Growing Fast Food Consumption Boosting Deep Fryers Market
Arizton’s recent market research report on the commercial deep fryers market identifies Electrolux, Middleby Corp., ITW, Welbilt, and Standex International as the major player in the global commercial deep fryers market. The research report provides comprehensive industry and competitive analyses and trend forecasts. The research study segments the market by product types (open pot, tube, and flat bottom), configuration (countertop, built-in, and floor-standing), category (gas, electric, and pressure), end-users (QSR, main dining, retail, and others), and geography (North America, Europe, APAC, Latin America, and MEA). This market research report offers market share analysis in terms of volume (million units) during the forecast period.
The commercial deep fryers market is likely to reach revenues of over $580 million, growing at a CAGR of over 5% during 2018−2014.
The global foodservice industry has been growing rapidly over the last decade, and this growth is expected to continue during the forecast period. An increasing consumer spending on food services is expected to influence the global food and beverage market. Therefore, a high number of commercial food service centers are mushrooming across the world, which is leading the demand for commercial kitchen equipment. Commercial kitchen equipment is used to cook, clean, and store a large number of food items. This equipment is designed for heavy-duty usage and can withstand excessive load.
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Most commercial food service establishments prefer kitchen appliances with high-energy efficiency and environment-friendly features, which significantly reduce the operational cost. Manufacturers are increasingly focusing on customized, connected appliances, which meet standard consumer choices and preferences. Further, as commercial businesses are highly focused on the safety of workers, they procure appliances and kitchenware, which comply with prescribed safety and regulatory standard.
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The top three drivers and trends propelling the commercial deep fryers market are discussed below:
Growth of Fast Food Consumption
Fastfood constitutes a major part of Western food consumption. The fast-food industry in the US is expected to exceed $220 billion by 2020 due to the high demand for fast foods among the native population. Developing countries are witnessing an increase in disposable income in the middle-class population; hence, the demand for fast foods in this region has recently been rising.
Yum! Brands, the parent company of fast food chains such as Pizza Hut, Taco Bell, and KFC, generates approximately 50% of its revenue from developing markets.
With the high penetration of Western brands in emerging countries, the rate of fast food consumption is also rising rapidly, thereby boosting the overall growth of the global fast food industry. The rising fast-food consumption is also driving the demand for cooking equipment such as commercial fryers.
Availability of Energy-efficient Commercial Fryers
Stringent government regulations are boosting the demand for energy-efficient commercial fryers. FEMP laws and regulations mandate agencies to purchase commercial fryers that are Energy Star-qualified (government-backed symbol for energy efficiency) or FEMP-designated products. Energy-efficient fryers have high production rates and are cost-efficient with short recovery cycles. Manufacturers’ compliance with energy-efficiency specifications is likely to improve the sale of their products.
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Expanding Quick Serving Restaurant(QSR) Chains
Commercial deep fryers are used across food service establishments from quick service restaurants to fine dining services. The global QSR industry is expected to grow at a CAGR of over 4.5% during the forecast period. The rising fast-food consumption, dual incomes, on-the-go inexpensive foods, and busy lifestyle are driving the growth of the QSR industry. North America was the largest QSR market with a global share of over 40% in 2018, followed by Europe. In India and China, the global QSR chains such as McDonald’s, KFC, and Dominos are experiencing strong growth. KFC India posted a growth of 20% in 2018, and Pizza Hut witnessed a growth of 19% for the same period. Fast-growing QSR chains and the rising fried food demand across the world are expected to drive the demand for deep fryers in the global market.
Other prominent vendors in the commercial deep fryers market are Admiral Craft, American Range, Avantco, Centaur, Comstock- Castle, Crown Verity, Eurodib, Falcon Foodservice Equipment, Giles FoodService Equipment, Gold Medal, Grindmaster-cecilware, Henny Penny, Imperial Commercial Cooking Equipment, MVP Group, Shanghai YixI Food Machinery Co. Ltd., Star Manufacturing, Vollrath, Waring, Winco, and Winston Foodservice.
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The complete overview of the latest market research report on the global commercial deep fryers market by Arizton is now available.
The report offers a detailed study of major trends, drivers, challenges and provides market sizing and forecast for major geographical regions and key countries.
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