The commercial sink market is anticipated to expand with a healthy CAGR of 6.3% between 2023 and 2033. The market holds a value of USD 810.4 Million in 2023 while it is expected to cross a value of USD 1409.2 Million by 2033.
| Attributes | Details |
|---|---|
| Commercial Sink Market Size (2023E) | USD 810.4 Million |
| Commercial Sink Market Projected Size (2033F) | USD 1409.2 Million |
| Value CAGR (2023 to 2033) | 6.3% |
| Historic CAGR % (2018 to 2022) | 3.7% |
Stainless commercial sinks are majorly used in restaurants and food outlets to organize the dishwashing process along with getting utilized. The hotels and restaurants include enhanced kitchenware such as advanced commercial sinks. Other than that, the rising number of food outlets that help during the renovation, equipping the kitchen with advanced gear. The innovative sinks come with multi compartments for different dishes and utensils.
Commercial kitchen sinks are also majorly used in the flourishing meat business for washing the meat. The preference depends on whether the sink is destined for home or commercial use, as well as the available space and budget. The source of plumbing for the taps and removal may play a major role.
The sink’s addition adds a cohesive look to the whole kitchen while IoT-enabled kitchen gears shift the dishes directly to the sink while being the bridge between the smart sinks and the other kitchenware. Vendors try to make their sink the best while they work on certain factors that can be discussed further:
Affordability
The right set of prices with new companies launching their economical commercial sinks to expand their market space and fuel the sales of commercial sinks. This includes discounts on installation charges and on multiple variants of the sink helping it keep an affordable outlet for the end users. The influx of IoT-enabled or smart sinks is also acting as a significant contributor to the industry’s progression. However, the high installation cost of the products may restrict their adoption to some extent.
Versatile and Uncrackable
The versatile and strong base of the new commercial sinks has made it possible for them to carry a huge number of dishes with different compartments to carry various other utensils such as cups, spoons, and various bowls. The stainless steels make it tougher while the unique designs given to the sinks provide it versatility. Businesses are encouraged to use commercial sinks as a result of the integration of new and cutting-edge materials with this problem-solving design.
Hygienic and Durable
The restoration of the hotel and restaurant industry along with the automation of most of the business verticals including the kitchen has taken place. New brands also take care of hygiene by providing different tools such as small vipers that clean the sink’s surface and provide it the shine that makes it look new. As a result, the surface is clean, and the large area is surrounded by a sturdy structure and a stand that fits properly.
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The market during the previous forecast period slowed due to COVID-19. FMCG along with the hospitality sector such as hotels, eateries, and outlets was shut down and the market flourished at a much lower CAGR of 3.7%. This occurred as a result of the lockdown, which was followed by individuals refraining from eating risky outside food to stop the spread of the virus. The high fall in CAGR value results from the complete shutting down of a business to temporarily going out of the funds to renovate or rebuild their business. Though, now with the government support and subsidies along with the high spike in the demand for outside fast food along with the increasing online food demand has finally put the business back on track for the commercial sink vendors.
The major drivers for the commercial sink market are the long list of applications and the rising demand from bars, cafes, restaurants, and hotels. Furthermore, social gatherings such as parties, concerts, and movie shows keep these sinks for serving different kinds of drinks to the end users. The other small-range suppliers who work with medium-scale enterprises in customizing the sink in accordance with their needs can be seen and defined while these verticals can be viewed and understood. The integrated sink holds the fryer and other kitchen equipment for the ease of the chef. Other than this, new and advanced lighting systems with utensil-specific compartments are pushing restaurants to adopt the latest technology including commercial sinks.
Restraints
The biggest factor that hinders the sale of commercial sink systems is the high cost associated with it along with the introduction of cloud kitchen that takes away the whole dining experience with its fast delivery systems. Therefore, not only COVID-19 but new eatery experiences have also hampered the sales of commercial sinks. The application of sustainable disposables is also hindering the demand for commercial sinks.
Principal Consultant
In 2023, the demand for stainless steel sinks is expected to hold the biggest share of 72.6%. The growth is attributed to its durability and easy supply chain. Other than this, Stainless steel makes the sink steady and easily cleanable due to its smooth surface along with its affordable price and easy moldability. The constant flow of water doesn’t let the rust stick in due to the stainless quality of the sink.
The hotel sector consumes most of the commercial sink market as it demands different types of sinks including kitchen sinks and small-scaled restaurants. It holds a share of 37.4% of the global market. The hotels have multiple operation working that requires a huge number of these sinks as every sink from the global market . The hotels have multiple operation working that requires a huge number of these sinks as every sink is used in a different manner.
The United States of America holds the largest share of 32.6% in the global market attributed to the higher number of hotels and eateries. The penetration of automated technologies and smart kitchen ideas in the US have fueled the demand for these commercial sinks. The sinks are generally considered one of the important parts of the kitchen as it fastens up the cooking procedures.
While the United Kingdom is expected to register at a CAGR of 6.5% between 2023 and 2033. The increased number of small-scale eateries and restaurants has fueled the growth of the commercial sink market in the adoption of multi-purpose sinks with customization available, expanding the commercial sink market size.
India becomes the fastest-growing region in the global commercial sink market with an anticipated CAGR of 8.5% between 2023 and 2033. Nation building its healthcare systems and hospitals along with the rising number of hotels and restaurants due to the rising population and tourism has led India to become the fastest growing market in the Asia-Pacific
The UK is expected a healthy CAGR of 6.5% between 2023 and 2033. Setting up more restaurants offering food from every cuisine in the world. These places serve all kinds of international cuisines. As a result, having a commercial sink is essential for doing the dishes and saving effort.
Germany is anticipated to hold a share of 7.1% of the global market. This is attributed to its increasing hotel industry that demands the best kitchenware including multi-purpose sinks, making it one of the prominent markets in the European region. This ultimately fuels the sales of commercial sinks.
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Food enthusiasts around the world invest in creating a sustainable solution for hotel and restaurant workers to create a solution for a better dishwashing experience. The use of IoT in smart kitchen ideas is gaining traction in the start-up landscape of the commercial sink market.
The market includes both international and domestic participants. Key market players focus on strategies such as innovation and new product launches in retail to enhance their portfolios and positioning in the market.
Recent Market Developments:
Swanstone sink co. has come up with a long range of single and double bowl configurations, drop-in and undermount style sinks that fuels the sales of commercial sinks in the global market.
| Report Attributes | Details |
|---|---|
| Commercial Sink Market Size (2023) | USD 810 Million |
| Projected Market Value (2033) | USD 1409.3 Million |
| Global Market Growth Rate (2022 to 2032) | 6.3% CAGR |
| USA Market Share (2033) | USD 32.6% |
| UK Market CAGR (2022 to 2033) | 6.5% |
| Key Companies Profiled | Ruvati USA; Kohler Co.; Zuhne; Frigidaire; Swanstone; Acrysil Limited; AGA; Duravit AG; Dornbracht; Roca |
The global commercial sink market is valued at USD 810.2 Million in 2023.
Global demand for Commercial sinks is projected to reach USD 1409 Million by 2033.
The application of commercial sinks is expected to increase at a CAGR of 6.3% through 2032.
The United States of America market for a commercial sink is anticipated to hold a share of 32.6% by 2023.
1. Executive Summary | Commercial Sink Market 2. Market Overview 3. Key Market Trends 4. Key Success Factors 5. Global Market Demand Analysis 2018 to 2022 and Forecast, 2023 to 2033 6. Global Market - Pricing Analysis 7. Global Market Demand (in Value or Size in USD Million) Analysis 2018 to 2022 and Forecast, 2023 to 2033 8. Market Background 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material 9.1. Stainless Steel 9.2. Cast Iron 9.3. Composite 9.4. Granite/Quartz 9.5. Others 10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Sink Type 10.1. Top Mount 10.2. Under Mount 10.3. Wall Mount 10.4. Flush Mount 10.5. Others 11. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Bowl Type 11.1. Single 11.2. Double 11.3. Triple 12. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 12.1. Hotels 12.2. Restaurants 12.3. Hospitals 12.4. Others 13. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Region 13.1. North America 13.2. Latin America 13.3. Europe 13.4. East Asia 13.5. South Asia and Pacific 13.6. Middle East and Africa (MEA) 14. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 15. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 16. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033 17. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033 18. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033 19. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033 20. Country-Wise Market Analysis 21. Market Structure Analysis 22. Competition Analysis 22.1. Elkay Manufacturing Company 22.2. Franke Group 22.3. Kohler Co. 22.4. Blanco GmbH + Co Kg 22.5. Swan 22.6. Basterfield 22.7. Just Manufacturing 22.8. Limited 22.9. CAM Africa 22.10. Ruvati USA 22.11. Acrysil Ltd. 22.12. Houzer Inc. 22.13. MR Direct 22.14. Kraus USA 22.15. Tasman Sinkware Pty Ltd. 22.16. Roca Sanitario, S.A. 22.17. Stern-Williams Co. Inc. 22.18. Whitehaus Collection 23. Assumptions and Acronyms Used 24. Research Methodology
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Commercial Sink Market
