The restaurant griddle market size is expected to grow at a CAGR of 6.9% by 2033. According to FMI, the market is anticipated to grow from US$ 401 Mn in 2023 to US$ 785 Mn by 2033.
The rising need for energy-efficient cooking appliances by customers is one of the major factors propelling the worldwide restaurant griddle market. Manufacturers are introducing restaurant griddles with energy-saving features in response to the growing need for commercial kitchen cooking equipment that works more effectively in terms of energy usage, capacity, and cost.
Due to their enhanced production efficiency and cheap running costs, restaurant griddle demand is considerable. They are mostly utilized in food service enterprises. The increased demand for food items prepared using restaurant griddles and the introduction of restaurant griddles with ENERGY STAR certification would both help the adoption of these products.
To prepare consistently high-quality food items, a commercial griddle may give uniform heating over the whole griddle plate surface. Large food service businesses can employ heavy-duty industrial griddles to satisfy their demands. The participants in the restaurant griddle industry favor it as a consequence.
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Cast iron or stainless steel, which retain heat well and allow for rapid reheating, when necessary, are frequently used for restaurant griddles’ cooking surfaces.
In commercial kitchens, an industrial griddle with heat-setting control options helps prepare food products at precise temperatures while lowering the danger of overcooking. Therefore, thanks to the various benefits offered by restaurant griddles, end users may increase production efficiency and increase revenues on food items.
Key Takeaways from the Restaurant Griddle Market
- The gas griddle currently dominates the restaurant griddle market, with a CAGR of 7.1% throughout the projection period.
- With a CAGR of 6.7% from 2023 to 2033 compared to a CAGR of 4.7% from 2018 to 2022, double-sided gliders lead the restaurant griddle market.
- The Middle East and Africa are anticipated to continue to have consistent development. Since more businesses are working there, the Latin American market expands.
- The US restaurant griddle market is predicted to reach US$ 196.25 Mn, expanding from 5.7% CAGR (2018-2022) to 7.4%, due to rising investments, primarily from the end-use industries (2023-2033).
- China’s market is expected to grow at an 8.5% CAGR and reach US$117.75 Mn in value.
- Japan is anticipated to grow at a CAGR of 7.1% from 2017 to 2033, reaching a market value of US$ 49.45 Mn.
- Previously, the CAGR for the Korean restaurant griddle market was 5.4%. With a CAGR of 5.4%, the market is anticipated to reach a valuation of US$ 19.625 Mn by 2033.
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Who is Winning?
Established companies are already investing in startups because doing so helps them achieve their ambitious expansion goals faster by supporting companies with a forward-thinking mission to effect large-scale genuine change.
The launch of new products aids in maintaining consumer attention because consumers’ preferences for healthy food are growing across the majority of industries. As a result of new product development that helped them capture a greater proportion of the worldwide restaurant griddle market, the prominent enterprises pay a high focus on product innovation.
- The fast-casual restaurant brand announced the launch of Cultivate Next, a venture capital fund, in April 2022. The chain has approximately 3,000 outlets across five countries, with its corporate headquarters in Newport Beach, California.
- The parent company of KFC, Pizza Hut, Taco Bell, and The Habit Burger Grill, Yum Brands, participated in a $12 Mn financing round in February 2022 for Agot AI, the firm that created the computer vision restaurant management software.
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