Global Smart Kitchen Appliances Market By Type (Smart Refrigerator, Smart Cookers, and Smart Hood), By Application (Commercial, and Household), By Region and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2019-2028

Smart Kitchen Appliances Market Overview

The market for Commercial Kitchen Appliances was valued at USD 89,186 million in 2021 and is forecast to grow at a 6.6% CAGR. This growth period will be between 2023-2032. This market will experience significant growth due to the growing popularity of Quick Service Restaurants (QSRs), and the expansion of the tourism and travel industry. The market for commercial kitchen equipment is also driven by the rising demand for fast food, increased commute times in metropolitan areas and cosmopolitan towns, as well as the rise in disposable income.

Global Commercial Kitchen Appliances Market Analysis

Product Analysis

The largest revenue share, at over 42% in 2021, was held by the refrigerator segment. It is expected that this segment will experience substantial growth over the forecast period.

End customers will be looking at refrigerators with the most advanced technologies to meet their growing food preservation needs. The demand for refrigerators will rise due to increased emphasis on advancements made in refrigeration technologies.

The increased demand for combination ovens, induction stovetops, and other cooking appliances will drive the segment’s growth to 7.1% during the forecast period. Induction cooking technology uses convection technology to evenly distribute heat for faster cooking. The rising fuel and electricity costs and awareness of the importance of conserving energy will drive increased demand for the induction range.

A combination oven, which is an oven built-in with a microwave function is expected to grow at 7.2% CAGR during the forecast period. These ovens can cook multiple foods in the same unit using convection, microwave, and combination mode. These commercial kitchen appliances offer many advantages, such as high humidity, multi-level cooking, and airflow control. A combination oven can increase production capacity which in turn results in higher profitability and efficiency for end-use businesses.

End-Use Analysis

Due to the rising trend of QSR outlets, both local and international, this segment will have a positive effect on the market’s growth over the forecast period. The expansion of regional QSR brands is expected with new casual dining outlets opening in new regions.

Both local and international fast-food chains are using technologically-updated kitchen appliances due to growing demand from the end-use industry for more efficient and innovative kitchen appliances. It is expected that there will be greater demand for digital appliances due to the increasing innovation required by QSRs in the equipment sector. A growing market for commercial kitchen appliances will result from QSRs focusing on innovation in menus, convenience, and pricing.

Over the forecast period, cruise, rail, and airways catering will grow at a rapid CAGR. A significant increase in tourism is expected to drive demand for commercial cooking appliances for catering on rail, airways, or cruises. A growing number of people are using the transportation system to transport goods and services, which is making it more difficult for existing infrastructures to keep up with demand. As countries such as India, China, and Japan increase the number of trains annually, the railway dining industry and associated kitchen appliance industries are expected to see significant growth.

Hospitals are expected to see significant growth in 2023-2032 due to the necessity to prepare meals in hospitals’ vicinity in order to meet their nutritional needs. Hospital sector participants are expected to reap lucrative opportunities from the commercial kitchen appliances market.

Key Market Segment

By Product

• Refrigerator
• Dishwasher
• Cooking Appliance
• Other Products

By End-Use

• Quick Service Restaurants (QSRs)
• Full-Service Restaurants (FSRs)
• Institutional Canteens
• Resorts & Hotels
• Other End-Uses

Market Dynamics

The shift toward healthy eating habits and a lower-calorie diet is expected to have positive effects on the demand for nutritious food chains, and the commercial kitchen equipment that goes with them. In addition, increasing consumer spending on tourism and the hospitality industry is driving restaurant owners to invest in their infrastructure and provide better services. Market growth will be aided by a growing demand for upgraded kitchen equipment in commercial spaces.

The demand for commercial kitchen appliances will rise due to the increasing use of smart equipment in the food service sector. This smart commercial equipment has advanced connectivity features. They are equipped with sensors that can connect to smartphones, tablets, and other household devices.

Commercial kitchen equipment with digital transformation technologies like the Internet of Things (IoT), and Artificial Intelligence, (AI) is increasingly preferred by end-use industries. This allows them to provide continuous operations for their customers. Elanor, an Indian commercial refrigerator manufacturer, introduced IoT-enabled connected refrigerators with intuitive temperature management features and alerts to the HoReCa sector.

The rise in awareness of commercial kitchen equipment as energy-efficient is expected to result in a significant increase in kitchen appliances for the commercial sector. Supportive government regulations for energy-efficient commercial equipment are expected to increase sales of commercial appliances and reduce energy consumption.

Regional Analysis

North America had a 33% revenue share in 2021, the highest. The industry is expected to grow due to the increasing number of restaurants and hotels in this region. This region is seeing a rise in the use of commercial kitchen appliances and the adoption of newer technology. A positive macro-economic environment in North America is driving demand for commercial kitchen appliances.

Asia Pacific’s quick-service restaurant market is expected to grow significantly as both international chains and local operators expand their business in the region. Foreign QSR chains are adapting to local tastes. Indian restaurants are adding multi-cuisine options to their food menus, including Indian, Mexican, and Continental cuisines. This is due to an increase in customers trying out new foods and developing a passion for different cuisines.

MEA is expected to experience the highest CAGR at 7.3% during the forecast. Fast-food chains in this area are incorporating a wide variety of international food items into their menus to cater to the increasing tourism. A variety of food options are being offered at cruise ships, canteens, and ferry terminals. This will increase demand for commercial kitchen appliances.

Key Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

Blodgett Corporation is also a key market participant. Players like these are focused on the development of advanced appliances in order to increase their market reach and expand their product portfolio. Blodgett Corporation’s freestanding ventless convection oven was launched in February 2020. It integrates with simple-to-use touchscreen controls. This oven can be used in hospital cafeterias, institutional and fast-casual restaurants as well as other food service facilities. This commercial kitchen equipment is part of the company’s strategy to increase its product line in the energy-efficient appliances segment.

Commercial kitchen equipment’s success is due to the fact that it considers other market players in household appliances and makes investments in related product categories. Whirlpool Corporation launched its commercial oven, dishwasher, and ice maker. This company is one of the most prominent in the household kitchen appliances industry. This foray into commercial sales will allow the company to grow its product range.

Many cooking appliance manufacturers are also focusing on strategic alliances and mergers and acquisitions to improve their competitive edge over their customers and increase their customer reach. Parts Town, a U.S.-based distributor for commercial foodservice equipment, purchased PartsXpress, which supplies foodservice and commercial appliances parts to Smart Care Equipment Solutions. Parts Town will be the sole supplier of OEM parts to Smart Care Equipment Solutions with this acquisition.

Маrkеt Кеу Рlауеrѕ:

• Bakers Pride
• S. Blodgett Corp.
• Vulcan LLC
• Whirlpool Corp.
• Bonnet International
• Garland Group
• Ali Group
• True Manufacturing
• Other Key Players

For the Smart Kitchen Appliances Market research study, the following years have been considered to estimate the market size: