Commercial Cooking Equipment market was estimated at USD 8326.29 million, and it’s anticipated to reach USD 11778.0 million in 2028, with a CAGR of 5.95% during the forecast years.
Commercial Cooking Equipment Market OVERVIEW
The Commercial Cooking Equipment market has undergone significant transformation over the past few years. These tools are central to commercial kitchens worldwide, and their demand has seen consistent growth driven by increasing global gastronomy trends, evolving consumer preferences, and the rise in fast-casual and full-service restaurants. Ranging from ranges, ovens, and fryers to broilers and steamers, commercial cooking equipment ensures efficient and large-scale food preparation, pivotal for businesses to meet the daily demands of their customers.
While the industry previously saw steady growth from conventional eateries, the surge in the popularity of pop-up restaurants, food trucks, and delivery-only models has introduced newer dynamics. Advanced technologies like IoT (Internet of Things) integration, energy-efficient models, and multifunctional cooking equipment are shaping the future of this market. Furthermore, strict regulatory standards concerning energy consumption and food safety are pushing manufacturers to innovate, producing equipment that not only meets but exceeds the current requirements.
With globalization and the confluence of various global cuisines, there's a growing demand for specialized equipment catering to specific culinary traditions. This presents an opportunity for manufacturers to diversify their product offerings.
COVID-19 IMPACT
The onslaught of the COVID-19 pandemic in early 2020 brought unparalleled challenges to various industries, and the Commercial Cooking Equipment market was no exception. With worldwide lockdowns and stringent health measures, many restaurants and eateries were forced to temporarily or permanently shut their doors, leading to reduced demand for new equipment.
Supply chain disruptions caused by transport restrictions and closed manufacturing plants led to delays in production and increased lead times. The global restaurant industry, which is a primary end-user of commercial cooking equipment, saw significant revenue loss, leading to budgetary constraints and reduced capital expenditure on new equipment. Moreover, there was an evident shift from dine-in experiences to home-cooked meals, intensifying the crisis for many establishments.
However, one of the silver linings was the boom in food delivery and take-out services. As dine-in facilities closed, restaurants pivoted their business models to cater to the increased demand for home delivery, requiring different types of cooking equipment optimized for this mode of operation.
MARKET RECOVERY AFTER COVID-19
The aftermath of the pandemic, while challenging, has also shown resilience and adaptability in the Commercial Cooking Equipment market. As countries began rolling out vaccination campaigns and eased lockdown restrictions, a pent-up demand from the foodservice sector became evident. Many restaurants embarked on re-equipping their kitchens to adapt to the new normal.
The shift towards more delivery and takeaway services persisted, with restaurants investing in equipment tailored for this demand. Manufacturers recognized this shift and started designing devices that could cater to high-volume and efficient cooking for delivery models. Additionally, there was a noticeable trend in renovating commercial kitchens with a focus on hygiene and efficiency, driving up demand for modern cooking equipment.
Another key factor aiding the recovery is the rise of ghost kitchens or cloud kitchens. These are delivery-only restaurants without a traditional dine-in space, optimizing their operations for delivery and take-out. The proliferation of these kitchens, especially in urban areas, has significantly contributed to the resurgence in demand for commercial cooking equipment.
LATEST TRENDS
The Commercial Cooking Equipment market is no stranger to evolving trends. With technological advancements and changing consumer preferences, there are several emerging trends to note:
- IoT and Connectivity
Modern commercial cooking equipment often comes equipped with IoT capabilities. This allows restaurateurs and chefs to monitor and control their kitchen equipment remotely, ensuring optimal performance, energy efficiency, and even predictive maintenance.
- Eco-friendly Equipment
Given the growing emphasis on sustainability, many manufacturers are producing eco-friendly equipment. These not only consume less energy but also help restaurants reduce their carbon footprint.
- Multifunctional Equipment
Space is at a premium in commercial kitchens. Therefore, multifunctional tools that can perform multiple tasks, like combination ovens that can steam, roast, and bake, are on the rise.
- Automation
Automation in the cooking process ensures consistency, reduces labor costs, and increases efficiency. Devices that automate tasks, from cooking and frying to stirring, are seeing increased adoption.
DRIVING FACTORS
The growth of the Commercial Cooking Equipment market is attributed to several driving factors:
- Rising Number of Restaurants
Urbanization and the global spread of culinary cultures are leading to the opening of new restaurants, cafes, and bistros, necessitating new equipment.
- Technological Advancements
As mentioned, innovations in IoT, automation, and multifunctional devices are pushing establishments to upgrade their equipment.
- Emphasis on Energy Efficiency
With rising energy costs and a growing awareness of sustainability, energy-efficient cooking equipment is a sought-after choice for many restaurateurs.
RESTRAINING FACTORS
However, the market also faces some challenges:
- High Initial Investment
Premium commercial cooking equipment can be costly, making it a significant investment for small and medium-sized establishments.
- Maintenance Costs
While modern equipment comes with many features, it also requires regular maintenance, adding to operational costs.
- Evolving Regulations
As governments impose stricter energy and safety regulations, some existing equipment may become obsolete, forcing establishments to make unplanned upgrades.
MARKET OPPORTUNITIES
Despite the challenges, the market is rife with opportunities:
- Emerging Economies
Countries in Asia, Africa, and Latin America, with rising incomes and urbanization, are witnessing a surge in the hospitality sector, opening new markets for commercial cooking equipment.
- Innovation
As the demand for specialized and multifunctional equipment rises, manufacturers have the opportunity to introduce novel products to the market.
- Training and Services
Beyond just equipment sales, there's a growing demand for training staff to use these advanced tools, opening avenues for value-added services.
SEGMENTATION
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"By Product Type": Ovens, Grills, Fryers, Steamers, Broilers, and Others.
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"By Application": Restaurants, Hotels, Corporate Canteens, Institutional Kitchens, and Others.
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"By Distribution Channel": Direct Sales, Distributors, Online Retailers, and Others.
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"By Energy Source": Electric, Gas, and Others.
REGIONAL INSIGHTS
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"North America": Dominated by the U.S., with a significant number of quick-service restaurants and a focus on energy-efficient equipment.
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"Europe": Emphasis on sustainable and eco-friendly equipment, driven by strict regulations.
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"Asia-Pacific": Rapid urbanization and growing hospitality industry, especially in countries like China and India, make it a promising market.
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"Middle East & Africa": Growing tourism, especially in areas like the UAE, is pushing demand.
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"Latin America": Countries like Brazil and Mexico, with their rich culinary cultures, are seeing steady growth in the sector.
Global Industry Overview
The global commercial cooking equipment industry, as part of the larger hospitality sector, plays a critical role in the economic structures of many nations. While North America and Europe have historically dominated the market due to their advanced technological landscapes and dense concentration of restaurants, it's the emerging economies that are rapidly taking the center stage now.
These growing regions are the harbingers of untapped potential. Their vast populations, burgeoning middle classes, increased tourism, and rapidly urbanizing landscapes provide the perfect backdrop for the industry's boom. Especially noteworthy is the Bicycle Pedal market, which, despite its niche focus, is a testament to the global industry's vastness. Its rapid value growth within the global industry landscape signifies how specific segments, even within specialized markets, can achieve significant traction due to the right combination of innovation, regional demand, and economic factors.
Companies Update
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The Middleby Corp.: Headquarters: Elgin, Illinois, USA
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Illinois Tool Works: Headquarters: Glenview, Illinois, USA
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Hobart Corporation: Headquarters: Troy, Ohio, USA
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Rational Ag: Headquarters: Landsberg am Lech, Germany
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Ali S.p.A.: Headquarters: Cernusco sul Naviglio, Italy
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Alto-Shaam, Inc.: Headquarters: Menomonee Falls, Wisconsin, USA
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Middleby Corporation: Headquarters: Elgin, Illinois, USA
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THERMADOR: Headquarters: Irvine, California, USA
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Duke Manufacturing: Headquarters: St. Louis, Missouri, USA
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The Manitowoc Company Inc: Headquarters: Manitowoc, Wisconsin, USA
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AB Electrolux: Headquarters: Stockholm, Sweden
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Fujimak Corporation: Headquarters: Tokyo, Japan
Recent Developments
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Introduction of AI-powered cooking equipment, ensuring precision and consistency in large-scale food preparation.
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The rise of smart kitchens, where all equipment communicates for optimal performance and energy consumption.
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The implementation of blockchain technology in the supply chain, ensuring the traceability of components and enhancing equipment reliability.
REPORT COVERAGE
The global commercial cooking equipment report offers a comprehensive overview of the industry, highlighting key aspects such as market growth, segment analysis, regional insights, and major players' profiles. The report encompasses:
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Detailed market segmentation and its analysis.
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Insights into the driving and restraining factors influencing market growth.
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Evaluation of the impact of external factors like socio-economic shifts, technological advancements, and evolving consumer behaviors.
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A thorough regional analysis, shedding light on geographies showing promising growth and those that are maturing.
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Profiles of major industry players, providing insights into their strategies, innovations, mergers, and acquisitions.
NEW PRODUCTS
Innovation remains at the forefront of the commercial cooking equipment market. New product launches include:
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Smart Ovens
Equipped with sensors and AI, these ovens adjust cooking times and temperatures automatically, ensuring perfect results.
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Eco-friendly Fryers
These consume significantly less oil and energy, aligning with the industry's sustainability goals.
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Induction Cooktops with IoT
Allowing chefs to control and monitor from mobile devices, making multitasking more efficient.
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UV-C Sterilizing Equipment
In the wake of health concerns, UV-C lights are now incorporated to sterilize the cooking space after use.
REPORT SCOPE
The scope of the commercial cooking equipment report is expansive and designed to offer stakeholders a holistic view of the industry. The report encompasses:
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Historical data, tracing the evolution of the market over the past decade.
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Present market scenario, with a keen focus on the recent two years.
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Future projections, providing stakeholders an idea of market direction and potential opportunities.
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In-depth segment analysis, detailing each segment's growth pattern, driving factors, and future potential.
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A comprehensive regional overview, highlighting key growth regions and the factors contributing to their prominence in the global market.
Report Coverage | Report Details |
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Top Companies Mentioned |
The Middleby Corp., Illinois Tool Works, Hobart Corporation, Rational Ag, Ali S.p.A., Alto-Shaam, Inc., Middleby Corporation, THERMADOR, Duke Manufacturing, The Manitowoc Company Inc, AB Electrolux, Fujimak Corporation |
By Applications Covered |
Restaurant, Hotels, Others |
By Type Covered |
Commercial Gas Stoves, Commercial Microwaves, Charbroilers and Griddles, Commercial Ovens, Others |
No. of Pages Covered |
115 |
Forecast Period Covered |
2023 to 2030 |
Growth Rate Covered |
CAGR of 5.95% during the forecast period |
Value Projection Covered |
USD 11778.0 by 2030 |
Historical Data Available for |
2017 to 2022 |
Region Covered |
North America, Europe, Asia-Pacific, South America, Middle East, Africa |
Countries Covered |
U.S. ,Canada, Germany,U.K.,France, Japan , China , India, GCC, South Africa , Brazil |
Market Analysis |
It assesses Commercial Cooking Equipment Market size, segmentation, competition, and growth opportunities. Through data collection and analysis, it provides valuable insights into customer preferences and demands, allowing businesses to make informed decisions |
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