Restaurant Griddle Market

Restaurant Griddle Market (2023 to 2033)

The Restaurant Griddle Market is projected to have a CAGR of 6.9% by 2033. According to FMI, the market is expected to expand from USD 401 million in 2023 to USD 785 million by 2033. With a lower demand rate of 4.9% from 2018 to 2022, the market had a worth of USD 380 million in 2022.

The quick acceleration in the growth rate of the restaurant griddle market can be ascribed to the ease of lockdown and the full capacity of the restaurant operations. Given that natural gas or liquid propane are frequently used as a heat source in restaurants and are less expensive than electricity, the demand for restaurant griddle is on the rise.

The most popular type of griddle used in restaurants is a commercial gas griddle. Faster temperature recovery and the availability of restaurant griddles with improved features are a couple of the factors driving the restaurant griddle market expansion during the forecast period.

Restaurants prioritize investing in commercial kitchen equipment. The better profit margins with the most restaurant griddle market potential are the main focus.

• Commercial griddle may deliver even heating across the whole griddle plate surface, assisting in the preparation of consistently high-quality food products. Heavy-duty industrial griddles can be used to meet the needs of big food service enterprises. As a result, it is preferred by the restaurant griddle market players.
• Restaurant griddles' cooking surfaces are often made of cast iron or stainless steel, which has the ability to hold heat and reheat griddles quickly as needed.
• Industrial griddles with heat-setting control options assist cook food products at exact temperatures, reducing the risk of overcooking in commercial kitchens. Therefore, end users can improve production efficiency and boost earnings on food products due to the different advantages provided by restaurant griddles.

Energy-efficient Equipment Boot Up the Restaurant Griddle Market Opportunities

One of the key driving factors for the global restaurant griddle market is consumers' increasing desire for energy-efficient cooking appliances. Restaurant griddle with energy-efficient features is being introduced by manufacturers in response to the growing need for cooking equipment for commercial kitchens that function more efficiently in terms of energy use, capacity, and cost.

Demand for restaurant griddle is high, as they are used mostly in food service organizations due to increased production efficiency while having low operating expenses. The adoption of these goods would be further aided by the increase in demand for food products made with restaurant griddle, and the release of restaurant griddle with ENERGY STAR certification.

Restaurant griddle manufacturers employ a variety of techniques to meet the strict specifications of the ENERGY STAR criteria for griddles, including

• Use of highly conductive or reflective plate materials
• Enhanced thermostatic controls
• Strategically positioned thermocouples

Due to the availability of double-sided cooking choices, energy-efficient restaurant griddles cut cooking time by over 50% when compared to other regular types of restaurant griddles. Welbit subsidiary Garland Group has already introduced a double-sided griddle with cutting-edge temperature features.

Attributes	Details
Restaurant Griddle Market CAGR (2023 to 2033)	6.9%
Restaurant Griddle Market Size (2023)	USD 401 million
Restaurant Griddle Market Size (2033)	USD 785 million

How the Restaurant Griddle Market Reshape from 2018 to 2022 to 2023 to 2033

Sales revenue in the restaurant griddle industry expanded at a 4.9% CAGR from 2018 to 2022. According to FMI, by 2033, demand for restaurant griddle would rise by 6.9%. The approximate market growth is expected to be USD 384 million.

Weak same-store sales and traffic continue to be a problem for the restaurant business. In February 2018 and January 2018, the number of people walking decreased by 3.1% and 3.2%, respectively. The rising number of new restaurants, alongside constrained growth in dining-out budgets, is essentially one of the main causes of such a decline in same-store sales.

Although there are more restaurants than ever, which drives up the sales of restaurant griddle even more. This is demonstrated by the anticipated higher CAGR of 6.9% between 2023 and 2033 compared to historical growth.

Overview of Key Trends Shaping the Market 

Restaurant griddle with infrared burners is becoming more popular as consumer preferences for griddle change. Over the projection period, it is expected that the worldwide restaurant griddle market would be very consolidated. The firms that are active in the market are concentrating on technology, Research, and Development (R&D) department operations, and brand image.

Along with the lightweight, safe, and multipurpose usage, the manufacturers are also concentrating on differentiating their products based on price, quality, and regulatory compliance, which boosts the market for global restaurant griddle throughout the projection period.

Restaurant griddle with thermostat controls is highly preferred by customers, as they offer the functionality to regulate the temperature appropriately and let the user choose the perfect cooking temperature for a variety of food items based on their needs.

Category-wise Outlook

Why Does the Gas Griddle Dominate the Restaurant Griddle Market?

With a CAGR of 7.1% during the forecast period, the gas griddle dominates the restaurant griddle market.

For frying huge quantities of pancakes, eggs, burgers, and other foods, gas griddles are commonly used in restaurants, hotels, cafes, and other commercial locations. The market is expanding as a result of the growing demand from fast food restaurants to prepare quick meals for their staff.

Double Sided Griddle Leads the Demand for Restaurant Griddle, based on Product Type

Double-sided gliders dominate the restaurant griddle market, with a CAGR of 6.7% from 2023 to 2033 compared to a CAGR of 4.7% from 2018 to 2022.

Cooking time is reduced by half when an item is grilled on both sides. With this novel, streamlined process, restaurants may effectively double their yield capacity.

Although there isn't a foolproof quick method, the kitchen staff may simply produce greater batches of menu items effectively. The double-sided construction provides consistent temperatures that guarantee unmistakable product consistency.

Region-wise Outlook

Africa and the Middle East are likely to continue to have a steady growth. The Latin American market grows since there are more firms operating there. The key players in the restaurant griddle market are inclined to grow in Europe due to the region's advanced manufacturing and industrial sector. But poor demand in developed nations has caused the market in the region to grow slowly.

High-end Machines Creating Scope For USA Restaurant Griddle Market

Due to rising investments, particularly from the end-use industries, the USA restaurant griddle market is anticipated to reach USD 196.25 million, growing from 5.7% CAGR (2018 to 2022) to 7.4%. (2023 to 2033). This is attributable to the creation and production of sophisticated and high-end items and machines.

Is Asia Pacific Emerging as a Fastest Growing Market for Restaurant Griddle?

The Asia Pacific area benefits greatly from increased demand, as significant projects are currently underway in nations like China, India, Australia, and Indonesia. A major manufacturing hub has arisen in the Asia Pacific.
China is projected to have a CAGR of 8.5%, with a market size of USD 117.75 million. The region is continuing to benefit from a growing population, which is advantageous for the demand for restaurant griddle.

Significant Projects in Asia Pacific Restaurant Griddle Market

Country	Japan
Market Size	By 2033, Japan is projected to expand at a CAGR of 7.1%, with a market size of USD 49.45 million.
Projects	K2S, a Japanese firm, has the expertise and vision to assist in developing the ideal restaurant and is made within the customer’s budget due to the design and construction of more than 800 restaurants globally. They offer the 8200 BTU gas inlet rate, which provides strong heating that rapidly and efficiently cooks the meat. In comparison to other restaurants' griddle, it also reduces the time it takes for customers to return.

Country	Korea
Market Size	Previously, Korea's restaurant griddle market was growing at 5.4% CAGR. The market is expected to reach a valuation of USD 19.625 million by 2033, with a CAGR of 5.4%.
Projects	Samsung BBQ Grills offer the Ultimate Korean BBQ Grills. SamSung's KHood-100 BBQ hood is made specifically to remove all smoke and grease from the cooking pan. For a long lifespan, it is made of 304 stainless steel, which is rust-free.

Restaurant Griddle Market Initiatives:Recent Investments From Well-Known Brands In Startups

Businesses like Blackstone Products, Chipotle, and Yum Brands make significant investments in start-ups to identify technology solutions and establish a presence in the industry.

Established businesses are already funding startups, as ambitious expansion objectives are accelerated by investing in forward-thinking businesses that aim to bring about real change at scale.

The decision was made at a time when restaurant businesses are looking for tech solutions to cut down on their daily labor needs and boost operational efficiency more urgently than in past years due to increased demand and a challenging labor market. As a result, manufacturers find new opportunities in the restaurant griddle market.

• In order to go public, Blackstone Products is combining with a special-purpose acquisition firm, valuing the restaurant griddle manufacturer at about USD 780 million.
  • Blackstone, which was established in 2008, is the most recent business to announce a SPAC merger in an effort to generate money and spur expansion. These transactions have gained popularity as IPO alternatives, in part because they permit the firm going public to make business projections that aren't permitted in regular IPOs.
  • A SPAC is a shell business that generates capital and trades on the open market with the sole purpose of merging with a privately held corporation to go public. The private business replaces the SPAC in the stock market after submitting comprehensive financial documents to regulators and having the deal approved.
  • Given that more people are cooking at home as a result of the coronavirus epidemic, this deal continues a recent trend of investment activity for companies that provide outdoor cooking equipment.
  • In 2022, well-known grill manufacturers Weber Inc. and Traeger Inc., as well as Solo Brands Inc., owner of the well-known Solo Stove outdoor fire-pit brand, went public through conventional initial public offers.
  • Ackrell SPAC Partners I Co., a blank-check business with a consumer goods concentration, and Blackstone Products are merging.
• In April 2022, the fast-casual restaurant chain with headquarters in Newport Beach, California, and almost 3,000 locations across five nations, announced the creation of Cultivate Next, a venture capital fund.
  • In order to achieve Chipotle's objectives, the fund plans to invest USD 50 million in Series B stage businesses developing restaurant technology solutions or other goods and services.
  • Moreover, as part of the company's Series C funding round, the company announced in March 2021 that it had invested in the robotic delivery company Nuro.
  • At the time, Garner said that Chipotle's goal of expanding access and convenience was in line with the technology's potential to transform the traditional delivery model.
• In February 2022, Yum Brands, the parent company of KFC, Pizza Hut, Taco Bell, and The Habit Burger Grill, contributed to a USD 12 million fundraising round for the developer of Agot AI's computer vision restaurant management software.
  • Early tests of the technology suggest a promising potential to increase order accuracy and enhance the customer experience.

Synopsis of Competition Scenario of Restaurant Griddle Market

The dominant firms place a strong emphasis on product innovation as a consequence of new product development that assisted in gaining a larger restaurant griddle market share globally. Due to customers' rising preference for healthy food across most areas, the introduction of new products helps maintain consumer interest.

For instance, Weber-Stephen Products LLC introduced the flexible Q1400 in March 2018. The product can be used for roasting, convection cooking, baking, and grilling. TTK Prestige Ltd. unveiled a product with temperature control and non-stick heating plates in December 2016.

Key players

• Avantco Equipment
• Vulcan
• Volrath Co.
• Welbilt

Key Segments

By Type:

• Single Sided
• Double Sided

By Power Type:

• Gas Griddle
• Electric Griddle

By Sales Channel:

• Food Equipment Speciality Retailers
• Brand Franchised Stores
• Modern Trade
• ecommerce Platforms
• Others

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia and the Pacific
• Middle East & Africa

Frequently Asked Questions

What is the Growth Outlook of the Restaurant Griddle Market?

The restaurant griddle market is estimated to record a CAGR of 6.9% during the forecast period.

What is the Projected Value of the Restaurant Griddle Market By 2033?

The restaurant griddle market size is predicted to be valued at USD 785 million by 2033.

What is the Present Size of the Restaurant Griddle Market?

The restaurant griddle market share is valued at USD 401 million in 2023.

Which is the Leading Region in the Restaurant Griddle Market?

North America is expected to lead the restaurant griddle market with a share of 7.4% by 2033.

Which is the Leading Segment in the Restaurant Griddle Market, Based on Type?

Double sided segment dominates the restaurant griddle market with a CAGR of 6.7% by 2033.