Commercial cooking equipment market development and prospects – Lestov Manufacturer

Commercial cooking equipment is the core infrastructure of the catering industry, and its development level directly affects the efficiency, quality, and safety of the catering industry. In recent years, with the booming global catering industry and the continuous upgrading of consumer demand, the commercial cooking equipment market has also shown a booming trend.

This article will conduct an in-depth analysis of the commercial cooking equipment market from the aspects of market size, development trends, driving factors, challenges and opportunities, and look forward to its prospects.

1. Market size and growth

According to Grand View Research, the global commercial cooking equipment market was US$27.38 billion in 2021. It is expected to grow at a compound annual growth rate (CAGR) of 5.8% from 2022 to 2030, reaching US$45.86 billion by 2030.

In terms of regional markets, Asia Pacific is the world’s largest commercial cooking equipment market and is expected to continue leading in the next few years. This is mainly due to the region’s rapidly developing catering industry, the growing middle class population, and the government’s supportive policies for the development of the catering industry.

2. Development Trends

(1) Intelligence and Automation

With the rapid development of technologies such as artificial intelligence and the Internet of Things, commercial cooking equipment is moving towards intelligence and automation. Intelligent cooking equipment can automatically complete the cooking process according to preset programs, improving efficiency and consistency and reducing labor costs.

(2) Energy saving and environmental protection

Under the global trend of energy conservation and emission reduction, commercial cooking equipment also pays more attention to energy conservation and environmental protection. High-efficiency and energy-saving cooking equipment can not only reduce energy consumption but also carbon emissions, which is in line with the concept of sustainable development. With the increase of environmental awareness, energy-saving and environmentally friendly commercial cooking equipment is becoming increasingly popular in the market.

For example, new cooking equipment, such as induction cookers and induction heating equipment, has the advantages of high thermal efficiency and low energy consumption and is gradually replacing traditional gas equipment.

(3) Multifunctionality

Commercial cooking equipment is moving towards multifunctionality to meet catering companies’ diverse cooking needs. For example, one device can have multiple functions, such as frying, deep-frying, baking, and steaming simultaneously, improving equipment utilization and kitchen space utilization.

(4) Customization

With the intensification of competition in the catering industry, more catering companies have begun to focus on creating a personalized brand image. Commercial cooking equipment manufacturers have also begun to provide customized services, designing and producing equipment according to customers’ specific needs.

3. Driving factors

(1) Development of the catering industry

The rapid development of the global catering industry is the main driving force for the growth of the commercial cooking equipment market. As people’s living standards improve and consumption concepts change, the frequency of dining out continues to increase, the scale of the catering market continues to expand, and the demand for commercial cooking equipment has also increased.

(2) Food safety

Consumers’ requirements for food safety and quality continue to increase, prompting catering companies to upgrade kitchen equipment and adopt more advanced and safer cooking equipment to ensure food hygiene and quality.

(3) Rising labor costs

Rising labor costs have prompted catering companies to seek automated solutions to reduce labor costs and improve operational efficiency. The emergence of innovative cooking equipment can effectively solve this problem and is favored by catering companies.

(4) Application of emerging technologies

The application of emerging technologies such as artificial intelligence and the Internet of Things has brought new development opportunities to the commercial cooking equipment industry. Innovative cooking equipment can improve efficiency, reduce costs, and enhance user experience.

(5) Government policy support

Governments of various countries have introduced a series of supporting policies, such as tax incentives and subsidies, to promote the development of the catering industry. These policies have created a good policy environment for the development of the commercial cooking equipment market.

4. Challenges and Opportunities

(1) Challenges

Ø Fluctuation in raw material prices

Stainless steel, copper, aluminum, and other raw materials are the primary raw materials for commercial cooking equipment, and price fluctuations will significantly impact the cost of equipment.

Ø Fierce market competition

The commercial cooking equipment market is highly competitive, with many domestic and foreign companies. Price wars and homogeneous competition are common.

Ø Shortage of technical talents

The commercial cooking equipment industry requires many technical talents, but there is a shortage of relevant talents in the market, which restricts the industry’s development.

Ø High technical barriers

Commercial cooking equipment involves multiple fields, such as machinery, electronics, and thermal engineering. The technical barriers are high, and it is difficult for new entrants to master core technologies quickly.

Ø High requirements for after-sales service

Commercial cooking equipment is used frequently and is prone to failure, so it requires high-quality after-sales service.

(2) Opportunities

Ø The rise of emerging markets

The economies of emerging markets, such as the Asia-Pacific region and Latin America, are developing rapidly, and the catering industry has excellent market potential, providing a broad market space for commercial cooking equipment companies.

Ø New technologies bring new opportunities.

The application of new technologies, such as artificial intelligence and the Internet of Things, has brought new development opportunities to the commercial cooking equipment market. New models such as innovative cooking equipment and Internet + kitchen are constantly emerging.

Ø Expansion of online sales channels

With the rapid development of e-commerce, online sales channels have become an essential way for commercial cooking equipment companies to expand their markets.

Ø Potential of after-sales service market

The after-sales service market for commercial cooking equipment has great potential. By providing high-quality after-sales services, companies can improve customer satisfaction and loyalty.

5. prospects

In the future, with the continuous development of the global catering industry, the constant upgrading of consumer demand, and the constant application of emerging technologies, the commercial cooking equipment market will continue to maintain a steady growth trend.

Intelligence, automation, energy saving and environmental protection, multi-function, and customization will become the main trends in the development of commercial cooking equipment in the future. The following are some specific predictions:

(1) The market for intelligent cooking equipment will grow rapidly

It is estimated that by 2030, the market size of intelligent cooking equipment will exceed US$10 billion.

(2) Energy-saving and environmentally friendly equipment will become the mainstream of the market

With the increasingly stringent environmental protection policies, the market share of energy-saving and environmentally friendly commercial cooking equipment will continue to increase.

(3) Customized services will become the focus of competition

More and more commercial cooking equipment companies will provide customized services to meet the personalized needs of customers.

6. Conclusion

The market for commercial cooking equipment has broad prospects, but it also faces fierce competition and challenges. To remain invincible in this fierce competition, enterprises need to keep up with market trends, increase investment in technology research and development, and improve product quality and service levels.

At the same time, enterprises also need to pay attention to development opportunities in emerging markets, actively explore overseas markets, and achieve global development.

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