The global commercial cooking equipment market is expected to grow from USD 11,631.0 Million in 2023 to USD 23,094.7 Million by 2033, with overall sales accelerating at 7.1% CAGR throughout the forecast period (2023-2033). The rapid expansion of the HoReCa sector across the world is a key factor boosting sales of commercial cooking equipment in the market.
Commercial cooking equipments are machines or tools used for cooking food in commercial kitchens. This equipment includes broilers, cook-chill systems, fryers, ovens, cookers, ranges, kettles, steamers, etc.
They are being extensively used in the food service industry sectors such as restaurants, hotels, and catering. They allow end users like quick service restaurants to get food to customers as quickly as possible and save precious space in order to offset skyrocketing operating, food, labor, and real estate costs. Thus, the growth of these sectors will eventually boost the global commercial cooking equipment market during the forecast period.
Similarly, the growing popularity of fast foods like burgers, chicken, pizza, sandwiches, and short-order meals that do not require table service are expected to push the demand for commercial cooking equipment during the next ten years.
Furthermore, the substantial development in the commercial use of cooking equipment, particularly from emerging nations is anticipated to drive the expansion of the global commercial cooking equipment market.
In addition to this, the development of advanced commercial cooking equipment is expected to generate lucrative growth avenues for the commercial cooking equipment market over the next ten years.
Leading manufacturers are integrating novel technologies like the internet of things (IoT) and artificial intelligence (AI) in commercial cooking equipment to make them more appealing to end users. This will help the overall market to grow swiftly.
Regionally, North America holds the largest market share of the global commercial cooking equipment market and the trend is likely to continue during the forecast period. This can be attributed to the increasing number of food joints such as hotels and restaurants across countries like the USA and Canada.
| Attribute | Key Statistics |
|---|---|
| Commercial Cooking Equipment Market Estimated Value (2023) | USD 11,631.0 Million |
| Projected Market Value (2033) | USD 23,094.7 Million |
| Value-based CAGR (2023 to 2033) | 7.1% |
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The global commercial cooking equipment market is anticipated to expand at 7.1% CAGR between 2023 and 2033 in comparison to the 5.4% CAGR registered during the historical period from 2018 to 2022.
The rapid expansion of the food service industry across the world and increasing consumption of fast food are some of the key factors providing impetus to the growth of the commercial cooking equipment market.
Commercial cooking equipment is being increasingly used in restaurants, hotels, and other commercial kitchens for the preparation of food. These machines allow end users to prepare a wide range of food products in quick intervals of time while minimizing human intervention.
Thus, the increasing number of restaurants and hotels along with the growing demand for fast food across the globe will continue to boost the worldwide commercial equipment market. Similarly, advancements in cooking technology and growing demand for multi-functional, efficient, and space and time-saving commercial cooking equipment are expected to further aid in the expansion of the global market.
A number of influential factors have been identified that are expected to drive the global commercial equipment market forward during the projection period (2023 to 2033). Besides the proliferating aspects prevailing in the market, the analysts at FMI have also analyzed the restraining elements, lucrative opportunities, and upcoming threats that can somehow impact market dynamics.
The drivers, restraints, opportunities, and threats (DROTs) identified are as follows:
DRIVERS
RESTRAINTS
OPPORTUNITIES
THREATS
Principal Consultant
Rising Consumer Spending Boosting the US Market
The US commercial cooking equipment market is currently valued at around USD 1,344.5 Million and it accounts for 34% of the overall North American commercial cooking equipment market. This is due to a boom in fast food and quick service restaurants and rising consumer spending on fast food across the United States.
In recent years, changing lifestyles and increasing consumer spending has boosted sales across restaurants in the US According to the National Restaurant Association, despite the COVID-19 impact, restaurant industry sales totaled USD 799 billion in 2021. This will continue to boost the commercial cooking equipment market in the country during the forecast period.
Similarly, the growing need for preparing food in a short time and maintaining the freshness of the food along with the rising popularity of cloud kitchens n is increasing the demand for commercial cooking equipment across the country.
Rapid Expansion of Food Service Industry Pushing Demand in the UK Market
The UK commercial cooking equipment market is expected to surpass a valuation of USD 1,191.0 Million in 2023 and further expand at a robust pace during the next ten years. Currently, the UK holds around 32% share of the Europe commercial cooking equipment market.
Growth in the UK commercial cooking equipment market is driven by rapid urbanization and the booming food service industry. In recent years, there has been a substantial rise in the number of quick-service restaurants across the UK This has generated huge demand for advanced cooking equipment and the trend is likely to continue during the forecast period.
Rapidly Growing Population and Availability of Low-Cost Products is Boosting Sales in China
According to FMI, China's commercial cooking equipment market is valued at over USD 977.0 Million and it accounts for 35% of the Asia pacific commercial cooking equipment market. This can be attributed to the rising fast-food consumption across the country due to the rapidly growing population and economic boom.
Similarly, the easy availability of advanced commercial cooking equipment at much lower prices is positively influencing the commercial cooking equipment market in the country.
Ranges Remain the Top Selling Product Type Category
As per FMI, the ranges segment currently holds the largest market share of the global commercial cooking equipment market and it is expected to grow at a healthy pace during the next ten years. This can be attributed to the rising adoption of ranges across various end-use sectors.
End users like restaurants and hotels are continuously investing in cooking ranges that are time and space-saving and can easily perform multiple functions of cooking, boiling, grilling, frying, and baking.
However, the fryer segment is likely to grow at the highest CAGR during the forecast period, owing to the increasing usage of commercial fryers for deep-fat frying a variety of foods including meats and vegetables like fries, onion rings, or tempura.
Quick Service Restaurants to Generate Maximum Revenues
Based on applications, the global commercial cooking equipment market is segmented into full-service restaurants and hotels, quick-service restaurants, and catering services. Among these quick service restaurants segment holds the largest revenue share and it is expected to grow at the highest CAGR during the projection period.
The growth of the target segment is attributed to the rising adoption of commercial cooking equipment across quick-service restaurants.
In recent years, factors such as growing consumer preference for fast food, changing lifestyles, an increase in the working women population, and rapid urbanization have resulted in the expansion of quick service restaurants globally and the trend is likely to continue during the forecast period. This in turn will generate high demand for commercial cooking equipment like broilers, fryers, ovens, cookers, ranges, and kettles.
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The global commercial cooking equipment market has become highly competitive due to the large presence of regional and domestic players. In order to capitalize and gain an upper hand in the market, companies are adopting strategies such as new product launches, mergers, acquisitions, collaborations, partnerships, and the strengthening of distribution channels. For instance,
The ever-increasing demand for commercial cooking equipment has tempted various companies to enter this market space. As a result, there has been a rapid rise in the number of start-ups offering cooking equipment for commercial kitchens. One such company is Srihari Kitchen Equipment.
Headquartered in Coimbatore, Tamil Naidu India, Srihari Kitchen Equipment is a privately held company founded in 2010. The company manufactures and supplies a wide range of cooking equipment to end users like restaurants and hotels.
Since its establishment, Srihari Kitchen Equipment has become a leading manufacturer and exporter of equipment for commercial kitchens, canteens, bakeries, hotels & messes, etc. The company offers high-quality and cost-efficient kitchen equipment like gas ranges.
| Attribute | Details |
|---|---|
| Estimated Market Size (2023) | USD 11,631.0 Million |
| Projected Market Size (2033) | USD 23,094.7 Million |
| Anticipated Growth Rate (2023 to 2033) | 7.1% |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD Million for Value and Units for Volume |
| Key Regions Covered | North America; Latin America; Europe; Asia Pacific; Oceania; Middle East & Africa (MEA) |
| Key Countries Covere | The USA, Canada, Mexico, Germany, The UK, France, Italy, Spain, China, Japan, India, South Korea, Australia, Brazil, Argentina, South Africa, UAE |
| Key Segments Covered | Product Type, Applications, Region |
| Key Companies Profiled | Ali S.p.A; Illinois Tool Works Inc.; Duke Manufacturing Co. Inc.; The Middleby Corporation; Alto-Shaam, Inc.; Edward Don & Company; Fujimak Corporation; Manitowac Company Inc.; Rational AG and AB Electrolux.; ACP, Inc.; AMTek Microwaves; Bizerba USA Inc.; Caddy Corporation; Duke Manufacturing Co.; Electrolux AB; R.M Kitchen Equipments Pvt. Ltd.; RM GASTRO s.r.o. |
| Report Coverage | Market Forecast, Company Share Analysis, Competitive Landscape, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The worldwide commercial cooking equipment market size is expected to reach USD 11,631.0 Million in 2023.
As per FMI, the global commercial cooking equipment market is expected to grow at a CAGR of 7.1% during the forecast period.
The global commercial cooking equipment market is projected to surpass a valuation of USD 23,094.7 Million by 2033.
The US, China, the UK, Germany, and Mexico are the major countries driving demand for commercial cooking equipment.
Ali S.p.A, Illinois Tool Works Inc., Duke Manufacturing Co. Inc., The Middleby Corporation, and Alto-Shaam, Inc. are expected to be the top players in the commercial cooking equipment market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Broilers 5.2. Cook-Chill Systems 5.3. Fryers 5.4. Ovens 5.5. Cookers 5.6. Rangers 5.7. Kettles 5.8. Steamers 5.9. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Applications 6.1. Full-Service Restaurants and Hotels 6.2. Quick Service Restaurants 6.3. Catering Services 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Europe 7.4. East Asia 7.5. South Asia 7.6. Oceania 7.7. Middle East & Africa (MEA) 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Ali S.p.A 17.2. Illinois Tool Works Inc. 17.3. Duke Manufacturing Co. Inc. 17.4. The Middleby Corporation 17.5. Alto-Shaam, Inc. 17.6. Edward Don & Company 17.7. Fujimak Corporation 17.8. Manitowoc Company Inc. 17.9. Rational AG and AB Electrolux 17.10. ACP, Inc. 17.11. AMTek Microwaves 17.12. Bizerba USA Inc. 17.13. Caddy Corporation 17.14. Others (on demand) 18. Assumptions & Acronyms Used 19. Research Methodology
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Commercial Cooking Equipment Market
