DUBAI, UAE, Feb. 13, 2024 /PRNewswire/ -- As per the latest report published by Kings Research, the global Commercial Kitchen Appliances Market size was registered at USD 93.95 billion in 2022 and is projected to grow to USD 149.70 billion by 2030, recording a robust CAGR of 6.0% through the projection period of 2023-2030. The increasing number of foodservice establishments and the requirement for efficient and top-notch equipment are the key factors contributing to the rising demand for commercial kitchen appliances. Moreover, technological advancements have resulted in the emergence of energy-efficient appliances, which aid in reducing operating expenses for businesses in the foodservice industry.
Commercial kitchen appliances refer to a distinct classification of kitchen equipment and machines specifically created and constructed for utilization in professional foodservice environments such as restaurants, hotels, catering companies, cafeterias, and institutional kitchens. Commercial appliances differ from residential ones in terms of their size, robustness, efficiency, and sometimes their functionalities. They are specifically engineered to meet the demanding requirements and harsh environments of a professional kitchen, where they are required to function non-stop and endure frequent and intense usage.
Commercial kitchen appliances are generally larger and more robust compared to residential ones, enabling chefs and kitchen personnel to efficiently handle large quantities of food. Furthermore, these appliances often incorporate advanced functionalities like temperature regulation, multiple cooking zones, and specialized features tailored to meet the distinct requirements of professional chefs and culinary establishments.
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Competitive Landscape
Major players operating in the global commercial kitchen appliances market are implementing several growth strategies such as partnerships and collaborations to expand their global reach. For instance, in September 2021, The Middleby Corporation successfully finalized the purchase of Imperial Commercial Cooking Equipment, a leading manufacturer specializing in a diverse array of commercial kitchen products such as ranges, fryers, ovens, countertop equipment, and specialty cooking items. This strategic acquisition was intended to bolster The Middleby Corporation's standing in the commercial cooking equipment sector, while simultaneously broadening its portfolio to encompass an even more extensive selection of top-tier products tailored for the foodservice industry.
Key participants in the global commercial kitchen appliances market include:
- Middleby Corporation
- Electrolux AB
- Midea Group
- Hobart Corporation
- Blodgett Oven Company
- Hatco Corporation
- Garland Group
- Hoshizaki Corporation
- Vollrath Company LLC
- Traulsen & Company LLC
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Trending Now: UH Maui College Adds of a Modern Food Innovation Center
In November 2023, the new Maui Food and Innovation Center commercial kitchen and educational center successfully opened at the University of Hawai?i Maui College. The MFIC is designed to provide a platform for entrepreneurs, offering classes that guide them through various aspects of startup businesses, from conceptualization to consumer engagement, food manufacturing, and pitch presentations. The utilization of the commercial research and development kitchen plays a crucial role in facilitating the introduction of value-added food products into the market.
Equipped with state-of-the-art facilities, the center boasts advanced features such as a freeze dehydrator, a Baxter rotating oven, a bottling line complete with labels, and 35- and 65-gallon mixing kettles. These resources contribute to the center's commitment to fostering innovation and excellence in the culinary and food industry.
Growing Popularity of Refrigerators to Fuel Commercial Kitchen Appliances Market Growth
Based on product type, the refrigerator segment led the global commercial kitchen appliances market in 2022 and is likely to experience significant growth in the forthcoming years. The surge in the popularity of energy-efficient and technologically advanced refrigerators can be attributed to various factors. These include the growing demand for such appliances, the increasing disposable income of consumers, and evolving consumer lifestyles. The refrigerator segment has experienced significant growth due to the rising awareness about health and the need for food preservation.
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Rising Inclination Toward Quick Service Restaurants to Boost Commercial Kitchen Appliances Market Development
By application, the quick service restaurants segment held the largest share in the global commercial kitchen appliances market in 2022 and is anticipated to grow substantially over the forecast period. The rapid expansion of the quick service restaurants segment can be attributed to the rising need for convenient and speedy food choices among city dwellers. Moreover, the surge in popularity of digital ordering systems and delivery services has contributed significantly to the sector's growth. As people's lives become busier and more hectic, there is a growing inclination towards quick service restaurants as a convenient option for meals. This trend has created a profitable market for businesses in the food industry.
Increased Integration of Smart Technology to Aid Commercial Kitchen Appliances Market Expansion
The incorporation of smart technology into commercial kitchen appliances is a major factor supporting market development and presents a lucrative growth opportunity for industry players. This encompasses the utilization of Internet of Things (IoT) enabled appliances, which provide the capability of remote monitoring, predictive maintenance, and data analytics. These cutting-edge appliances aim to enhance efficiency and minimize operational expenses for businesses. Additionally, they enable real-time inventory tracking, enabling businesses to manage supplies and minimize waste effectively. This opportunity holds great potential for businesses in various industries, offering customized solutions for improved functionality and cost-effectiveness.
Furthermore, the integration of smart technology allows kitchen equipment to acquire knowledge and adjust to the unique requirements of a professional kitchen. This optimization of cooking durations and temperatures ensures consistent and superior outcomes. The application of smart technology in commercial kitchen appliances has a significant impact on the food service sector, not only in terms of energy conservation but also in enhancing productivity.
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North America to Dominate Commercial Kitchen Appliances Market Due to Widespread Adoption of Advanced Technologies
North America dominated the global commercial kitchen appliances market in 2022 and is projected to witness substantial growth through the assessment timeline. This considerable regional growth is mainly driven by the widespread acceptance of cutting-edge technologies and the active participation of key industry leaders. Moreover, the rising need for groundbreaking solutions and escalating investments in research and development initiatives are playing a pivotal role in propelling market expansion in this area. Due to these factors, North America is expected to maintain its dominance in the market in the coming years.
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Key Points from TOC:
1 Introduction of the Commercial Kitchen Appliances Market
1.1 Market Definition
1.2 Market Segmentation
1.3 Research Timelines
1.4 Limitations
1.5 Assumptions
2 Executive Summary
3 Research Methodology
3.1 Data Collection
3.1.1 Secondary Sources
3.1.2 Primary Sources
3.1.3 Research Flow
3.2 Subject Matter Expert Advice
3.3 Quality Check
3.4 Final Review
3.5 Bottom-Up Approach
3.6 Top-down Approach
4 Global Commercial Kitchen Appliances Market Outlook
4.1 Market Evolution
4.2 Overview
4.3 Market Dynamics
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.3.4 Challenges
4.4 Pricing Analysis
4.5 Porter's Five Forces Analysis
4.6 Value Chain Analysis
4.7 Macroeconomic Analysis
5 Impact of Russia-Ukraine War
6 Global Commercial Kitchen Appliances Market, By Product Type
7 Global Commercial Kitchen Appliances Market, By Application
8 Global Commercial Kitchen Appliances Market, By Geography
9 North America
10 Europe
11 Asia Pacific
12 Middle East & Africa
13 Latin America
14 Global Commercial Kitchen Appliances Market Competitive Landscape
14.1 Overview
14.2 Key Developments
14.3 Key Strategic Developments
14.4 Company Market Ranking
14.5 Regional Footprint
14.6 Industry Footprint
15 Company Profiles
15.1 Middleby Corporation
15.1.1 Key Facts
15.1.2 Financial Overview
15.1.3 Product Benchmarking
15.1.4 Recent Developments
15.1.5 Winning Imperatives
15.1.6 Current Focus & Strategies
15.1.7 Threat from competition
15.1.8 SWOT Analysis
15.2 Electrolux AB
15.2.1 Key Facts
15.2.2 Financial Overview
15.2.3 Product Benchmarking
15.2.4 Recent Developments
15.2.5 Winning Imperatives
15.2.6 Current Focus & Strategies
15.2.7 Threat from competition
15.2.8 SWOT Analysis
15.3 Midea Group
15.3.1 Key Facts
15.3.2 Financial Overview
15.3.3 Product Benchmarking
15.3.4 Recent Developments
15.3.5 Winning Imperatives
15.3.6 Current Focus & Strategies
15.3.7 Threat from competition
15.3.8 SWOT Analysis
15.4 Hobart Corporation
15.4.1 Key Facts
15.4.2 Financial Overview
15.4.3 Product Benchmarking
15.4.4 Recent Developments
15.4.5 Winning Imperatives
15.4.6 Current Focus & Strategies
15.4.7 Threat from competition
15.4.8 SWOT Analysis
15.5 Blodgett Oven Company
15.5.1 Key Facts
15.5.2 Financial Overview
15.5.3 Product Benchmarking
15.5.4 Recent Developments
15.5.5 Winning Imperatives
15.5.6 Current Focus & Strategies
15.5.7 Threat from competition
15.5.8 SWOT Analysis
Continued…………
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