Mc Donald’s, Dominos, Yum Brand, And Wendy’s Accounted For One-Third Of The Global Commercial Deep Fryer Sales
Arizton’s recent market research report on the global commercial deep fryer market provides comprehensive industry and competitive analysis and trend forecasts. The research study segments the market by product types (open pot, tube, and flat bottom), categories (gas, electric, and pressure), configurations (countertop, built-in, and floor-standing), end-users (QSR, main dining, retail, and others), and geography (North America, Europe, APAC, Latin America, and MEA).It also offers market share analysis in terms of volume (million units) during the forecast period.
The global commercial deep fryer market is likely to reach revenues of over $580 million, growing at a CAGR of over 5% during 2018−2024.
The rapidly growing number of restaurants, increasing tourism activities, the rising demand for fast foods, the rapid expansion of QSR chains, and the technological development of foodservice equipment are the major drivers for the global commercial deep fryer market. Mc Donald’s Corp, Dominos, Yum Brands Inc, and Wendy’s Company accounted for one-third of the global commercial fryer sales in 2018.
North America is the largest segment in the commercial deep fryers market, with major market share of over 50% in terms of revenue.
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This market research report includes a detailed segmentation of the market by product, category, configuration, end-user, and geography.
Gas fryer segment to dominate the global commercial deep fryer market during the forecast period
Gas powered deep fryers constitute the largest segment with a market share of around 60% in 2018.
Quick serving restaurant (QSR) chains such as, KFC, Burger King, McDonald's have a huge demand for commercial gas fryers, which, in turn, is driving the global deep fryer market.
Gas fryers use natural gas or liquid propane, which runs through oil or the heating element placed below the bottom of the oil tank. Gas deep fryers are energy-efficient and heat up more quickly. Gas fryers are more popular than other deep fryers and are used across commercial kitchens due to their high capacities. With the rising cost of natural fuels and the growing popularity of electric pressure fryers, the gas fryer segment is expected to lose its market share during the forecast period. The gas fryer segment is likely to have incremental growth during the forecast period. North America dominates the global QSR market and accounted for a market share of 55% of the gas fryer segment in 2018.
Main dining segment to grow at the fastest CAGR in the global deep fryer market
The main dining, which is also referred to as full-service restaurant (FSR), is an eatery or a food joint, where food and beverages are directly served on the consumer's table. The segment accounted for 10% of the global market revenue in 2018. The growing trend of eating out is driving the growth of the FSR industry, thereby driving the commercial deep fryer market.
The annual sale of FSRs in the US for 2017 increased by 3.5% compared to 2016.
North America and Europe accounted for the largest market share in 2018. The growth rate of QSRs is expected to be more incremental than the dining segment, which is likely to affect the growth of the global commercial deep fryer market in the main dining segment.
APAC is likely to grow at lucrative CAGR during the forecast period
The APAC foodservice industry accounts for approximately 40% of the global market. The growing disposable income in emerging countries such as China and India and the rapid adoption of western diets are fueling the deep fryer industry growth. The strong economic growth with rising disposable income, technological developments of foodservice equipment, expansion of commercial foodservice establishments, and improvements in the retail and hospitality industries are driving the demand for commercial deep fryers in the region. The expansion of western fast-food chains such as KFC, Burger King, and other QSRs in China has also influenced the growth of the food services equipment market. Expansions and renovations are likely to increase demand for cooking and food preparing equipment, which are expected to drive the growth of the commercial deep fryer market.
Electrolux, Middleby Corp., ITW, Welbilt, and Standex International are the major vendors in the global commercial deep fryer market.
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The complete overview of the latest market research report on the global commercial deep fryer 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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