Commercial Cooking Equipment Market is expected to reach 18.8 billion by 2030

The growing hospitality industry across the globe, along with rising trend of tourism, and increasing number of quick-service restaurants worldwide is driving the growth of the Commercial Cooking Equipment Market.

The Commercial Cooking Equipment Market size was valued at USD 12.9 billion in 2023, and is predicted to reach USD 18.8 billion by 2030, with a CAGR of 5.1% from 2024 to 2030.

The growing number of tourists worldwide is significantly boosting the hospitality and food service industries. With the rapid expansion of hotels, resorts, and vacation rentals, the demand for heavy-duty kitchen equipment is increasing substantially to meet the culinary needs of travelers.

According to the World Travel and Tourism Council, the Travel & Tourism sector contributed 9.1% to the global GDP in 2023, marking a notable increase of 23.2% compared to its contribution in 2022.

As the tourism sector continues to flourish and play a significant role in the global economy, the market for commercial kitchen equipment is growing at a significant rate.

This creates lucrative growth opportunities for manufacturers and suppliers to innovate and diversify their product offerings, catering to the evolving requirements of the hospitality industry worldwide.

Moreover, the growth of quick-service restaurants (QSRs) worldwide is driving the demand for food service industry appliances due to their fast-paced nature and high volume of orders.

As the number of QSRs expands to meet the increasing consumer preference for convenient dining options, these establishments require cooking equipment capable of handling the large influx of customer orders to ensure operational success.

With rapid growth and expansion of major QSRs, including McDonald's, Starbucks, and KFC, the demand for advanced cooking equipment is on the rise.

For instance, McDonald's aims to reach 50,000 restaurants worldwide by 2027 and plans to leverage Google Cloud technology to enhance customer experiences and operations across thousands of its locations globally, starting in 2024.

Similarly, Starbucks anticipates having approximately 45,000 stores worldwide by the end of 2025. This expansion underscores the increasing need for efficient, high-capacity cooking equipment to support the operational demands of these growing QSR chains.

However, stringent regulations concerning food safety and emissions, such as the International Food Standards (IFS) and the Food Safety Modernization Act (FSMA), pose significant challenges for businesses investing in new commercial kitchen equipment.

Compliance with these regulations, enforced by governmental agencies and industry associations, requires the implementation of specific protocols for handling, storing, and preparing food.

Moreover, meeting emissions standards necessitates additional investments in ventilation and filtration systems, adding complexity and expenses to the equipment setup.

These regulatory requirements, coupled with the financial strain of purchasing compliant equipment and ongoing maintenance costs, impact small and medium-sized enterprises (SMEs) the most.

Consequently, these regulatory hurdles hinder the adoption of new cooking equipment, limiting market growth and expansion within the food service industry.

On the contrary, the integration of advanced technologies such as smart cooking appliances, IoT-enabled kitchen equipment, and automation solutions is poised to drive a significant increase in demand for professional cooking equipment in the coming years.

These technologies offer businesses opportunities to improve their operations, making them more efficient, productive, and sustainable. Smart appliances equipped with intelligent sensors and connectivity features enable precise monitoring and control, optimizing cooking processes and elevating food quality. 

IoT-enabled equipment facilitates real-time data monitoring and analysis, empowering kitchen staff to make informed decisions and adjustments for enhanced performance. Automation solutions streamline repetitive tasks like food preparation and cleaning, allowing staff to allocate more time to value-added activities.

This integration not only enhances operational efficiency but also reduces energy consumption and waste generation, aligning with the growing emphasis on sustainability in the food service industry.

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According to the report, the top players operating in the commercial cooking equipment market include AB Electrolux, Ali Group SRL, Illinois Tool Works Inc (Vulcan), John Bean Technologies Corp, The Middleby Corporation, Haier Group, Hoshizaki America Inc., Alto-Shaam Inc., Marmon Foodservice Technologies, and Duke Manufacturing Company among others.

For instance, April 2024, Hoshizaki acquired a significant stake in Oztiryakiler, a prominent Turkish manufacturer of food service equipment. This move forms a key component of Hoshizaki's strategic initiative to bolster its global product supply capabilities and broaden its footprint across Europe, the Middle East, Africa, and Asia.

Moreover, in March 2024, in JBT has introduced the SeamTec 2 Evolute technology tailored for infant formula powders to cater to market demands and improve operational efficiency. This innovative powder seamer is designed to meet the unique requirements of the powder market, offering cutting-edge technology for the production of infant formula.

Key Insights from the Commercial Cooking Equipment Market Report:

  • The information related to key drivers, restraints, and opportunities and their impact on the commercial cooking equipment market is provided in the report.

  • The value chain analysis in the market study provides a clear picture of the roles of each stakeholder.

  • The market share of the players in the global commercial cooking equipment market along with their competitive analysis are provided in the report.

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