Increasing M&A activities and growing demand from the emerging market are likely to drive the market
The commercial deep fryer market size to reach USD 583 million and 52 thousand units by 2024, growing at a CAGR of 6% during the forecast period. Commercial deep fryers are primarily used for preparing fried food items and are widely used in QSRs (quick service restaurants), retail, and other food establishment centers. Nowadays, commercial deep fryers are loaded with several advanced technological features such as advanced filtration systems, time buzzers, efficient energy-saving fryers, auto fry technology, and smart, deep fryers, which can significantly reduce the operating costs.
Vendors are joining hands with other industry players to develop efficient deep fryers. For instance, in August 2017, Middleby Corp. acquired QualServ Solutions, a global commercial kitchen design, manufacturing, engineering, and equipment solution provider. In October 2017, Middleby Corp. also acquired Globe Food Equipment Company to launch a quality product and make a wide geographical reach. Hence, the commercial deep fryer market is expected to grow rapidly due to owing to the rising demand from expanding food service industries in emerging markets of APAC, MEA, and Latin America and increasing M&A activities among leading vendors during the forecast period.
Frymaster, Vulcan, Pitco, and Dean are major vendors that Introduced built-in filtration commercial fryers
The commercial deep fryer market is undergoing several technological modulations. Major players are launching fryers with innovative features such as built-in filtration systems, AutoFry, and low oil usage. The built-in technology helps to keep the oil clean and maintain the consistency of the food. It can automatically filter the frying oil without any manual assistance. Frymaster, Vulcan, Pitco, and Dean are major vendors that introduced commercial fryers with built-in filtration technology. The introduction of AutoFry technology is another breakthrough in the commercial fryer market. It is one of the safest frying methodologies in which the food comes out from the chute once it is cooked. Such innovations are expected to drive the commercial fryer market in the coming years.
COMMERCIAL DEEP FRYER MARKET SEGMENTATION
This market research report includes a detailed segmentation of the market by
INSIGHTS BY PRODUCT TYPE
Affordability and hassle-free cleaning are key features contributing toward the popularity of open pot fryers
Tube fryers, open pot fryers, and flat bottom fryers are the three major variants in the commercial deep fryer market. The tube fryer segment has captured the most substantial portion of the commercial fryer market, growing at a CAGR of close to 6% during the forecast period. Tube fryers are generally used for heavy-duty usage and are mostly used in North America, followed by MEA and Latin America as they are expected to disrupt the dominance of western brands such as McDonald’s, KFC, and Subway.
Open pot fryers are another popular variant in the market. Affordability, hassle-free cleaning, and low oil dedicated to the cold zone are the key features contributing toward the popularity of open pot fryers. North America and APAC are expected to contribute the highest incremental growth across the three segments in the commercial deep fryer market during the forecast period.
INSIGHTS BY CATEGORY
High demand from food giants have driven the gas deep fryer segment
The commercial deep fryers market by category is segmented into gas, electric, and pressure fryers. Gas operated deep fryers account for the largest segment due to the high demand from food giants such as KFC, Burger King, and McDonald’s. Further, the rising number of QSR chains in emerging economies is expected to fuel the growth of commercial gas fryers during the forecast period.
Electric fryers are the fastest growing segment due to their low capacity which makes them ideal for low duty usages such as small snack shops. An electric fryer transfers the heat efficiently as the burner is submerged in the frying pot. Design and technological innovations, including fry pot insulation, low watt-density elements, and Triac controls are driving the commercial deep fryer market.
INSIGHTS BY CONFIGURATION
The presence of advanced features is boosting commercial deep fryer market growth
The commercial deep fryer market by configuration is divided into floor standing, built-in, and countertop. The floor standing commercial deep fryers segment dominated the deep fryer market as they are used across food service establishments. They are equipped with advanced technologies, including accelerated temperature recovery, automatic cooking functions, and advanced filtration systems. These advanced features are improving the efficiency of these fryers, thereby boosting the growth commercial deep fryer market.
Built-in fryers are suitable for permanent frying solutions and are generally installed in large kitchen spaces such as community centers, church kitchens, and other public spaces. They come with advanced features such as automatic shut off when overheated. Countertop deep fryers, on the other hand, are suitable for operating a small business as they are highly portable. The demand for commercial countertop fryers is expected to rise rapidly in APAC and MEA during the forecast period.
INSIGHTS BY END-USERS
Mainstreaming of in-store cafes and fast-food joints is increasing demand for commercial deep fryers
QSRs (Quick Service Restaurant), main dining, retail, and others are major end-users of the commercial deep fryer market. The QSR segment accounts for the largest share, especially in North America. QSRs prepare cooked food in bulk and need to be served quickly. Hence, deep fryers help to fasten the frying process.
The rising trend of eating out/fine dining is shaping the restaurant industry globally. It is expected that commercial deep fryer market for main dining establishments would grow at a CAGR of 7% by 2024. However, the market for restaurant fryers is expected to decline in North America with the decreasing growth of full-service restaurants.
As the presence of in-store cafes, fast food joints are becoming mainstream, the demand for commercial kitchen equipment, including commercial deep fryers, is also growing significantly.
INSIGHTS BY GEOGRAPHY
The US is the largest market due to high spending on fine dining
The global market by geography is categorized into Europe, North America, APAC, Latin America, and MEA. Expanding food service establishments, increasing spending on dining out, growing demand for fast food products, and expanding QSR chains have tremendously affected the commercial deep fryer market in North America. The US population spends almost 36% of consumer spending on food and beverages out of which more than 50% is spent on restaurants. Therefore, North America has contributed a major share toward the global commercial deep fryer market.
Moreover, the food service industry is rapidly developing across Europe, and it accounts for approximately 20% of the global food services market, which makes the region second largest. Thus, European market provides a high potential for growth of the commercial deep fryer market during the forecast period. Also, the increasing demand from developing regions such as APAC, Latin America, and MEA regions are primarily driving the growth of the global commercial deep fryers market.
INSIGHTS BY VENDORS
The global commercial deep fryer market is witnessing leading vendors working toward introducing new-age deep fryers, which are beneficial for small-scale as well as large-scale businesses. Booming QSR, food trucks and other food joints are increasing the sale of commercial deep fryers, especially in APAC and MEA. Key players are focusing on adopting new technologies to sustain competition in the global market.
The global commercial deep fryer market research report includes in-depth coverage of the industry analysis with revenue and forecast insights for the following segments:
Segmentation by Product
- Open pot
- Flat Bottom
- Main Dinning
- North America
- Latin America
- Middle East & Africa