in lower utility bills for businesses.
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Green initiatives are also becoming more popular in the commercial cooking equipment market. Products that are made from recycled materials or that use less water and energy are becoming more prevalent. This trend is likely to continue as businesses become more conscious of their impact on the environment.
Key takeaways from the commercial cooking equipment market
- The U.S. commercial cooking equipment market is currently valued at around US$ 1,344.5 Mn and it accounts for 34% of the overall North America commercial cooking equipment market.
- The U.K. commercial cooking equipment market is expected to surpass a valuation of US$ 1,191.0 Mn in 2023 and further expand at a robust pace during the next ten years.
- fryers segment is likely to grow at the highest CAGR during the forecast period, owing to increasing usage of commercial fryers for deep-fat frying a variety of foods including meats and vegetables like fries, onion rings, or tempura.
- The commercial cooking equipment market is projected to grow at a CAGR of 7.1% during the forecasted period.
The Commercial Cooking Equipment market has developed as demand for fast food products has increased. Similarly, growing popularity of fast foods like burgers, chicken, pizza, sandwiches, and short order meals that do not require table service are expected to push the demand for commercial cooking equipment during the next ten years. These Equipment also protects food products from contamination. The rise in consumer demand for processed food is a major driver of the sector's expansion.
Who is winning?
Major players in the Commercial cooking equipment market are more focused on innovation, companies are spending more on RD to increase the production speed and production quality. Major companies are determined to decrease the energy consumptions and increase production. Ali S.p.A, Illinois Tool Works Inc., Duke Manufacturing Co. Inc., The Middleby Corporation, and Alto-Shaam, Inc. are expected to be the top players in the commercial cooking equipment market.
Get Valuable Insights into Commercial Cooking Equipment Market
FMI, in its new offering, provides an unbiased analysis of the Commercial Cooking Equipment market presenting historical demand data (2017-2022) and forecast statistics for the period from (2022-2032). The study divulges compelling insights on the demand for Commercial Cooking Equipment Market based on Product Type (Broilers, Cook-chill Systems, Fryers, Ovens, Cookers, Ranges, Kettles, and Steamers, Others) Application (Full-Service Restaurants and Hotels, Quick Service Restaurants, Catering Services).
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Commercial Cooking Equipment Market by Category
By Product Type:
- Cook-chill Systems
- Full-Service Restaurants and Hotels
- Quick Service Restaurants
- Catering Services
- North America
- Latin America
- East Asia
- South Asia