The countertop convection oven market is expected to grow at a CAGR of 3.8% during the period 2023 to 2033. The market is valued at USD 403.6 million as of 2023, and by 2033, the market is expected to reach a valuation of USD 585.9 million.
Some of the drivers of the countertop convection oven market are:
North America: The largest smart kitchen appliances market which holds lots of opportunities for the countertop convection oven market
As per the analysis of FMI, North America is expected to be the largest countertop convection oven market. One of the major contributors happens to be the fact that North America is currently the largest market for smart kitchen equipment. Based on the estimates of FMI, the North American smart kitchen appliances market is currently progressing at a mammoth CAGR of 34.5%.
The countertop oven has a considerable share in the smart kitchen appliances market in North America. The continuous replacement of conventional appliances with modern appliances which are coupled with the latest technology represents a lot of scopes for the North American countertop convection oven market, and countertop convection ovens are believed to be one of the major kitchen appliances.
Asia Pacific: The fastest growing market for processed meat and is expected to hold a considerable countertop convection oven market share
Based on the research conducted by FMI, Asia Pacific is expected to be the fastest-growing countertop convection oven market. The region is the fastest-growing processed meat market as well. An increase in the per capita income, coupled with the emergence of the latest technologies for seamless meat processing is expected to surge the convection oven market during the forecast period.
The key players involved in the processed meat market are getting to understand the benefits of a countertop convection oven. Consequently, they have started adopting them in their outlets to serve the customers large quantities of food, and at the same time ensuring that the freshness factor is dwelled upon as well.
Europe: The fastest growing plant-based meat market, which has reserved a huge chunk of the market exclusively for countertop convection ovens
Europe is expected to be one of the most significant countertop convection oven markets during the forecast period.
Europe is also currently the fastest-growing plant-based meat market and is expected to be valued at close to USD 1247 million by 2032. The plant-based meat is much healthier as compared to traditional meat. Moreover, the restaurants that serve plant-based meat are also making use of countertop convection ovens as these assist in maintaining the quality of the plant-based meat, and also help in maintaining the temperature based on the chef's requirement.
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While the historical CAGR for the market was 2.5%, the anticipated CAGR for the forecast period was 3.8%. A jump from 2.5% to 3.8% clearly indicates that the market is expected to grow by a considerable level.
All this is mainly attributed to the growing global food market. Apart from that, certain sectors like the ready-to-eat food market, cloud kitchen market, red meat market, etc. are increasingly making use of countertop convection ovens to serve their customers better quality food. Moreover, the technological advancements that are taking place in the oven market as a whole are expected to increase the sales of countertop convection ovens.
| Attributes | Value |
|---|---|
| Countertop Convection Oven Market Value (2022) | USD 391.7 Million |
| Countertop Convection Oven Market Value (2023) | USD 403.6 Million |
| Countertop Convection Oven Market Forecast Value (2033) | USD 585.9 Million |
| Countertop Convection Oven Market Expected CAGR (2023 to 2033) | 3.8% |
Assisting in even cooking dishes
The adoption of a countertop convection oven ensures that the circulating air in the oven assists in heating the dishes evenly.
Compact and portable
The countertop convection ovens occupy less space as compared to other forms of ovens. Thanks to its compact, portable, and lightweight features businesses have started adopting countertop convection ovens.
Retention of juice within the meat
The best part associated with a countertop convection oven is that it provides the required heat to the exterior of the meat without affecting the interior juiciness of the meat. The hot air that is blown over the food helps shorten the cooking and waiting time.
Supports a variety of cooking
The countertop convection ovens are highly versatile. Apart from heating, they also assist in air frying, rotisserie, and dehydrating.
Energy efficient
Countertop convection ovens do not consume much energy as compared to other types of ovens. They are able to produce the same temperature as compared to conventional ovens at a relatively shorter period of time.
Principal Consultant
Expensive
The countertop convection oven is quite expensive compared to conventional ovens. Thus, small-scale businesses may not be able to procure many of these ovens.
Noise
When countertop convection ovens are put into operation, they produce a lot of noise. This can be disturbing for the surrounding.
The fan can blow around foil or parchment paper, thereby interfering with the food. This can potentially spoil the quality of the food.
Based on the countries analyzed, the USA has the highest market share of 21.9% in the countertop convection oven market.
The cloud kitchen has been growing at a huge pace in the USA and is currently valued at USD 12 billion in the USA alone. The cloud kitchen market has been making use of countertop convection ovens because of the versatility associated with them. The countertop convection oven assists the cloud kitchen in roasting, broiling, baking, etc.
Germany currently has 5% of the global countertop convection oven market share.
If we talk about Germany, the country has a huge quick-service restaurant market, which is valued at close to USD 22 billion as of 2022. As quick-service restaurants work on the principle of serving food in a very short time, the convection ovens assist in preparing food as soon as possible. Thus, investors from the quick-service restaurant market have started investing in countertop convection ovens.
Japan has a market share of around 4.5% in the global countertop convection oven market.
Japan is also considered to be one of the largest seafood markets. Japan's seafood market was valued at nearly USD 12 billion as of 2022, which is roughly 10% of the global market share. The seafood market has started making use of countertop convection ovens as these help in providing the right kind of heating as per the customer’s demand. Moreover, the option of preheating has been extremely advantageous, especially for the seafood market.
Australia has a 2.8% market share in the global countertop convection oven market.
The kangaroo meat market in Australia is valued at close to USD 200 million. The countertop convection ovens are gradually taking over the kangaroo meat market because these have the ability to offer consistent temperature throughout the oven cavity, which helps in drastically reducing the cooking and waiting times, and at the same time helps in retaining the meat juice. This is something that has completely blown away the investors in the kangaroo meat market.
China's countertop convection oven market is expected to grow at a CAGR of an above-average 8.3%.
The market is supported by a huge cultured meat market in China. The cultural meat market in China is valued at nearly USD 20 billion. Because of its ability to perform a number of cook functions, which include bread, cake, dehydrate, fry, wings, etc. the cultured meat market in China is making use of the countertop convection ovens owing to the multi-purpose functionality associated with it.
The India countertop convection oven market is expected to grow at a CAGR of 9.9% during the forecast period.
One of the major contributors to the convection oven market is the ready-to-eat food market in India. The ready-to-eat food market in India is valued at close to USD 2000 million as of 2021 and is expected to grow at a rapid pace.
The ready-to-eat food is generally heated in a countertop convection oven to retain the freshness of the food after heating. This might well increase the market share during the forecast period.
The UK countertop convection oven is expected to grow at a CAGR of 7% during the forecast period.
The frozen food market in the UK holds a massive valuation of USD 60 billion as of 2022. The frozen food is generally put inside a countertop convection oven for heating, and then consumed. The reason is that heating above a particular temperature is provided by these ovens, and at the same time, ensures that the quality is not compromised. This is expected to increase the demand for countertop convection ovens in the UK.
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Manual control has the highest market share of 67.4% in the type segment.
The digital segment has been quite recently introduced in the market and is gradually gaining traction in the market. Manual control has been a part of the market for a long time as a result of which the default option is the manual control segment.
But, with the technological advancements taking place at a rapid pace, the digital segment is expected to hold the majority of the market share by the end of the forecast period.
The retail sales segment has the highest market share 49.4% in the sales channel segment.
Being a high-involvement product, the customers would want to visit the retail sales market to get to understand the product instead of purchasing them through online mode. Apart from that, the availability of a lot of options in the retail sales channel gives the customer plenty of options to choose from.
The rapid technological advancements had led to a majority of start-ups who are working towards developing the most technologically advanced countertop convection ovens.
This comes at a time when key players are developing convection ovens that operate in digital mode, rather than manual operation.
Goji is an Israeli start-up. The start-up has developed an oven that promises the ability to perfectly cook food in a matter of minutes on one tray, which involves different components with different heating requirements. This is done by ensuring that the food is not deprived of nutrients and moisture.
The core technology of Goji comes from organ transplant research.
The start-up managed to raise USD 25 million in the series A funding, in a round which was led by New Enterprise Associates and Gandir Group.
With an increased focus on design, the key players have started investing heavily in the Research and Development of the business. Owing to increased customer awareness of how every aspect related to the design can impact the performance of the countertop convection oven, the researchers have started investing more in the Research and Development aspect of the business.
Some of the recent developments are:
Nutrichef Kitchen, Moffat, and MVP Group have almost entered into a no-turning-backward zone, and are all set to launch the best quality countertop convection ovens
Nutrichef Kitchen was founded on the principle that healthy home cooking should be available to all. The brand has been created out of a strong desire to provide an alternative to fast food convenience, and laying more emphasis on home-cooked meals. The company has always laid strong emphasis on simple pleasures, where family and friends come together to consume a healthy home-cooked meal.
The company has been mainly into providing air fryers, cookware and bakeware, barbeque, and grilling-based products, cooktops and griddles, food processors and blenders, and much more. The impressive portfolio of products maintained by Nutrichef kitchen is the key reason why customers keep returning back to Nutrichef Kitchen.
Moffat Limited specializes in the design of convection ovens and proofer holding cabinets. The ability to offer unique products with distinct features and a personal level of service to customers makes the company a flexible and responsive partner to work with.
Moffat, in the current times, operates in a majority of industry sectors with experience of over nine decades. The group mainly serves Australia’s and New Zealand’s bakery and catering equipment manufacturing brands.
Moffat was the first company in the Australasian region to produce large-scale rotating ovens for its local market and has gone on to revolutionize bread which was produced from tin containers for mass production introduction of retail bakeries, cafes, restaurants, etc.
MVP Group has been offering food service equipment for more than six decades. The company has always manufactured superior quality products and an unmatched service network infrastructure that offers 24/7 service.
The company recognizes the importance of after-sales service by establishing dedicated service agents throughout North America. The company aspires to be the market leader, and at the same time wants to establish the highest level of after-sales service.
The countertop convection oven market is valued at USD 403.6 Million as of 2023.
The countertop convection oven market is expected to grow at a CAGR of around 3.8% over the forecast period.
By 2033, the countertop convection oven market is expected to be valued at USD 585.9 million.
Some of the challenges are: high cost and noise while operating.
The main drivers are: compact and portable, and the ability to support variety of cooking style.
1. Executive Summary | Countertop Convection Oven 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 Type 9.1. Digital Control 9.2. Manual Control 10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Sales Channel 10.1. Retail Sales 10.2. Distributors 10.3. E-commerce 10.4. Others 11. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 11.1. Food Processing 11.2. HoReCa 11.3. Bakery 11.4. Household 11.5. Others 12. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Region 12.1. North America 12.2. Latin America 12.3. Europe 12.4. South Asia and Pacific 12.5. East Asia 12.6. Middle East and Africa (MEA) 13. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 14. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 15. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033 16. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033 17. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033 18. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033 19. Country-Wise Market Analysis 20. Market Structure Analysis 21. Competition Analysis 21.1. BLACK+DECKER 21.2. Moffat Limited 21.3. MVP Group Corp 21.4. Cuisinart Canada 21.5. NutriChef Kitchen, LLC 21.6. Mueller 21.7. SharkNinja Operating LLC 21.8. Hauswirt 21.9. Sunbeam Products, Inc. 21.10. Oster 21.11. Breville USA 21.12. Wolf Appliance, Inc. 21.13. Duke Manufacturing 21.14. BKI 21.15. Toastmaster 22. Assumptions and Acronyms Used 23. Research Methodology
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Countertop Convection Oven Market
