Dublin, Oct. 25, 2023 (GLOBE NEWSWIRE) -- The "Global Convection Ovens Market (2023-2028) by Types, Applications, Power Sources, Distribution Channels, and Geography, Competitive Analysis, Impact of Covid-19, Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Convection Ovens Market is estimated to be USD 3.6 Bn in 2023 and is expected to reach USD 4.49 Bn by 2028, growing at a CAGR of 4.50%. 
A convection oven is an oven that has fans to circulate air around food to create an evenly heated environment. The increased air circulation causes a convection oven to cook food faster than a conventional non-fan oven, which relies only on radiation from the oven walls and heating elements. Convection ovens can be gas or electric and come in different models with various features.
The growing popularity of cooking shows and social media is expected to boost Global Convection Ovens Market. More people are becoming interested in home cooking, baking, and food preparation with the rise of cooking shows and social media platforms like Instagram, YouTube, and others.
The higher cost of convection ovens compared to traditional ovens is one of the main factors that limit the Global Convection Ovens Market growth. It generally uses more advanced technology, such as fans & multiple heating elements, to circulate hot air around the food, which results in faster, more even cooking. The advanced technology and additional components typically lead to a higher manufacturing cost for convection ovens.
Moreover, the manufacturers are developing advanced convection ovens with improved energy-saving features. These ovens may include programmable settings, timers, and sensors that optimize cooking processes and minimize energy wastage. For instance, in 2021, Middleby Corporation introduced a new line of high-speed ovens, including convection ovens, under its Viking Range brand.
The Global Convection Ovens Market is challenged due to using alternative products such as microwaves, slow cookers, electric pressure cookers, and air fryers. These all consume significantly less energy than ovens. Microwave ovens with convection features are often more compact and affordable and can perform multiple functions, including baking, grilling, and reheating.
This has led some consumers to opt for these hybrid appliances instead of standalone convection ovens. Additionally, the popularity of air fryers has grown significantly in recent years. Air fryers use convection technology to circulate hot air rapidly around the food, resulting in crispy and evenly cooked dishes.
Market Segmentation
The Global Convection Ovens Market is segmented based on Types, Applications, Power Sources, Distribution Channels, and Geography.
- By Type, the Global Convection Ovens Market is classified into Counter-Top Ovens, Single Deck, Double Deck, and Triple Deck. Counter-Top Ovens have the largest market share in the Global Convection Ovens Market. The Countertop ovens perform a wide range of cooking tasks, from baking & roasting to toasting & broiling, making them a versatile appliance for various households. These ovens are generally more affordable than larger convection ovens, making them an attractive option for budget-conscious consumers. There has been a growing demand for smaller appliances like countertop ovens that fit into smaller spaces. People are interested in appliances like countertop ovens that make cooking and baking more convenient.
- By Power Source, the Global Convection Ovens Market is classified into Electric, Liquid Propane, and Natural Gas. The Electric segment has the largest market share in the Global Convection Ovens Market. Electric convection ovens are widely used in both households and commercial settings due to their convenience, ease of use, and availability of power sources. Electric ovens are typically preferred in residential kitchens as they can be easily integrated into existing electrical systems without additional infrastructure. They are also considered safer and more energy-efficient compared to other power sources.
- By Applications, the Global Convection Ovens Market is classified into Household and Commercial. The Commercial segment has significant growth in the Global Convection Ovens Market. Commercial establishments, including restaurants, hotels, bakeries, and other food service businesses, require efficient and high-capacity baking equipment to meet customer demands. Convection ovens in the commercial sector offer faster cooking times, consistent heat distribution, and the ability to handle large volumes of food.
- By Distribution Channel, the Global Convection Ovens Market is classified into Online and Offline. Online has significant growth in the Global Convection Ovens Market. Online stores typically offer a greater variety and selection of convection ovens than physical stores, allowing consumers to easily compare products and find the one that best meets their needs. Online stores often offer competitive pricing for convection ovens, allowing consumers to find the best deal and save money. The stores are accessible from anywhere with an internet connection, making it easy for consumers to purchase convection ovens regardless of location. E-commerce has grown in popularity in recent years, with more and more consumers opting to shop online for various products, including household appliances like convection ovens.
- By Geography, the Global Convection Ovens Market is classified into the Americas, Europe, Middle-East & Africa, and Asia-Pacific. Americas has a large population of health-conscious consumers willing to invest in high-quality kitchen appliances. Additionally, consumers in this region have a high disposable income, making it easier for them to afford the relatively expensive convection oven. As a result, the region has a high demand for convection ovens.
Why buy this report?
- The report offers a comprehensive evaluation of the Global Convection Ovens Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
- The research report also provides a detailed market size analysis and projections in volume and value terms. The projections are calculated using verified research methodologies.
- Excel data sheet for the market size will also be provided with the report.
- The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
- The report includes an in-depth market analysis using Porter's 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
- The report includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
- The report includes Self-Assessment Form, which helps customers evaluate their position in the market compared to their competitors.
- The report offers customized research - tailored uniquely to our customers with a quick turnaround time. We offer a 15% customization option at no extra charge to all our clients for any of our syndicated reports.
Market Dynamics
Drivers
- Growing inclination toward energy-efficient convection ovens
- Increasing production and consumption of bakery products
- Rising popularity of cooking shows and social media
Restraints
- High cost of advanced convection ovens
Opportunities
- Rise in the consumption of frozen food items
- Need for the development of advanced convection ovens
Challenges
- Usage of alternative baking solutions
Companies Mentioned
- Amerex Instruments Inc
- Blodgett Oven Co.
- BSH Household Appliances
- Cadco, Ltd.
- Duke Manufacturing Co.
- Electrolux AB
- Garland Group
- Guangdong Galanz Enterprises Co., Ltd.
- Haier Group Corp.
- Hestan and Meyer Corp.
- LG Corp.
- Moffat Group
- Montague
- Omega Appliances
- Panasonic Corp.
- Robert Bosch GmbH
- Samsung Electronics Co., Ltd.
- Sharp Corp.
- Whirlpool Corp.
- WIGGENS GmbH
Report Highlights:
- A complete analysis of the market, including the parent industry
- Important market dynamics and trends
- Impact Analysis - a comprehensive assessment to confront risk and make strategic & operational decisions to counter the changes in the market environment.
- Market segmentation
- Competitive Analysis: Comparative analysis of competitor
- Historical, current, and projected size of the market based on value and volume
- Market size of the US states
- Market shares and strategies of key players
- Recommendations to companies for strengthening their foothold in the market
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 180 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $3.6 Billion |
| Forecasted Market Value (USD) by 2028 | $4.49 Billion |
| Compound Annual Growth Rate | 4.5% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/ev5vxb
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