Global Combi Ovens Market Is Poised To Grow At A CAGR Of 7.8% Over Next Ten Year
According to a recent report by Fact.MR, a market research and competitive intelligence provider, the global combi ovens market is projected to surge at a CAGR of around 7.9% and top a valuation of around US$ 987 Mn by 2031.
Increasing adoption of combi ovens owing to their energy-efficient features is predicted to be one of the prime factors escalating market growth. Consumers across the globe seek new technologies that can ensure an easy way of life. Latest technologies are quickly adopted, with purchasing decisions influenced by social media. Also, the versatility offered by commercial combi ovens, a multipurpose food service equipment, is its main USP.
Demand for energy-efficient appliances has led manufacturers of combi ovens to introduce energy-efficient appliances. The market is fragmented owing to the presence of a large number of companies. Competition is escalating as consumers are becoming aware of various kinds of products and services in the market offered by different players. To compete against each other, manufacturers have been focusing on improving their medium-term product expansion strategy, merger plans, and product portfolio strategy with regional suppliers to expand their business.
Rising penetration of microwave ovens is also noted to be one of the important factors driving demand for combi ovens. Furthermore, increasing adoption of combi ovens at homes, offices, and other food places is another prominent factor contributing to the growth of the market.
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Key Takeaways from Market Study
- Globally, the restaurant business and premium & luxury hotels are multiplying to meet rising demand, which is anticipated to boost market growth of combi ovens
- Among the product types, boiler-less combi ovens have been gaining traction, as they solve the issues of corrosion, maintenance costs, and increased downtime.
- North America is set to dominate market revenue, attributing to its well established restaurant and confectionery/bakery business.
- MEA & Latin America, due to their increase in the tourist business, have been flourishing in restaurants and hotels, which are expected to house combi ovens in a big way for cooking purposes, thereby driving regional market growth.
“Growing food industry and rise in premium restaurant and hotel businesses, along with adoption of energy-efficient appliances, are expected to boost sales of combi ovens over the coming years,” says a lead analyst at Fact.MR.
Key Segments of Combi Ovens Industry Research
Combi Ovens Market by Product Type
- Combi Ovens with Boilers
- Boiler-less Combi Ovens
Combi Ovens Market by Application
- Combi Ovens for Restaurants
- Combi Ovens for Bakery/Confectionery
- Combi Ovens for Individuals
Combi Ovens Market by Sales Channel
- Offline Channels
- Independent Stores
- Retail Stores
- Other Sales Channels
- Online Channels
- Brand/Company Websites
- e-Commerce Platforms
- Offline Channels
Combi Ovens Market by Region
- North America Combi Ovens Market
- Latin America Combi Ovens Market
- Europe Combi Ovens Market
- South Asia Combi Ovens Market
- East Asia Combi Ovens Market
- Oceania Combi Ovens Market
- Middle East Africa Combi Ovens Market
Key players in the combi ovens market have adopted various marketing strategies such as mergers & acquisitions, expansions, product launches, and innovation. Alongside, they are focusing on strengthening their retail and distribution channels.
- For instance, in August 2020, RATIONAL announced the launch of iCombi Pro in the United States. These next-gen combi ovens are now available at RATIONAL dealers across the country.
- Alto-Shaam Inc. expanded its Vector Series Multi-Cook Oven Line with F Series full-size electric models. These new combi oven models are designed to fit full-size pans and allow operators to combine oven chambers to accommodate taller food items.