Mounting Demand for Commercial Food Warming & Holding Equipment in Developing Regions

The success of a commercial kitchen depends on a range of factors of which, holding and warming food equipment are critical. Full service and quick service restaurants make use of commercial warming & holding equipment to keep food at the optimum serving temperature and retain its freshness. The restaurant sector has consistently expanded over the past couple of decades – opening up new avenues for participants in the commercial food warming & holding equipment market. Due to the expanding restaurant sector and the number of supermarkets and delis worldwide, the commercial food warming & holding equipment market is projected to witness considerable growth during the forecast period (2019-2027) and attain a value of ~US$ 7 Bn by the end of 2027. Some of the other factors that are expected to contribute toward this growth include growing evolving consumer lifestyle, ascending demand from developing economies, and rapid technological advancements.

Request a sample to get extensive insights into the Commercial Food Warming & Holding Equipment Market

Hot Handling Techniques to Prevent Bacterial Growth Create Substantial Demand for Warming Equipment

Various end users of commercial food warming & holding equipment are increasingly focusing on improving the safety of large quantities of cooked food. Warming equipment have emerged as one of the most effective solutions to ensure protection from harmful bacteria and pathogens. Pathogens are likely to multiply in numbers between 5 ºC and 63 ºC and thus, the demand for warming equipment is poised to grow at a consistent rate during the forecast period. The warming equipment product segment is projected to account for ~30% of the total food warming and holding equipment market share, in terms of value in 2019, lagging slightly behind the holding equipment product segment, which is likely to hold a share of 34%. The Food Safety Regulations 1995 and similar other regulations have been laid down to ensure safety of consumers. Food service participants are continually putting efforts to ensure that the cooked food is free from harmful bacteria and remains at the desired temperature level through the use of holding and warming equipment.

Technological Innovations and Launch of Novel Products in Commercial Food Warming & Holding Equipment Market

Hot holding equipment have garnered significant popularity over the past few years, owing to fluctuating consumer preferences. Although hot holding is not a new concept, advancements in temperature control and humidity precision have led to the development of improved holding equipment. Presently, the demand for convenience food is witnessing growth, which, in turn, has propelled the need for energy-efficient holding equipment. In addition, evolving consumer lifestyle patterns are driving innovations in the commercial food warming & holding equipment market. Players operating in the global commercial food warming & holding equipment market landscape are leveraging advancements in technology to launch new products and gain competitive advantage. For instance, in September 2018, Unox launched a new hot refrigerator that was specially designed to preserve dishes at the desired serving temperature for weeks. In their quest toward achieving resource and energy efficiency, several companies in the commercial food warming & holding equipment market are focusing on research and development activities.

To understand how our report can bring difference to your business strategy, Ask for a brochure

Stringent Regulations and Consumer Preferences Shape Greener Future

Over the past decade, improving energy efficiency across the global industrial sector has received immense importance. A similar trend can be observed within the global commercial food warming & holding equipment market wherein stringent regulations are shaping the course for a greener future. The U.S. Environmental Protection Agency (EPA) has defined the expected efficiency levels pertaining to hot food holding equipment on its ENERGY STAR website. Operators within the commercial food warming & holding equipment market that adhere to these requirements can display the ENERGY STAR label on their equipment. As per the insights on their website, by complying with these regulations, end users could potentially save as much as 30% on their electricity bills. Modern day consumers are highly in favor of energy-efficient warming and holding equipment, owing to the rising awareness related to green technologies. As consumer continue to adopt greener alternatives, old generation warming and holding equipment are likely to be replaced with newer products, especially in developing regions of South America and Asia Pacific.

Stuck in a neck-to-neck competition with other brands? Request a custom report on Commercial Food Warming & Holding Equipment Market 

Commercial Food Warming & Holding Equipment: Market Overview

  • The global commercial food warming & holding equipment market is expected to register a CAGR of ~4% from 2019 to 2027, in terms of volume. In terms of value, the global market is anticipated to expand at a CAGR of 4.5% during the forecast period. The commercial food warming & holding equipment market is projected to be driven by the growing demand for commercial food warming & holding equipment from the retail industry. Commercial food warming & holding equipment manufacturers are adopting advanced technologies to increase business. For instance, in May 2019, Merco, a Welbilt brand for commercial holding equipment, launched holding cabinets with the automatic tray tracking technology. This is expected to boost the commercial food warming & holding equipment market in the near future.
  • The global commercial food warming & holding equipment market is expected to reach ~US$ 20.2 Bn by 2027 from ~US$ 14.2 Bn in 2019. The total volume sales of the commercial food warming & holding equipment market is expected to reach 5,032 thousand units in 2019 and 7,312 thousand units by 2027, at a CAGR of 4.4% over the forecast period. Rise in urbanization and disposable income continues to drive the demand for commercial food warming & holding equipment from end users, thereby driving the commercial food warming & holding equipment market.
  • The commercial food warming & holding equipment market in North America is anticipated to expand at a rapid pace during the forecast period, followed by Europe
  • North America remains the leading market for commercial food warming & holding equipment, with revenues in 2019 estimated at ~US$ 6.1 Bn. Emergence of food halls in urban settings, and presence of a large number of manufacturers of commercial food warming & holding equipment are fueling the growth of the commercial food warming & holding equipment market in the region.
  • Asia Pacific is projected to lead the global commercial food warming & holding equipment market during the forecast period. This is primarily due to the rising per capita income, coupled with the growing emphasis on infrastructure development, which is resulting in the emergence of urban centers. This is expected to boost the growth of the food service outlets in the near future. As a result, the emergence of international food service chains, along with regional food service chains in countries such as India and that of ASEAN is expected to create significant demand for commercial food warming & holding equipment during the forecast period.

Commercial Food Warming & Holding Equipment Market – Definition

  • The commercial food warming & holding equipment market report provides analysis of the global commercial food warming & holding equipment market for the period of 2017 – 2027, wherein 2018 is the base year and 2019 to 2027 is the forecast period. Data for 2017 has been included as historical information.
  • In this report, we analyze the challenges end users face in acquiring the right food warming & holding equipment that can cope with the rapidly changing digital world. The report also highlights the total revenue generated through sales of commercial food warming & holding equipment and provides detailed insights about volume of these equipment across various key regions worldwide.

North America Commercial Food Warming & Holding Equipment Market – Regional Snapshot

  • North America is seen as the growth hub for new technology-driven enterprise business models, for its start-up ecosystem, and quick adoption of technology solutions by enterprises in the region. For the same reason, North America is expected to witness the highest opportunity addition for the commercial food warming & holding equipment market globally, followed by Asia Pacific.
  • North America is marked by the presence of leading companies, such as Middleby Corporation, Hatco Corporation, Welbilt Inc., etc.

Key Growth Drivers of Commercial Food Warming & Holding Equipment Market

  • Increasing Urbanization Rate and Consumer Expenditure: Over the past decade, urbanization across developing regions of Asia Pacific and South America has increased at a robust rate. The trend is especially prominent in developing regions that have witnessed rapid expansion and development of Tier 2 cities. This, along with rising disposable income of people in these regions, is increasing the overall consumer spending, especially on food, thus propelling the overall sales of the commercial food warming & holding equipment market.
  • According to the World Bank, ~55% of the world population resides in urban areas; this is expected to increase to 68% by 2050. Over 82% of the population in North America lives in urban areas, as of 2018.
  • Promotion of Green Manufacturing Equipment: Increasing awareness regarding green technologies among consumers is anticipated to lead to rapid replacement of traditional commercial food & and holding equipment with ENERGY STAR certified commercial food warming & holding equipment in the near future. This is expected to drive the commercial food warming & holding equipment market globally.

Key Challenges Faced by Commercial Food Warming & Holding Equipment Market Players

  • High cost of commercial food warming & holding equipment is a key challenge for food service operators or end users, as they account for a major share of the total capital cost incurred by new food service outlets
  • The global commercial food warming & holding equipment market is influenced by rising competition between local and international companies. The market in Asia Pacific, especially in China, is primarily influenced by local players. Food retailers in the region are more inclined toward deployment of locally manufactured holding and warming equipment, as these are cheaper than those offered by international manufacturers.
  • Most locally produced products do not comply with any standards. This factor is likely to hamper the global commercial food warming & holding equipment market during the forecast period.

Commercial Food Warming & Holding Equipment Market – Competitive Landscape

  • In May 2019, Delfield, a leading Welbilt brand in refrigeration, introduced a new series of blast chillers
  • In February 2019, Hatco Corporation introduced heated base glass shelves for food warming
  • In September 2018, Duke Manufacturing Co. Inc. entered into a partnership with Victor Manufacturing Ltd. for the distribution of hot-holding platforms in the U.K. market

Commercial Food Warming & Holding Equipment Market – Company Snapshot

  • Middleby Corporation: Incorporated in 1985, Middleby Corporation is based in Illinois, the United States. Middleby Corporation manufactures, designs, distributes, markets, and services a line of cooking equipment and related products, primarily in the U.S. The company has a presence in over 100 countries, through its own sales and marketing team and various local distributors, suppliers, and agents. The company operates through three main business segments: Commercial Foodservice Equipment Group, Food Processing Equipment Group, and Residential Kitchen Equipment Group.
  • Alto-Shaam Inc: Incorporated in 1955, Alto-Shaam Inc. is located in Wisconsin, the United States. Alto-Shaam, Inc. sells and manufactures equipment for healthcare facilities, schools, and restaurants. The company offers braising short ribs cook and hold ovens to prepare steaks, baking cheesecakes, and reheating convenience food items, smokers, proofing bread dough, etc. The company has operations in Canada, France, Mexico, Germany, Russia, China, and Dubai.
  • Other major players operating in the global commercial food warming & holding equipment market and profiled in the report include
    • Dover Corporation
    • Welbilt Inc.( Manitowoc Foodservice, Inc.)
    • Illinois Tool Works Inc.
    • Hatco Corporation
    • Victor Manufacturing Ltd.
    • Ali Group S.r.l.
    • MKN Maschinenfabrik Kurt Neubauer GmbH & Co KG
    • Al-Halabi Refrigeration & Steel LLC
    • Fujimak Corporation
    • Duke Manufacturing.
  • Companies are shifting toward advanced equipment, and integrating new technology to enhance warming & holding capacity to gain a competitive advantage in the commercial food warming & holding equipment market apart from maintaining their position in the market.

Read Our Latest Press Release:

https://www.prnewswire.com/news-releases/covid-19-vaccine-storage-to-increase-growth-rate-of-pharmaceutical-glass-ampoules-market-between-2019-and-2027-tmr-301222233.html

https://www.prnewswire.com/news-releases/integration-of-smart-features-stirs-growth-in-camera-bag-market-tmr-301221354.html

About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through ad-hoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

Contact

Transparency Market Research State Tower,

90 State Street,

Suite 700,

Albany NY – 12207

United States

USA – Canada Toll Free: 866-552-3453

Email: sales@transparencymarketresearch.com

Website: https://www.transparencymarketresearch.com

LEAVE A REPLY

Please enter your comment!
Please enter your name here