Commercial Kitchen Appliances - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029

Commercial Kitchen Appliances - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029

The Commercial Kitchen Appliances Market size is estimated at USD 86.74 billion in 2024, and is expected to reach USD 124.03 billion by 2029, growing at a CAGR of 7.41% during the forecast period (2024-2029).

Key Highlights

• The outbreak of the COVID-19 pandemic had a significant impact on the commercial kitchen appliances market. The pandemic resulted in the closure of many restaurants and food service establishments, leading to a decline in demand for commercial kitchen appliances. Additionally, supply chain disruptions and factory shutdowns also affected the production and availability of these appliances.
• However, as restaurants and other food service establishments started to reopen, the demand for commercial kitchen appliances began to recover. Many establishments are investing in new kitchen equipment to comply with new safety and sanitation guidelines, such as touchless technologies and improved air filtration systems.
• Commercial kitchen appliances, like refrigerators, ovens, kitchen utensils, and kitchen utensils used in commercial establishments. Restaurants, hotels, and clubs use commercial kitchen appliances for cooking, cleaning, and storage. Restaurants are gaining popularity among consumers owing to lifestyle changes, an increase in the working population, and a rising preference for outside food.
• Further, the growth in the hospitality industry, rising concerns about food safety, and increasing preference for quick-service restaurants over full-service restaurants are factors that are likely, to propel the market growth. Also, technological innovations in the food service industry, such as the launch of new and advanced products and energy-efficient and cost-effective commercial kitchen appliances, are expected to open numerous opportunities for market growth in the forthcoming years.

Commercial Kitchen Appliances Market Trends

Increasing Demand for Commercial Home Appliances in Quick Service Restaurants

• The demand for commercial kitchen appliances has grown significantly over the years due to the exponential increase in the number of the foodservice providers, such as quick-service and full-service restaurants. Hotels and restaurants require effective and advanced superior kitchen appliances for effective operations in their kitchen. These companies prefer kitchen appliances that offer high-quality services in a minimum time.
• The demand for quick-service restaurants is increasing globally. Due to urbanization, people are more inclined toward fast food, driving the demand for quick-service restaurants. Commercial appliances, such as refrigerators and kitchen hobs, are integral to quick-service restaurants.
• With an increasing demand for quick-service restaurants, the major quick-service chains are moving toward their business expansions. The rising trend of international and local QSR outlets and the opening of new QSR brands are projected to positively impact the commercial cooking appliances market over the forecast period.

North America Is Witnessing Highest Growth Among All Regions

• North America generated the highest revenue in the commercial kitchen appliances market, and it is expected to witness this growth in the forecast period. The growth in this region is mainly attributed, owing to the high spending capacity of the people starting a restaurant business. The new entrants in the restaurant business are purchasing a range of commercial cookware to improve the menu and also raise the kitchen performance, which is fuelling the growth of the market.
• Furthermore, the increasing number of food trucks and fast-food joints in this region is also fuelling the market growth. Other factors supporting market growth in North America include different eating habits, the increasing popularity of different cuisines, and a multicultural environment.

Commercial Kitchen Appliances Industry Overview

The commercial kitchen appliances market is capital-intensive and fragmented, as numerous players compete with one another to uphold their place in the market. The industry is dynamic in nature, with rapid technological advancements. The players are increasingly investing in innovating their product offerings. Some of the major players in the commercial kitchen appliances market include Electrolux, Meiko International, Falcon Professional Kitchen L.L.C, Carrier Corporation, and Rational AG.

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• The market estimate (ME) sheet in Excel format
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