DUBAI, United Arab Emirates, Dec. 30, 2022 (GLOBE NEWSWIRE) -- The global commercial oven for bakery market is projected to exhibit healthy CAGR of 4.7% during the forecast period. Presently, the valuation of commercial oven for bakery market is US$ 1,092 Mn in 2023. The value of the commercial oven for bakery market is anticipated to reach a high of US$ 1,635.5 Mn by the year 2033.
The rising consumption of bakery products due to their affordability and high nutrient value is propelling the demand for commercial ovens for baking purposes. This, in addition to the ease afforded by commercial ovens as they help prepare large volume of bakery products at once, is resulting in the rapid rate of adoption of commercial ovens.
Bakery products have been gaining huge popularity due to changing eating patterns of population as a result of busy lifestyle and increasing demand for western taste. Additionally, millennials are increasingly preferring bakery products, such as biscuits and breads owing to their convenient and affordable nature, thus boosting its sales.
The demand for bakery items is also positively influenced by the emerging trend of ‘click and collect’, wherein millennials order baked goods online. All these factors are facilitating the expansion of global commercial oven for bakery market size.
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The market is further invigorated by the rising number of working women, which is contributing to increased online orders and dine outs, thus creating considerable opportunities for market expansion of commercial ovens for bakery. With the growth of cafes and restaurants, that require product consistency and high throughput, the sales of commercial ovens are rising.
Furthermore, companies are manufacturing various types of commercial ovens in line with the evolving customer’s requirement, thus aiding the global commercial oven for bakery market.
Key Takeaways
- The U.S. commercial oven for bakery market is expected to register largest market share over the forecast period of 2023-2033, amounting to US$ 408.8 Mn in the year 2033. The market growth can be attributed to the surging population of working women, increasing consumption of Western food from food outlets, and rising recipe innovation, thus driving sales of baked goods.
- The fastest growth is estimated to be witnessed in the U.K. commercial oven for bakery market, which is anticipated to grow at a CAGR of 5.7% over the forecast period. The United Kingdom is predicted to be positively impacted by the surging expansion of commercial oven manufacturers, fluctuating eating patterns, and rising upgradation of commercial ovens to boost time and energy efficiency.
- The electrically operated category of commercial ovens is estimated to grow at a CAGR of 4.4% in the forecast period of 2023- 2033. The rising demand for electrically operated commercial oven for bakery can be attributed to its higher precision, even heating, greater efficiency, and excellent performance, which offers customer convenience.
- The commercial oven for bakery that uses continuous processing to bake food items is expected to grow rapidly at a CAGR of 3.8% during 2023-2033. The segment growth can be ascribed to various benefits of using these machines, including higher volume production, real-time process monitoring, and decreased processing and holding time.
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Competitive Landscape
The commercial oven for bakery market size is anticipated to observe healthy growth over the forecast period owing to completion of acquisitions, formation of partnerships, and product innovations. Following are the companies providing commercial oven for bakery, as identified by FMI:
- ASC Process Systems
- Davron Technologies
- Grieve Corporation
- Harper International
- JLS Ovens
- JPW Ovens
- Rowan Technologies
- Steelman
- Wisconsin Oven Corporation
- Other Prominent Players
Key Segments in the Commercial Oven for Bakery Market
By Operation Mode:
- Gas Operated
- Electrically Operated
By Installation Type:
- Free Standing
- Table Top
By Process:
- Batch
- Process
By Sales Channel:
- Offline
- Online
{Food Equipment Speciality Retailers, Brand Franchised Stores, Modern Trade, E-commerce Platforms, Others}
By Region:
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
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Table of Content
1. Market - Executive Summary
2. Market Overview
2.1. Market Definition and Introduction
2.2. Market Taxonomy/ Research Scope
3. Market Background and Foundation Data
3.1. Global FnB Processing Equipment Industry Outlook
3.2. Penetration of in Global Market
3.3. Comparison of Different Types in Commercial Oven for Bakery
3.4. Growth & Development Pattern in Market
3.5. Market Opportunity Assessment
3.5.1. Total Available Market (US$ Mn)
3.5.2. Serviceable Addressable Market (US$ Mn)
3.5.3. Serviceable Obtainable Market (US$ Mn)
3.6. Market White Space Assessment
3.7. Market Dynamics
3.7.1. Market Growth Drivers
3.7.2. Market Restraints
3.7.3. Market Opportunity
3.7.4. Market Trends
3.8. PESTLE Analysis
3.9. Porter`s Five Force Analysis
3.10. Investment Feasibility Analysis
3.11. Key Success Factors
3.12. Industry Value and Supply Chain Analysis
3.12.1. Value Added at Each Node of Supply Chain
3.12.2. Gross Profitability Margins (at Every Level)
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