The global commercial oven for bakery market is projected to have a slow-paced CAGR of 4.7% during the forecast period. The current valuation of the market is USD 1092 million in 2023. The market value of the commercial oven for the bakery market is anticipated to reach a high of USD 1,635.5 million by the year 2033. A historical market valuation of USD 1037.9 million in 2022 has been recorded by the experts of Future Market Insights for the concerned market during the base year.
This growth is supported by the following:
The manufacturers are paying attention to energy conservation and energy-efficient designs because consumers are demanding an oven from which they can save money on electricity.
Commercial ovens for bakeries have gained popularity due to the high demand for baked goods. Restaurants, hotels, and bakeries have found an increase in the demand for commercial ovens because of the decline in the taste preferences of the customers in comparison with traditional food. As the consumption of pizzas, burgers, and pastries has increased, so has the demand for commercial ovens for bakeries.
There has been a growing increase in the number of people working, an increase in disposable income, and a change in living standards. These factors have all contributed to an increase in the growth of the global commercial market. A major factor that has contributed to the increase in the demand for commercial ovens has been the growth of online platforms such as Zomato and Swiggy. In these platforms, there is the opportunity for consumers to order food online and receive discounts, which has contributed to the growth of the commercial oven for the bakery market.
The commercial oven for the bakery market in North America has the highest percentage of revenue share due to the high demand for technology that varies according to the preferences of the customers in this market. In spite of the fact that the market is growing at a healthy rate, Future Market Insights has also found that certain aspects are likely to hamper the pace of advancement in the long run. The curbing element can be summed up as follows:
The high cost associated with the ownership of baking ovens, in addition to the high maintenance costs of these ovens, may hinder the growth of the commercial oven for the bakery market.
Moreover, in the bakery oven market, there is fragmentation, and it is expected that the degree of fragmentation will increase during the forecast period. Market vendors must strengthen their foothold in the fast-growing segments while maintaining their positions in the slow-growing segments in order to maximize the current opportunities.
As a result of factors such as increased demand for high-quality bakery products, the expansion of bakery processing plants, and the manufacture of commercial bakery ovens that will comply with industry standards, the bakery industry is expected to experience immense growth over the next few years.
| Report Attribute | Details |
|---|---|
| Commercial Oven for Bakery Market Value (2023) | USD 1092 million |
| Commercial Oven for Bakery Market Anticipated Value (2033) | USD 1635.5 million |
| Commercial Oven for Bakery Projected Growth Rate (2023 to 2033) | 4.7% |
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In a market analysis conducted by FMI experts, it has been revealed that the commercial oven market for bakeries has been experiencing unprecedented growth in recent years. From 2022 to 2023, the market is expected to grow by approximately USD 54 million. During the period 2017 to 2022, the market registered a 3.2% CAGR.
As a result of the demand for the high volume of bakery products such as cakes, pies, cooking, bread, brownies, and other pastries, there has been a spike in the sale of commercial ovens for bakeries. As consumers’ preferences and needs change, bakery manufacturers are working to improve their product offerings to meet these changes.
Electrically Operated- By Operation Type
It is identified that the electrically operated commercial oven for bakery is the most recognized in the operation type category and has accounted for major shares during the base year. Currently, the electrically operated segment is anticipated to propel at a substantial rate, registering a CAGR of 4.4%. The segment accounted for a historical CAGR of 3.7% during the base period of 2017 to 2022. The reasons attributing to the steady advancement of the electrically operated commercial ovens for the bakery are identified as follows:
An increasing number of restaurants and hotels produce a large volume of food that must be reheated and defrosted. These restaurants find a wide range of applications for ovens.
Process- By Process Type
FMI has analyzed that the process segment accounts for the highest market share in the global commercial oven for the bakery market. At present, this segment is moving forward at a moderate pace, recording a CAGR of 3.8%. The segment accounted for a historical CAGR of 3% during the period from 2017 to 2022.
Principal Consultant
| Country | United States of America |
|---|---|
| Statistics | The commercial oven for the bakery market in the USA currently holds the maximum number of shares and has registered a market valuation of USD 146.8 million in 2023. The market is projected to reach a valuation of USD 408.8 million by the end of 2033. CAGR for 2023 to 2033: 4.5% Historical CAGR (2018 to 2022): 4% |
| Growth Propellants | The expanding market shares can be attributed to:
|
| Country | United Kingdom |
|---|---|
| Statistics | Europe is identified to hold a significant market share in the commercial oven for the bakery market. Currently, the UK is the leading country and is accountable for a market valuation of USD 48.9 million in 2023, advancing at a moderate-paced CAGR of 5.7%. The market valuation is expected to surpass USD 114.4 Million by 2033. Historical CAGR (2018 to 2022): 3.2% |
| Growth Propellants | Elements contributing to the growth of the market in the European region are:
|
| Country | Japan |
|---|---|
| Statistics | Japan is projected to advance at a rapid pace, registering a CAGR of 4.3% through the forecast period. The country is currently holding a market valuation of USD 35.3 million in 2023. FMI estimates valuation to surpass USD 103.1 million by the end of 2033. Historical CAGR (2018 to 2022): 3.2% |
| Growth Propellants | Factors contributing to the growth of the commercial oven for bakery market in Japan are:
|
| Country | Korea |
|---|---|
| Statistics | The Korean commercial oven for bakery market is anticipated to advance at a slow-paced CAGR of 2.6% during the forecast period. At present, the market is holding a valuation of USD 9.2 million in 2023. The analysts at FMI have projected a market value of USD 40.8 million by 2033. Historical CAGR (2018 to 2022): 2.5% |
| Growth Propellants | The factors attributing to the growth of the market in Korea are:
|
Emerging Companies Add an Edge to the Commercial Oven for Bakery Market Dynamics
The new entrants in the commercial oven for the bakery market are leveraging advances in technology to launch new products and gain a competitive advantage by leveraging advancements in technology. In order to remain competitive with consumer preferences and end-use industry demands, these firms invest continuously in research and development activities. As part of their efforts to strengthen their position within the forum and to assist in the further development of the bakery oven, efforts are being made to strengthen their foothold in the industry.
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The Key Players are making an Effort to Revamp the Market Dynamics by Revising their Strategies
A statistical study conducted by Future Market Insights in the concerned machinery market reveals several successful business strategies deployed by the major vendors of commercial ovens in the industry. In order to compete in the highly fragmented bakery oven market, vendors are deploying both organic and inorganic growth strategies to compete against each other.
In order to provide the end users with the finest quality bakery products, the manufacturers invest a significant number of resources into research and development activities, which helps them acquire more shares of the global market as they continue to make technological advancements in the machinery.
Some Commercial Oven for Bakery Global Forums
Recent Developments
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD Billion for Value and MT for Volume |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; and the Middle East & Africa |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Chile, Peru, Germany, UK, Spain, Italy, France, Russia, Poland, China, India, Japan, Australia, New Zealand, GCC Countries, North Africa, South Africa, and Turkey |
| Key Segments Covered | Operation Mode, Installation Type, Process, Sales Channel, Region |
| Key Companies Profiled | ASC Process Systems; Harper International; Rowan Technologies; Wisconsin Oven Corporation; JPW Ovens; Davron Technologies |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
{Food Equipment Speciality Retailers, Brand Franchised Stores, Modern Trade, E-commerce Platforms, Others}
The North American region is anticipated to lead the commercial oven for the bakery market during the forecast period.
The market valuation of the commercial oven for the bakery market stands at USD 1092 million in 2023.
The growth outlook for the commercial oven for the bakery market is predicted to advance at a CAGR of 4.7% from 2023 to 2033.
The commercial oven for the bakery market is likely to hold a valuation of USD 1635.5 million by 2033.
The electrically operated ovens are the key driver in the commercial oven for the bakery market.
1. Executive Summary 2. Market Overview 3. Market Background and Foundation Data 4. Global Demand (Units) Analysis and Forecast 5. Global Market - Pricing Analysis 6. Global Market Value (USD Million) Analysis and Forecast 7. Global Market Analysis and Forecast, By Operation mode 7.1. Gas operated 7.2. Electrically operated 8. Global Market Analysis and Forecast, By Installation Type 8.1. Freestanding 8.2. Tabletop 9. Global Market Analysis and Forecast, By Process 9.1. Batch 9.2. Process 10. Global Market Analysis and Forecast, By Sales Channel 10.1. Offline 10.2. Online 11. Global Market Analysis and Forecast, By Region 11.1. North America 11.2. Latin America 11.3. Europe 11.4. East Asia 11.5. South Asia & Oceania 11.6. Middle East & Africa 12. North America Market Analysis and Forecast 13. Latin America Market Analysis and Forecast 14. Europe Market Analysis and Forecast 15. East Asia Market Analysis and Forecast 16. South Asia & Oceania Market Analysis and Forecast 17. Middle East & Africa Market Analysis and Forecast 18. Country-level Market Analysis and Forecast 19. Market Structure Analysis 20. Competition Analysis 20.1. ASC Process Systems 20.2. Davron Technologies 20.3. Grieve Corporation 20.4. Harper International 20.5. JLS Ovens 20.6. JPW Ovens 20.7. Rowan Technologies 20.8. Steelman 20.9. Wisconsin Oven Corporation 20.10. Other Prominent Players 21. Assumptions & Acronyms Used 22. Research Methodology
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Commercial Oven for Bakery Market
