Research Analysis: Rising Demand for Ready-to-Eat Meals to Support the Growth of the 900 Series Cooking Equipment Market in Europe
900 series cooking equipment among quick service restaurants which in turn is driving the market growth
PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, OR 97220, USA, Feb. 3, 2022 /EINPresswire.com/ — Changing eating habits and hectic consumer lifestyles have led to an increase in demand for amenities and ready-to-eat meals. Rapid changes in supporting factors such as disposable income, consumer preferences, increasing population of working women and digitalization have led to an increase in the number of quick service restaurants, pop & shop and other types of restaurants . All these factors have increased the adoption of 900 series cooking equipment among quick service restaurants which in turn is driving the growth of the market.
According to a new report published by Allied Market Research, titled “Europe 900 Series Cooking Equipment Market by Product Type and End User: Regional Opportunity Analysis and Industry Forecast, 2018-2025”, the market size Europe 900 Series Cooking Equipment was $51.34 Million in 2017 and is projected to reach $59.15 Million by 2025, registering a CAGR of 1.7% from 2018 to 2025. In 2017, the Basic oven segment accounted for approximately 20.5% of the 900 series cooking equipment market and is expected to grow at the highest CAGR of 2.5%.
The 900 series cooking equipment is commercial cooking equipment that facilitates food preparation in addition to food safety in commercial kitchens. Products such as ambient worktops, base unit ovens, sauté pans, fryers, griddles and griddles are offered by leading companies, ensuring top quality and low maintenance cost . The Europe 900 series cooking equipment market is segmented on the basis of product type, end user and country.
Some of the Major Players Analyzed in Europe 900 Series Cooking Equipment Industry are:-
Base unit ovens
The development of the hospitality industry is expected to drive the growth of the 900 series cooking equipment market in Europe. Additionally, the increase in business travel, increase in urban population, and increase in the number of food establishments such as hotels and restaurants are fueling the growth of the hospitality industry, thus driving the growth of the Marlet. Furthermore, changing food consumption trends and the growing need to reduce food waste have led to the development of innovative kitchen equipment. These factors are expected to drive the market growth over the forecast period of the Europe 900 Series Cooking Equipment Market.
Continuous developments in the food industry and favorable government regulations to promote the production of environmentally friendly and advanced equipment are expected to open up new avenues for cooking equipment manufacturers. However, the volatility of raw material prices and the higher cost of installing equipment are expected to limit their adoption. A key market trend that is expected to gain traction in the European 900 series cooking equipment market is the growth in demand for certified equipment.
On the basis of product type, the Europe 900 series cooking equipment market is segmented into ambient countertops, base unit ovens, kettles, sauté pans, deep fryers, griddles, griddles, pasta cookers and others. Base unit ovens are expected to dominate the other highest revenue generating equipment in 2017. By end use, the market is categorized into full-service restaurants, institutional canteens, hotels and resorts, quick-service restaurants, and others. Full-service restaurants guarantee top-quality cuisine with a unique combination and full table service. Additionally, a high level of disposable income translates into eating out with entertainment options. These factors drive the growth of full-service restaurants and hence held the maximum share in 2017.
UK led the overall market in terms of revenue and is expected to maintain its dominance throughout the analysis period of the 900 Series Cooking Equipment market, growing at a CAGR of 2. 3%. This is attributed to high adoption of advanced technologies and increasing demand for ready-to-eat foods in the market. However, the German 900 series cooking equipment market is expected to grow at the highest CAGR of 2.0%.
Europe 900 Series Cooking Equipment Market Key Findings:
In 2017, the basic oven segment accounted for the largest 900 series cooking equipment market share in Europe, with a CAGR of 2.5% from 2018 to 2025.
By product type, 900 series pasta cookers and sauté pans are the two potential markets, which are expected to witness higher growth rates during the forecast period.
In 2017, full-service restaurants accounted for the highest market share and are expected to grow at a considerable CAGR of 1.2%.
The quick service restaurant segment is expected to grow at a significant CAGR of 3.6%.
In 2017, UK accounted for the highest market share and is expected to grow at a CAGR of 2.3%.
The UK and Germany collectively account for two-fifths of the European 900 series cooking equipment market in 2017.
• Detailed parent market overview
• Changing market dynamics in the industry
• In-depth market segmentation
• Historical, current and projected market size in terms of volume and value
• Recent industry trends and developments
• Competitive landscape
• Strategies of key players and products offered
• Potential and niche segments, promising growth geographies
• A neutral outlook on market performance
• Essential information for market participants to maintain and improve their presence in the market
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