Growth of Food Industry Worldwide to Boost the Demand for Combi Ovens
The combi ovens market worldwide is likely to grow with a CAGR of 10.6% throughout the forecast period from 2023 to 2030. Continued growth in the food industry is the major driving factor for combi ovens market. Combi ovens are designed with all the three techniques (convection, steam, and both) in one machine for cooking. Growing penetration of microwave ovens is also one of the promising factors driving the combi ovens market. Penetration of combi ovens at homes, offices, petrol pumps and other food places is another prominent factor supporting the market growth. Therefore, we are expecting generous growth in the combi ovens market during the forecast period.
Individuals Segment to be the Fastest Growing
In 2021, the combi ovens market was led by the restaurants segment. Restaurant segment accounts for more than 30% of the market share in the same year. On the other side, we expect that the individual segment will be the fastest growing segment owing to growing penetration of these ovens at homes. Launch of mini combi ovens by various companies such as Convotherm Elektrogerate GmbH, Electrolux AB, and others is the major growth factor for the segment. Nowadays, individuals prefer combi ovens above steam and convection ovens due to their benefits such as baking, smoking, roasting and others. As a result, we expect that the individuals segment will be the fastest growing segment in the combi ovens market during the forecast period.
Asia Pacific to be the Fastest Growing Region
In 2021, North America was the largest contributor in the global combi ovens market followed by Europe and Asia Pacific respectively. North America contributes nearly 30% of the revenue share in the same year. The region has highest share due to developed economy and early adoption of latest technology. On the other flip, Asia Pacific will be the fastest growing region owing to developing economies such as China and India, growing disposable income and growing food industry in the region. Increased consumer inclination towards outside food in the region is the other major growth factor for the region. As a consequence, we expect that the Asia Pacific region will be the fastest-growing region during the forecast period.
Some of the prominent players operating in the combi ovens market include Unox, Convotherm Elektrogerate GmbH, RATIONAL, Turbofan, Electrolux AB, Alto-Shaam, Inc., G.S. Blodgett Corporation, Robert Bosch GmbH, Falcon Foodservice Equipment, Black knight, Inc., Henny Penny, and others.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Combi Ovens market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
ATTRIBUTE | DETAILS |
---|---|
Research Period | 2022-2032 |
Base Year | 2023 |
Forecast Period | 2024-2032 |
Historical Year | 2022 |
Unit | USD Million |
Segmentation | |
Power
| |
End-user
| |
Region Segment (2022-2032; US$ Million)
|
Key questions answered in this report