Demand for Combi Ovens to Rise Rapidly from Foodservice Industry: Fact.MR Report
Published : 06 Dec 2021 Industry: Consumer Goods
According to a recent report by Fact.MR, a market research and competitive intelligence provider, the global combi ovens market is projected to surge at a CAGR of around 7.9% and top a valuation of around US$ 987 Mn by 2031.
Increasing adoption of combi ovens owing to their energy-efficient features is predicted to be one of the prime factors escalating market growth. Consumers across the globe seek new technologies that can ensure an easy way of life. Latest technologies are quickly adopted, with purchasing decisions influenced by social media. Also, the versatility offered by commercial combi ovens, a multipurpose food service equipment, is its main USP.
Demand for energy-efficient appliances has led manufacturers of combi ovens to introduce energy-efficient appliances. The market is fragmented owing to the presence of a large number of companies. Competition is escalating as consumers are becoming aware of various kinds of products and services in the market offered by different players. To compete against each other, manufacturers have been focusing on improving their medium-term product expansion strategy, merger plans, and product portfolio strategy with regional suppliers to expand their business.
Rising penetration of microwave ovens is also noted to be one of the important factors driving demand for combi ovens. Furthermore, increasing adoption of combi ovens at homes, offices, and other food places is another prominent factor contributing to the growth of the market.
Key Takeaways from Market Study
- Globally, the restaurant business and premium & luxury hotels are multiplying to meet rising demand, which is anticipated to boost market growth of combi ovens
- Among the product types, boiler-less combi ovens have been gaining traction, as they solve the issues of corrosion, maintenance costs, and increased downtime.
- North America is set to dominate market revenue, attributing to its well established restaurant and confectionery/bakery business.
- MEA & Latin America, due to their increase in the tourist business, have been flourishing in restaurants and hotels, which are expected to house combi ovens in a big way for cooking purposes, thereby driving regional market growth.
“Growing food industry and rise in premium restaurant and hotel businesses, along with adoption of energy-efficient appliances, are expected to boost sales of combi ovens over the coming years,” says a lead analyst at Fact.MR.
Who is Winning?
Food consumers value quality and service above all. As a result, market players are investing in the research & development of high-quality combi ovens. In addition to this, they are focusing on adopting cutting-edge technology that will enable them to maintain high-quality standards.
Some of the leading companies offering combi ovens are Blue Seal Ltd., UNOX, Turbofan, Electrolux Professional, Alto-Shamm, Inc, Convotherm, Vulcan Equipment, Henny Penny Corp., Falcon Foodservice Equipment, Lincat Catering Equipment, and Rational AG.
Get More Valuable Insights
Fact.MR, in its new offering, provides an unbiased analysis of the demand for combi ovens market presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031.
The study divulges compelling insights on the demand for combi ovens based on product type (combi ovens with boilers and boiler-less combi ovens), application (restaurants, bakery/confectionery, individuals, and others), and sales channel (offline and online), across seven major regions of the world (North America, Latin America, Europe, South Asia, East Asia, Oceania, and MEA).
About the Consumer Goods Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations – the consumer goods team at Fact.MR helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analysed the consumer goods industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
For more information, refer to our market research report or contact the PR author.
Shambhu Nath Jha
Sr. Consultant – Consumer Products