Australia, Sydney, Dec. 02, 2024 (GLOBE NEWSWIRE) — A commercial oven is a robust, quality item of equipment for the catering and restaurant trade, which is highly efficient at making the processes of cooking practical in a commercial kitchen. It employs a fan to create hot air circulation and also to remove hot or cold spots to provide you with even cooked meals. The restaurant ovens can handle, daily use, and they are quicker to heat up than the domestic ovens, and the temperature levels are higher as well. Some commercial oven varieties are the deck ovens, brick ovens, convection ovens and combination ovens.
Introspective Market Research is pleased to announce the publication of its latest report, Commercial Ovens Market. This in-depth analysis shows that the Global Commercial Ovens Market, valued at USD 11770.95 Million in 2023, is set for substantial growth and is projected to reach USD 23766.53 Million by 2032. This anticipated expansion reflects a strong compound annual growth rate (CAGR) of 8.12% from 2024 to 2032.
The Commercial oven market is one of the most important submarkets of the food service equipment market, sustained by the rising need for innovative and effective cooking devices in commercial kitchens. An increase in the popularity of eating out drives this growth, the increase in the number of food service outlets and ongoing innovations in oven technology, including energy efficiency, as well as smart control, and multifunctionality. These ovens are used in a wide range of applications in restaurants, bakeries, hotels, catering, institutional kitchens etc. The market provides different products kinds like convection ovens, combination ovens, deck ovens, and conveyor ovens, all of which are engineered to fulfill certain cooking purposes. Additionally, there is a growing acceptance of eco-friendly, fuel-efficient ovens, because food service operators want to decrease operating costs and meet strict energy standards. The evolution of artisanal breadmaking and fine dining has further driven the popularization of high-efficiency commercial ovens.
Asia-Pacific is an emerging market being built by urbanization, an expanding hospitality industry, and a shift in consumer trends towards high-quality meal offerings that are convenient. In the industry, manufacturers are spending more and more attention on innovating and tailoring products toward a broad range of end-user needs. IoT-integrated features and automation of ovens have been taking operational efficiency on an even higher level with accurate temperature control, remote checking, and predictive maintenance potential. With the increasing popularity of cloud kitchen, delivery service, etc, the use of miniaturized high-capacity ovens has also led to demand increases, which is a new chance for growth.
The commercial ovens market is poised for significant growth, driven by technological advancements, evolving consumer preferences, and the expanding global food service industry. These factors are transforming commercial cooking processes and driving the market’s expansion. Also, India’s food processing sector has emerged as a key contributor to the economy, with the sector growing at an average annual rate of 7.26% over the past seven years. The Ministry of Food Processing Industries (MoFPI) has implemented several schemes, such as the Pradhan Mantri Kisan Sampada Yojana (PMKSY) and the PM Formalisation of Micro Food Processing Enterprises (PMFME), to modernize infrastructure, reduce agricultural wastage, increase processing levels, and enhance exports of processed foods.
Furthermore, India has attracted significant foreign direct investment (FDI) in the food processing sector, with policies that allow 100% FDI and initiatives to boost infrastructure and rural economic growth. The country is a global leader in several agricultural categories, including milk, egg, and meat production, and is a major exporter of processed foods, which continues to fuel the sector’s expansion. The food processing industry in India is expected to continue its growth, with projections indicating that the sector will reach a market size of US$ 1,274 billion by 2027, up from US$ 866 billion in 2023, driven by rising population, urbanization, and changing consumer behavior.
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Key Industry Insights
Growing Demand for Convenience Food
The increasing need for convenience food is one of the main pushers of the global food market, changing the direction of consumer behavior and industry practices. With a modern-day fast-paced lifestyle, the consumerism mindset is changing towards convenience and hence are in a large quantity of demand for ready-to-eat items, frozen foods, bagged snacks and pre-cooked items. Urbanization, rising disposable income and growing employment of the women force are the triggers of this trend. For example, in metropolitan areas, more than 65% of households indicated that they buy convenience foods weekly for time reasons and convenience of cooking. Furthermore, the expansion of e-commerce venues e.g., Instacart, Amazon Fresh, Swiggy, has made highly diverse convenience foods readily available, thus fueling demand even more.
Health-minded consumers are also disrupting this segment, and manufacturers are beginning to provide, healthier alternatives, for example, non-fat frozen dinners, organic ready-to-heat meals and gluten-free snacks. For instance, Nestlé’s Healthy Choice line and Unilever’s Knorr ready meal kits have been extremely popular with health-conscious consumers.
Moreover, technological advancements in food processing and packaging ensure longer shelf life and enhanced flavor retention, appealing to modern consumers. Additional conveniences are provided by innovations like vacuum sealing and microwave-friendly packaging. Companies such as McCain Foods and Conagra Brands are using such technologies to become leaders in the field.
Convenience food is growing rapidly in emerging economies, especially in the Asia-Pacific region. In India and China, year-on-year packaged food sales by more than 9% are the result of changing eating patterns and work pressures. Generally, the increasing demand for convenience food is leading to a transformation of the global food system.
What are the Strategic Opportunities in the Commercial Ovens Market?
Rising Popularity of Smart Kitchens
The rising popularity of smart kitchens presents a significant opportunity in the commercial ovens market. As the foodservice industry increasingly adopts technology-driven solutions, the integration of the Internet of Things (IoT) and automation into commercial ovens is becoming a key factor in driving efficiency and precision in cooking. Smart ovens with features like remote monitoring, IoT connectivity, and AI capabilities enable operators to optimize cooking times, reduce human error, and ensure consistency in food quality. This is particularly crucial in fast-paced environments like quick-service restaurants (QSRs) and cloud kitchens, where maintaining speed and quality is essential.
For example, smart ovens can be programmed to adjust temperature and cooking times automatically based on the specific dish being prepared, which reduces the need for constant supervision and minimizes the risk of overcooking or undercooking. Furthermore, remote monitoring features allow kitchen managers to oversee operations and receive real-time alerts for maintenance needs, ensuring that ovens are always running at peak performance. This results in both cost savings and improved customer satisfaction.
The market for smart kitchens is growing rapidly. Commercial oven manufacturers that invest in digital technologies stand to benefit from this growth by meeting the rising demand for connected kitchen equipment. Companies like Rational, a leading manufacturer of combi ovens, are already incorporating smart technology in their products, offering cloud-based cooking analytics and remote diagnostics to improve operational efficiency for their clients. This trend is expected to accelerate as more food service businesses embrace digital solutions to stay competitive and meet consumer expectations for quick, consistent, and high-quality food.
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What are the challenges of the Commercial Ovens Market?
Maintenance and Repair Costs:
Maintenance and repair costs represent major hurdles in the commercial oven market particularly with increasingly sophisticated ovens with digital controls, features, and automation. Today’s oven units engineered to a high degree of user-friendliness along with intelligent heating systems, interior sensors, and AI-powered cooking control mechanisms are more susceptible to failure if not properly maintained. These sophisticated systems are supported by specialist maintenance technicians at a high cost for service calls when repairs are needed. Replacement parts (e.g., sensors, motors, and digital boards) are frequently pricier than components for conventional ovens.
Also, periodic calibration and software releases increase costs, in the direction of maintenance costs for high technology ovens that could vary from 10-15% of the original equipment price per year. This is especially the case for batch ovens, like those in restaurants and cloud kitchens. Maintenance problems may cause longer downtime, which can lead to interruptions in food production and lost revenue. In industries such as fast food restaurants, oven failures can lead to service stoppages and can lead to customer dissatisfaction. Extended warranties and service contracts give some relief, but adding to the expenses.
Spotlight on Market Leaders in the Commercial Ovens Industry
In the fast-evolving commercial ovens market, identifying the key players is crucial to understanding market dynamics and competitive positioning. These industry giants are the trendsetters and innovators, driving advancements and shaping the future of cooking technology. Their strategic moves offer invaluable insights into growth opportunities, helping businesses make informed decisions and stay ahead of the competition.
- Middleby Corporation (USA)
- Welbilt, Inc. (USA)
- Garland Group (USA)
- Blodgett Oven Company (USA)
- Whirlpool Corporation (USA)
- Rational (Germany)
- Convotherm (Germany)
- Wiesheu (Germany)
- MIWE (Germany)
- Panasonic Corporation (Japan)
- Haier Group Corporation (China), and other Major Players
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Key Segments of Market Report
By Product Type:
Convection ovens are poised to dominate the commercial ovens market, due to their unmatched versatility and efficiency. Perfect for restaurants, bakeries, and catering services, these ovens circulate hot air for faster cooking and consistent results, boosting productivity. Ideal for a range of cooking tasks—from baking to grilling—convection ovens meet the growing demand for quality and speed. With innovations like programmable controls and energy-saving features, they offer enhanced performance and align with sustainability goals, making them the go-to choice for food service businesses.
By End Users:
Bakeries captured the largest share of the commercial ovens market in 2023, holding 41.55%. As the backbone of the bakery industry, specialized ovens are crucial for creating a variety of baked goods, from bread to pastries and cakes. The growing demand for high-quality, artisanal products and the rise of bakery cafes and patisseries offering freshly baked treats have fueled this segment’s growth. With consumers craving premium, handcrafted baked goods, bakeries continue to invest in top-tier commercial ovens to meet these evolving tastes and expectations.
By Region:
Asia Pacific is poised to dominate the commercial ovens market, driven by rapid economic growth in China, India, and other developing nations. Rising disposable incomes, a booming food service industry, and shifting consumer preferences toward dining out and convenience foods are fueling demand for advanced ovens. Urbanization, government support, and a growing interest in smart, energy-efficient cooking solutions further propel this growth. With the region emerging as a key manufacturing hub, cost-effective, specialized ovens are meeting both local and international culinary needs, strengthening its market leadership.
Research Approach
This report offers a comprehensive analysis of the Commercial Ovens Market, within the context of the foodservice and commercial kitchen industries. The study integrates qualitative insights and key data, sourced from primary and secondary research methodologies, to provide a well-rounded understanding of the market. The evaluation focuses on current trends, segmentation analysis, competitive landscape, and key market dynamics such as drivers, restraints, opportunities, and challenges. The research also delves into technological innovations, product offerings by market leaders, and the strategies employed by key players. This approach ensures stakeholders gain critical insights necessary for informed decision-making in the evolving commercial ovens market.
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Research Scope & Assumptions
The research methodology for the Commercial Ovens Market combines both quantitative and qualitative approaches. The base year is 2023, with forecasts extending to 2032, presented in USD million. Quantitative methods, such as regression analysis, correlation analysis, and time-series analysis, are employed for accurate market estimation. Qualitative techniques capture industry dynamics, trends, and consumer preferences. The study segments the market by product type, application, and region, providing detailed insights into growth opportunities and challenges across various segments. This approach offers a comprehensive understanding for stakeholders to make informed decisions.
Expert Validation
To ensure data accuracy and relevance, the findings and forecasts are validated by industry experts, including those with technical expertise in commercial kitchen equipment, as well as market analysts. This validation process ensures the robustness and reliability of the market data and projections.
Market Engineering
The market engineering phase involves segmenting the data collected from primary and secondary sources to create a detailed market breakdown. This process uses macroeconomic indicators and applies both top-down and bottom-up approaches to ensure comprehensive data accuracy. Forecasting is conducted using data triangulation techniques, ensuring all estimates are robust and reliable.
- Data Analysis and Market Breakdown: The data is analyzed to segment the market by product type (e.g., convection ovens, combi ovens, conveyor ovens), application (e.g., restaurants, hotels, catering), and region (e.g., North America, Eastern Europe, Western Europe, Asia Pacific, MEA, South America). This includes analyzing historical market data, consumer behavior trends, technological innovations, and macroeconomic factors to predict future market performance.
COMPREHENSIVE OFFERINGS:
- Historical Market Size and Competitive Analysis (2017–2023): An in-depth assessment of market size and competitive dynamics over the past several years.
- Historical Pricing Trends and Regional Price Curve (2017–2023): Comprehensive analysis of historical pricing data and trends across various regions.
- Market Size, Share, and Forecast by Segment (2024–2032): Detailed projections and insights into market size, share, and anticipated growth by segment.
- Market Dynamics: Thorough analysis of growth drivers, restraints, opportunities, and key trends, emphasizing regional variations.
- Market Trend Analysis: Evaluation of emerging trends shaping the market landscape.
- Import and Export Analysis: Insight into trade patterns and their effects on market dynamics.
- Market Segmentation: Detailed analysis of market segments and sub-segments, with a thorough regional breakdown.
- Competitive Landscape: Strategic profiles of key players across regions, including competitive benchmarking for enhanced decision-making.
- PESTLE Analysis: Evaluation of the market through Political, Economic, Social, Technological, Legal, and Environmental factors to understand broader influences.
- PORTER’s Five Forces Analysis: Assessment of competitive forces shaping the market environment.
- Industry Value Chain Analysis: Examination of the value chain to identify key stages and contributors that drive the market.
- Legal and Regulatory Environment by Region: Insight into the legal landscape and its implications for business operations, highlighting compliance challenges and opportunities.
- Strategic Opportunities and SWOT Analysis: Identification of lucrative business opportunities, supported by a thorough SWOT analysis to gauge market positioning.
- Investment Pockets: Identification of key investment opportunities within the market, focusing on areas with significant growth potential.
- Conclusion and Strategic Recommendations: Final insights and actionable recommendations for stakeholders to enhance market strategies and capitalize on growth opportunities.
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Introspective Market Research is a leading global market research firm that harnesses big data and advanced analytics to deliver strategic insights and consulting solutions, enabling clients to effectively anticipate future market dynamics. Our expert team at IMR empowers businesses with a thorough understanding of historical and current market trends, providing a clear roadmap for future developments.
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The insights in our reports are derived from primary interviews with key executives from top companies across relevant sectors. Our comprehensive secondary data collection process incorporates extensive online and offline research, along with in-depth discussions with industry experts and analysts, ensuring our findings are both relevant and actionable.
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