Commercial Kitchen Equipment/Appliances Market Insights
Commercial Kitchen Equipment/Appliances Market is projected to grow from USD 89.45 Billion in 2022 to USD 159 Billion by 2030, at a CAGR of 6.6% in the forecast period, 2023-2030.
The Commercial Kitchen Equipment/Appliances Market is a rapidly growing sector, driven by the rising demand for advanced and efficient kitchen equipment in the foodservice industry. Commercial kitchen equipment includes a wide range of appliances, such as ovens, fryers, refrigerators, freezers, dishwashers, and food processors, among others.
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The global Commercial Kitchen Equipment/Appliances Market was valued at USD 92.8 billion in 2020 and is projected to reach USD 132.5 billion by 2026, growing at a CAGR of 6.2% during the forecast period. The growth of the market can be attributed to the increasing demand for technologically advanced and energy-efficient equipment, as well as the rising trend of eating out and the growing number of foodservice establishments globally.
One of the major trends in the Commercial Kitchen Equipment/Appliances Market is the adoption of smart kitchen equipment. Smart kitchen equipment is equipped with advanced sensors and software that enable remote monitoring, automation, and control of the equipment, improving the efficiency and reducing operational costs for the foodservice establishments.
Another major trend in the market is the increasing demand for energy-efficient equipment. Energy-efficient equipment helps reduce the overall operational cost for the foodservice establishments and is also environmentally friendly. The adoption of energy-efficient equipment is also driven by the stringent government regulations and initiatives aimed at reducing carbon emissions and promoting sustainable practices in the foodservice industry.
Market Segment
By Type :
Cooking Appliances, Refrigerator, Cooktop and Cooking Ranges, Ovens, Dishwashers, and Other Types
By Distribution Channel:
Direct and Indirect
By Application:
Quick Service Restaurant (QSR), Railway Dining, Institutional Canteen, Resort and Hotel, Hospital, Full-Service Restaurant (FSR), and Other Applications
By Geography:
North America– (U.S., Canada, Mexico)
Europe- (Germany, France, U.K., Russia, Italy, Spain, BENELUX, Rest of Europe)
Asia Pacific- (China, Japan, India, South Korea, Australia, ASEAN, Rest of Asia Pacific)
Latin America- (Brazil, Argentina, Chile, Rest of Latin America)
Middle East and Africa- (GCC, Turkey, South Africa, and the Rest of MEA)
Geographically, the market is dominated by North America, followed by Europe and Asia Pacific. The growth of the market in North America can be attributed to the high adoption rate of advanced and energy-efficient equipment by the foodservice establishments in the region. Asia Pacific is expected to witness significant growth during the forecast period, driven by the increasing number of foodservice establishments in the region and the rising disposable income of consumers.
In conclusion, the Commercial Kitchen Equipment/Appliances Market is a rapidly growing sector, driven by the rising demand for advanced and efficient equipment in the foodservice industry. The market is characterized by the adoption of smart and energy-efficient equipment, with North America and Asia Pacific being the major markets. The market is expected to witness significant growth in the coming years, driven by the increasing number of foodservice establishments globally and the rising trend of eating out.
The study provides answers to the following key questions:
- What type of customers buying the products and services from companies operating in the Commercial Kitchen Equipment/Appliances Market?
- What will be the roadmap for the product manufacturers operating in the Commercial Kitchen Equipment/Appliances Market for the forecast period, 2023-2030?
- What are the recent developments in the competitive landscape to look out for during the estimated period?
- What are the major trends influencing customers’ lives and their buying behaviour?
- How can brands best communicate with the customers they intend to target?
- When, where and how the customers want to use or consume the products or services?
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