Dublin, Oct. 17, 2023 (GLOBE NEWSWIRE) -- The "Commercial Kitchen Appliances Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global commercial kitchen appliances market has achieved remarkable growth, reaching USD 93.1 billion in 2022, and it is poised to continue its upward trajectory with a steady compound annual growth rate (CAGR) of 6.4% during the forecast period from 2023 to 2028. This robust growth is expected to propel the market to USD 137.0 billion by 2028.
Enhancing Culinary Excellence with Commercial Kitchen Appliances
Commercial kitchen appliances serve as essential tools for a wide range of establishments, including resorts, hotels, hospitals, railway dining, institutional canteens, and full-service restaurants (FSRs). These appliances encompass a diverse array of equipment, spanning refrigerators, freezers, icemakers, ranges, ovens, grills, microwaves, broilers, slicers, food processors, blenders, mixers and grinders, burners, toasters, griddles, deep fryers, dishwashers, and display food warmers. They play a pivotal role in elevating work efficiency, ensuring food preservation, reducing waste, optimizing space, and accelerating cooking processes.
Key Market Trends:
- Booming Hospitality Sector: The thriving hospitality sector stands as a principal catalyst for market expansion, witnessing increased demand for commercial kitchen appliances in hotels and resorts.
- Proliferation of Quick-Service Restaurants (QSRs): The rapid growth of quick-service restaurants, which rely on efficient appliances to deliver speedy service, is driving substantial market demand.
- Diverse Culinary Offerings: QSRs are diversifying their menus with multi-cuisine food preparations, catering to customers with varied taste preferences.
- Rise in Drive-Through Services: The surge in demand for drive-through services, fueled by busy lifestyles, is further contributing to market growth.
- Innovative Solutions: Leading players are introducing advanced appliance variants, intensifying market competition.
- Sustainability Focus: Eco-friendly and energy-efficient appliances are gaining traction in response to environmental concerns.
- Food Safety Emphasis: Growing awareness regarding food safety is propelling the adoption of commercial kitchen appliances.
Key Market Segmentation:
- Type: Refrigerators, Cooking Appliances (Cooktop and Cooking Ranges, Ovens), Dishwashers, and Others.
- Distribution Channel: Offline and Online.
- Application: Quick Service Restaurant (QSR), Railway Dining, Institutional Canteen, Resort and Hotel, Hospital, Full Service Restaurant (FSR), and Others.
Regional Insights:
- North America: The United States and Canada are significant markets for commercial kitchen appliances, driven by the expanding hospitality sector.
- Asia-Pacific: Countries including China, Japan, India, and South Korea are experiencing growth due to rapid urbanization and evolving dining preferences.
- Europe: Germany, France, the United Kingdom, and other European nations are witnessing growth due to investments in commercial kitchens.
- Latin America: Brazil, Mexico, and other countries are witnessing increased demand for appliances as the food industry expands.
- Middle East and Africa: Growth in industries such as hospitality and healthcare is driving market demand in this region.
Competitive Landscape:
Key players in the commercial kitchen appliances market include Alto-Shaam Inc., American Range Corporation, Carrier Global Corporation, Duke Manufacturing Company, Electrolux AB, G.S. Blodgett Corporation (The Middleby Corporation), Hamilton Beach Brands Inc., Hoshizaki Corporation, Interlevin Refrigeration Ltd., MEIKO Maschinenbau GmbH & Co. KG, The Vollrath Company LLC, and True Manufacturing Co. Inc. (Please note that this is a partial list of companies; the complete list is provided in the report.)
Key Questions Addressed:
- What was the size of the global commercial kitchen appliances market in 2022?
- What is the anticipated growth rate of the global commercial kitchen appliances market during 2023-2028?
- What are the primary factors propelling the global commercial kitchen appliances market?
- What has been the impact of COVID-19 on the global commercial kitchen appliances market?
- How is the global commercial kitchen appliances market segmented by type?
- What is the distribution channel breakdown in the global commercial kitchen appliances market?
- How is the global commercial kitchen appliances market segmented by application?
- What are the key stages in the industry's value chain?
- What are the principal drivers and challenges in the industry?
- What constitutes the structure of the global commercial kitchen appliances market, and who are the key players?
- What level of competition exists within the industry?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 142 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $93.1 Billion |
| Forecasted Market Value (USD) by 2028 | $137 Billion |
| Compound Annual Growth Rate | 6.7% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/vup76b
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
