The market for double stack ovens is anticipated to expand at a CAGR of 5% from 2023 to 2033. As of 2023, the market is estimated to be worth US$ 3665 million, and by 2033, it is anticipated to be worth US$ 5955 million.
The following are a few variables that could influence the market for double stack ovens:
Increasing available cash.
increasing the use of prepared food.
a rise in the usage of smart kitchen appliances.
Rapid urbanisation and the growth of the hospitality sector.
Energy-efficient double stack ovens are accessible.
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The market for double stack ovens has a glimpse of possibility thanks to North America’s booming luxury hotel industry.
According to figures provided by FMI, North America has the biggest market share among other areas for double stack ovens.
In North America, the market for luxury hotels is anticipated to expand at a CAGR of roughly 9.2% between 2023 and 2033.
Due to the versatility of double stack commercial ovens’ uses, luxury hotels have always been significant markets.
In addition, baked food items are frequently purchased as luxury goods. Due to their ability to simultaneously heat two or even more cakes, twin stacked convection ovens are very time-efficient. The market share of double stack ovens in North America is likely to rise as a result.
The twin stack ovens are used to heat a variety of foods in addition to baked goods.
Key Companies Profiled
- Vulcan
- GE Appliances
- Samsung
- Bosch
China’s swiftly growing use of smart kitchen appliances paves the way for the double stack oven market.
During the forecast period, the double stack oven market in China is anticipated to expand at a CAGR of 6.5%. As of 2023, the China market is valued at US$ 416.8 million, and by 2033, it is anticipated to reach US$ 893.25 million.
Market growth between 2017 and 2022 for double stack ovens in China was 4.6% historically. A rise from 4.6% to 6.5% demonstrates the potential of the Chinese market.
During the forecast period, the market for smart kitchen appliances is anticipated to expand at a CAGR of about 22.3%. A sizeable portion of the market for smart major kitchen equipment is made up by twin stack ovens. As a result, double stack oven sales are anticipated to soar in China.
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South Korea’s massive popcorn business is anticipated to offer opportunities for the double stack oven market.
During the forecast period, the double stack oven market in South Korea is anticipated to expand at a CAGR of 3.4%. In 2023, the South Korean double stack oven market is estimated to be worth US$ 42.59 million, and by 2033, it is anticipated to be worth US$ 148.875 million.
The market’s historical CAGR (2017–2022) was 3.9%.
As of 2022, the South Korean popcorn market is worth US$126.2 million. The two stack oven is used to make popcorn in multiplexes, restaurants, homes, and other establishments. These are used for many other things besides popping popcorn, like quickly heating food. food, sweet dishes, etc. This presents a huge opportunity for the South Korea double stack oven market.
Double Stack Oven Market Segmentation
By Power Type:
- Electric
- Liquid Propane
- Natural Gas
By Buyer Type:
- Commercial Buyers
- Household Buyers
By Sales Channel:
- Food Equipment Speciality Retailers
- Brand Franchised Stores
- Modern Trade
- E-commerce Platforms
- Others
By Region:
- North America
- Latin America
- Oceania
- Middle East and Africa
- Europe
- East Asia
- South Asia and ASEAN
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