Commercial Cooking Equipment Market size is set to grow by USD 4.32 billion from 2024-2028, Increasing number of food service establishments boost the market, Technavio

NEW YORK, Aug. 14, 2024 /PRNewswire/ -- The global commercial cooking equipment market size is estimated to grow by USD 4.32 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 5.97%  during the forecast period. Increasing number of food service establishments is driving market growth, with a trend towards focus on improving new technologies. However, increasing raw material prices of commercial cooking equipment  poses a challenge. Key market players include Ali Group S.r.l. A Socio Unico, Alto Shaam Inc., ATA Srl, ATOSA USA, Bidvest Group Ltd., BSH Hausgerate GmbH, Comstock Castle Stove Co. Inc., Dover Corp., Duke Manufacturing, Edward Don and Co., Electrolux Professional AB, FUJIMAK Corp., Hatco Corp., HOSHIZAKI Corp., Illinois Tool Works Inc., Manitowoc Ice, PARAMOUNT INDUSTRIES, Sri Sakthi Innovations, The Middleby Corp., and The Vollrath Co. LLC.

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Market Driver

The commercial cooking equipment market is witnessing significant advancements in technology, revolutionizing the way food is prepared on a large scale. Manufacturers are focusing on enhancing cooking technology to cater to the evolving needs of end-users. For instance, conveyor oven technology is improving with innovations like variable airflow impingement, which breaks the cold air halo around food, enabling even cooking and reducing preparation time by up to 30%. Garland Group's electric griddles offer pre-programmed menu upload and advanced diagnostics for operator convenience. Similarly, commercial fryers are introducing new technologies, contributing to market growth. These advancements streamline the cooking process, increasing efficiency and productivity. 

The Commercial Cooking Equipment Market is experiencing notable trends in 2021. Parts Town's after-sales services continue to gain traction, offering investment opportunities for entrepreneurs. Small cafés and restaurants are prioritizing cleanliness, hygiene, and safety, driving demand for energy-efficient equipment. Government support for the culinary industries is fostering growth in full-service restaurants and modular kitchens. High-tech features, such as cloud kitchens and custom units, are popular among food service businesses. Covid-19 impacted the market with lockdowns, home delivery, social distancing, and dark kitchens becoming the new norm. Commercial cooking equipment essentials like broilers, cook-chill systems, fryers, ovens, cookers, ranges, kettles, steamers, and various kitchen appliances remain in high demand for restaurants, hotels, catering, quick service restaurants, and fast foods. 

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Market Challenges

•         Commercial cooking equipment is primarily manufactured using stainless steel due to its durability compared to other metals and non-metal elements. However, the price volatility of stainless steel, as it is a commodity, poses a challenge for both manufacturers and end-users. The expanding demand-supply gap and the robust demand from industries like infrastructure and construction in regions such as China are expected to increase steel prices. Additionally, COVID-19 disruptions in raw material supply chains have further increased their prices. These factors may limit the growth of the commercial cooking equipment market during the forecast period.

•         The commercial cooking equipment market faces several challenges in the food service industry. For short-order meals like burgers, chicken, pizza, sandwiches, and other quick-served dishes, multi-functional and space-saving equipment is essential. Emerging nations present opportunities but also require cost-effective and energy-efficient solutions. Artificial intelligence (AI) and the Internet of Things (IoT) are transforming commercial kitchens with advanced technology, yet high maintenance costs and energy crisis are concerns. Brainy Insights identifies durability, functionality, safety, and hygienic regulations as key factors. Bakeries, cafeterias, grills, stoves, and HVAC systems are in demand. Distributors like Marcone offer a range of products, from cook chill systems to catering equipment, and even home appliances. The fast-food industry thrives on time-saving equipment, while takeaway meals and eateries/cafés prioritize energy savings. The hospitality sector and quick-service restaurants require efficient and cost-effective solutions. Low-income regions may need compact products. Hygienic and safety regulations are non-negotiable. Product types include cook chill systems, catering equipment, and HVAC. Plumbing repairs are also necessary for maintaining optimal kitchen performance.

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Segment Overview 

This commercial cooking equipment market report extensively covers market segmentation by  

1. End-user 
• 1.1 Quick-service restaurants
• 1.2 Full-service restaurants
• 1.3 Catering
2. Product 
• 2.1 Cookers
• 2.2 Ranges
• 2.3 Fryers
• 2.4 Ovens
• 2.5 Others
3. Geography 
• 3.1 APAC
• 3.2 North America
• 3.3 Europe
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Quick-service restaurants-  The quick-service restaurant (QSR) segment is experiencing notable growth due to increasing consumer preference for convenient, ready-to-eat food options. With busy lifestyles becoming the norm, QSRs catering to fast food items with limited menus and quick preparation times are in high demand. The global market for commercial cooking equipment is poised to benefit from this trend, as QSRs require specialized equipment to efficiently produce food items in large quantities. Despite facing competition from unorganized vendors and health concerns surrounding fast food, the affordable pricing and widespread availability of QSRs continue to drive demand. As a result, the global commercial cooking equipment market is anticipated to expand steadily during the forecast period.

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Learn and explore more about Technavio's in-depth research reports

The global commercial kitchen market is experiencing significant growth, driven by increasing demand for energy-efficient appliances and the rise of cloud kitchens. The market is projected to expand further due to advancements in smart kitchen technologies. Within this space, the global commercial combi ovens market is gaining traction, as these versatile appliances combine steam and convection cooking, enhancing efficiency and food quality. Key players are focusing on innovation and sustainability, meeting the evolving needs of the foodservice industry across various regions.

Research Analysis

The commercial cooking equipment market caters to various foodservice establishments, including bakeries, cafeterias, cafes, full-service restaurants, brainy insights, brasseries, fast-food chains, and cloud kitchens. Equipment offerings range from broilers and fryers to ovens, cookers, ranges, kettles, steamers, grills, stoves, and custom units. Durability and functionality are key considerations, with high-tech features and energy-efficient products increasingly in demand. Commercial kitchens require versatile equipment to prepare a wide range of dishes, from sandwiches to complex meals. Brands offer modular kitchen solutions to accommodate varying space requirements and cooking styles. The market continues to evolve, with innovation driving the development of advanced cooking technologies and solutions.

The commercial cooking equipment market encompasses a wide range of products designed for food service industries, including broilers, cook-chill systems, fryers, ovens, cookers, ranges, kettles, steamers, and more. These equipments cater to various sectors such as restaurants, hotels, catering, quick service restaurants, fast foods, bakeries, cafeterias, and cafes. Emerging nations are witnessing significant growth in this market due to the increasing demand for food service establishments. Advanced technology, such as artificial intelligence (AI) and the Internet of Things (IoT), is transforming commercial cooking equipment with multi-functional, space-saving, and time-saving solutions. The hospitality sector and quick-service restaurants are major consumers of these advanced products. The market faces challenges like high maintenance costs, energy crisis, and safety and hygiene regulations. Brainy Insights anticipates investment opportunities in compact, cost-effective, and energy-efficient products for small cafes and restaurants. Product types include cook chill systems, catering equipment, and various types of ovens, fryers, grills, stoves, and kettles. The fast-food industry and takeaway meals are driving demand for advanced technology and custom units. The Covid-19 pandemic has accelerated the trend towards cloud kitchens and home delivery. Major players distribute through channels such as home appliance stores, HVAC, plumbing repairs, and parts suppliers. Government support and investment opportunities exist for sustainable and energy-efficient equipment. The market also offers opportunities for manufacturers of braising pans, modular kitchens, and full-service restaurants. Cleanliness, hygiene, and safety are paramount in commercial kitchens, and efficiency and energy savings are crucial for profitability. The market is expected to grow steadily, driven by the increasing demand for convenience and affordability in the food service industry.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• End-user
• Quick-service Restaurants
• Full-service Restaurants
• Catering
• Product
• Cookers
• Ranges
• Fryers
• Ovens
• Others
• Geography
• APAC
• North America
• Europe
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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