The global commercial convection oven market is projected to be valued at US$ 297.2 million by 2033, with the market growing at a slow CAGR of 3.3% from 2023 to 2033. Predicted to reach US$ 214.8 million in 2023, the market is shaped by escalating adoption of the product across households, bakery shops, and the food service sector. As an ideal kitchen appliance for heating and baking in private, as well as professional settings, commercial convection ovens, witness high demand from bakeries, restaurants, and multiple other sectors. This factor will drive the growth of the commercial convection oven market during the forecast period.
Unique oven systems that use fans to circulate hot air and cook food faster than traditional ovens are categorized as commercial convection ovens. With high-speed internal fans that actively circulate hot air, commercial convection ovens cook food from all sides. The oven significantly reduces cooking time and temperature which ensures energy efficiency. This attribute results in the commercial convection oven being referred to as the powerhouse of ovens. Commercial convection ovens are further equipped with the ability and power to manage large amounts of a wide variety of foods in the required time. This feature makes them a preferred choice across bakeries and restaurants.
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The food processing sector makes expansive use of convection ovens to roast or heat food. These ovens are manufactured with the objective of a greater cooking capacity which is enabled by their robust design and easy-to-use characteristics. The increasing preference for commercial convection ovens ver traditional ones due to energy-efficient properties and increased cooking capacity of convection ovens results in the global growth of the target market.
During the forecast period, the commercial convection ovens market will be assisted by the expanding bakery sector. The increasing consumption and production of baked goods such as cakes, pies, bread, and brownies across the world will augment the sales of commercial convection ovens. These ovens ensure an even browning and uniform cooking of large quantities and a wide range of food items. These factors make convection ovens an ideal fit for bakeries. Thus, the advancing bakery sector will propel the commercial convection oven market forward.
Key Takeaways:
- The use of baking substitutes and the high costs of commercial convection ovens will impede the growth of the market between 2023 and 2033.
- Introduction of advanced commercial convection ovens with compact and energy-efficient attributes will strengthen prospects for the market.
- Asia Pacific will emerge as the fastest-growing market for commercial convection ovens due to the rapid development of the bakery sector in the region.
- China’s commercial convection oven market will be driven by the continuous westernization of lifestyle and diets.
- The surging consumption of baked goods pushes the commercial convection oven market in the US to be valued at US$ 55.5 million.
- By application, the bakery segment will dominate the market owing to the popularity of the convection oven across the bakery industry.
- Based on the distribution channel, the online segment will register a strong growth rate between 2023 and 2033.
Competitive Landscape
among others are some of the key players in the commercial convection oven market profiled in the full version of the report.
Eminent market players are concentrating on investing more in technology and innovation to cater to consumer demands. These organizations also employ mergers, collaborations, acquisitions, and partnerships. The market participants are keen on strengthening distribution channels to gain a competitive edge.
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More Insights into Commercial Convection Oven Market
In its latest report, FMI offers an unbiased analysis of the global commercial convection oven market, providing historical data from 2018 to 2022 and forecast statistics for 2023 to 2033. To understand the global market potential, growth, and scope, the market is segmented on the basis of product type, application, distribution channel, and region.
According to the same reports, based on segmentation, the bakery application segment will generate high demand for the product owing to a marked preference for the same. In terms of distribution channels, the online segment will dominate the market as it offers greater convenience to consumers.
Based on region, the commercial convection ovens market in the Asia Pacific region will emerge as a lucrative one. The target market in this region will be deeply influenced by the expanding bakery sector, increased consumer spending on baked goods, and surging awareness about the benefits of using these ovens. The US and China are two countries that will make notable contributions to the growth of the commercial convection ovens market during the projection period.
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