The market for food storing and warming equipment is expected to be worth $4.9 billion in 2023. Between 2023 and 2033, the market for food storage and warming equipment is predicted to grow at a CAGR of 3.2%, reaching an estimated value of US$ 6.7 billion. This expansion can be ascribed to the increased attention to food quality and safety.
The integration of advanced technologies like IoT-enabled sensors and cloud-based monitoring systems is also expected to revolutionize the food holding and warming equipment market. The technologies enable better temperature control, food safety monitoring, and real-time data analysis, which helps to improve operational efficiency and reduce food waste. The technologies also provide valuable insights to food service providers, helping them optimize their operations and improve customer satisfaction.
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Smart food holding and warming equipment with features such as Wi-Fi connectivity and remote monitoring capabilities are gaining popularity among food service providers. The features enable businesses to monitor their equipment and food in real time, making it easier to maintain food safety and quality.
Key Takeaways:
- Global food holding and warming equipment market was valued at US$ 4.7 Billion by 2022 end.
- From 2018 to 2022, the market demand expanded at a CAGR of 2.1%.
- North America is expected to hold a dominant CAGR of 3.1% during the forecast period.
- By Category, the heated display cases segment is expected to constitute a CAGR of 3.1% in 2033.
- On the basis of Application, the restaurants segment is expected to dominate the market with a CAGR of 3.0% in 2033.
“The increasing demand for customizable equipment is a major factor that is expected to propel the growth of the Food Holding and Warming Equipment market in the near future,” – remarks an analyst at FMI.
Competitive Landscape:
Prominent players in the food holding and warming equipment market are Admiral Craft, Cambro Manufacturing, The Middleby Corporation, Hatco, Cres Cor, Raulsen, True Manufacturing, Turbo Air, Vollrath, Welbilt Inc., Vulcan, Winco, Alto-Shaam, Avantco Equipment, among others.
Recent Developments:
- In 2021, The Vollrath Company introduced a new line of sous vide immersion circulators, which are designed to precisely cook and hold food at a specific temperature.
- In 2021, Welbilt Inc. launched a new line of heated holding cabinets called the Garland HGD Series, which are designed for high-volume kitchens and can hold a variety of food items at different temperatures.
- In 2020, Hatco Corporation launched a new line of food holding cabinets called Intelligent Heated Display Cabinets, which are designed to maintain food temperature, quality, and presentation.
- In 2020, Alto-Shaam introduced new combi oven models featuring Halo Heat technology, which uses low-temperature radiant heat to gently cook and hold food.
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Key Segments Covered:
By Category:
- Heated Display Case
- Food Pan Warmer/Rethermalizer
- Heat Lamp/Cabinet
- Heated Holding Proofing Cabinet
- Heated Shelf Food Warmer
- Warming Drawer
By Installation Type:
- Undercounter
- Counter-Top
By Material Type:
- Acrylic
- Aluminium
- Stainless Steel
By Display Rack Type:
- Rotating Racks
- Shelves
By Application:
- Hotels
- Restaurants
- Cafes
- Bakeries
- Food Courts
- Others
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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