Rise in business-related travel activities, surge in number of food joints such as hotels & restaurants, and the increasing trend of dining out drive the growth of the global pasta cookers market.
PORTLAND, Ore., Aug. 25, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Pasta Cookers Market by Product Type (Electric Pasta Cooker, Gas Pasta Cooker), by End User (Full Service Restaurants, Quick Service Restaurants, Caterings), by Distribution Channel (Online, Offline): Global Opportunity Analysis and Industry Forecast, 2021-2031."According to the report, global pasta cookers industry generated $710.00 million in 2021, and is expected to reach $1.24 billion by 2031, manifesting a CAGR of 5.8% from 2022 to 2031.
Prime determinants of growth
Rise in business-related travel activities, surge in number of food joints such as hotels & restaurants, and the increasing trend of dining out drive the growth of the global pasta cookers market. In addition, increase in cross-border investments and surge in experiments and innovations in a variety of cuisines supplement the market growth. On the other hand, continuous innovations in pasta cooker products to cater to the requirements of customers and offer enhanced convenience create new opportunities in the coming years.
Covid-19 Scenario
- Manufacturing activities of pasta cookers were halted due to lockdown restrictions implemented by governments of many countries. Moreover, shortage of raw materials and disruptions in supply chain presented challenges in carrying out manufacturing activities with full capacity.
- The demand from food service outlets such as quick service restaurants, cafes, hotels, and fast food outlets reduced considerably due to lockdown and reduction in customer base to avoid cross-contamination. This, in turn, lowered the demand for pasta cookers.
- However, the demand rose steadily post-lockdown as daily operations got back on track. Many restaurants began offering no-contact deliveries to increase the number of orders for pasta from consumers.
- Online deliveries led resulted in to slow recovery of the demand.
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The electric pasta cooker segment to maintain its lead position during the forecast period
Based on product type, the electric pasta cooker segment accounted for the largest market share in 2021, contributing to more three-fifths of the global pasta cookersmarket, and is projected to maintain its lead position during the forecast period. This is due to acceptance of this type of past cooker as a more sustainable option as compared to gas pasta cooker. However, the gas pasta cooker segment is estimated to manifest the largest CAGR of 6.4% from 2022 to 2031, owing to acceptance for its effectiveness in making pasta and ability to holds the high temperature for longer period of time.
The quick service restaurants segment to maintain its dominant share during the forecast period
Based on end user, the quick service restaurants segmentcontributed to the largest market share in 2021, accounting for nearly half of the global pasta cookers market, and is expected to maintain its dominant share during the forecast period. This is attributed to increase in demand for fresh, tasty, and appealing food at affordable cost and increase in trend of building franchise models.However, the caterings segment is estimated to manifest the highest CAGR of 6.3% from 2022 to 2031. This is due to surge in demand for catering services from companies, schools, and other prominent business firms along with rise in trend of parties, events, and functions, and other social gatherings.
The offline segment to continue its highest contribution throughout the forecast period
Based on distribution channel, the offline segment accounted for the largest market share in 2021, holding more than fourth-fifths of the global pasta cookers market, and is estimated to continue its highest contribution throughout the forecast period. This is due to availability of a wide range of white goods, especially categorized and organized in large shelves in supermarkets/hypermarkets, malls, and specialty stores. However, the online segment is projected to register the fastest CAGR of 6.8% from 2022 to 2031. This is attributed tosurge in penetration of various online portals in developing regions and rise in number of offers or discounts offered by them.
North America to maintain its lead status by 2031
Based on region, North Americaheld the largest market share in 2021, accounting for nearly two-fifths of the global pasta cookers market, and is expected to maintain its lead status by 2031. This is due tohigh adoption of advanced pasta cookers and smart deep fryers, the presence of huge number of restaurants, and rise in outdoor eating habits of consumers in the region. However, LAMEA is projected to grow at the largest CAGR of 7.0% from 2022 to 2031, owing torise in number of restaurants and hotels with the development of the tourism industry and considerable economic growth in many countries in this region.
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Leading Market Players
- Ali Group Company
- Electrolux
- Globe Food Equipment Co.
- Imperial Commercial Cooking Equipment
- Keating of Chicago
- KoninklijkePhillips
- Mvp Group International,Inc.
- Nemco Food Equipment Ltd.
- Panasonic Corporation
- The Middleby Corporation
- Town Food Service Equipment Co.
- WMF Group
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