A recent report published by Infinium Global Research on
commercial food warming and holding equipment market provides an in-depth analysis
of segments and sub-segments in the global as well as regional commercial food
warming and holding equipment market. The study also highlights the impact of
drivers, restraints, and macro indicators on the global and regional commercial
food warming and holding equipment market over the short term as well as long
term. The report is a comprehensive presentation of trends, forecast, and dollar
values of global commercial food warming and holding equipment market.
According to the report, global commercial food warming and holding the equipment market is projected to grow at a CAGR of 3.8% over the forecast
period of 2020-2026.
Commercial food warming and holding equipments are designed
primarily to keep hot menu items at the right holding temperature and fresh
until serving time. These equipments hold hot food at ideal serving
temperatures throughout meal service by way of either moist or dry heating.
They find wide range of applications in a buffet or catering operation,
hospitals and quick service restaurants. The current concerns over the spread
of coronavirus are creating a decline in demand for commercial food warming and
holding equipments in the global market. The COVID-19 outbreak and the
containment measures introduced by the government have severely affected the
hospitality sector. A major decline in businesses will be witnessed and this is
likely to remain impacted for the next two years.
The virus has brought many uncertainties in many businesses such
as travel, hotels, and restaurants due to cancellation of hotel bookings,
reduced demand in restaurants and operating at half capacity. This COVID 19
impact on the hospitality sector has severely reduced the demand for commercial
food warming and holding equipment market. However, over the long term the
growth as vaccines emerge and as the economies recover from the impact of the
pandemic, food chains, and hospitality industry will witness a growth spurt,
providing favorable development opportunities for companies operating in commercial
food warming and holding equipment industry.
Rapid urbanization, rising disposable income of consumers and
expanding the hotel and restaurants sectors will drive the commercial food warming
and holding equipment market. Food-holdings equipment are the heaters and
control systems that provide reliable, repeatable, and finds usefulness
throughout the prep-to-delivery process. The benefits offered by food warming
and holding equipment such as food safety, efficient production, maintaining
high temperature uniformly and durability drive the demand for these
equipment in the food and beverage service industry. Growth in the number of quicks
service restaurants and technological advancements in food holding equipment
drives the demand for commercial food warming and holding equipment
Further, food service participants are focusing on serving fresh
food and also on increasing operational efficiency. They have been investing on
equipments that can be used to keep food fresh for a longer time along with
maintaining food quality, which in turn increases the demand for these commercial
food warming and holding equipment market. Furthermore, stringent regulation of
food service industry to maintain food safety and standards will fuel the
market growth. However, the high cost of equipments may hamper the demand and
restrain the market growth. Furthermore, key manufacturers are focusing on
technological innovation in the equipment and adopting technologies in the
business is expected to drive the market.
Geographically, North America held the largest share in commercial
food warming and holding equipments market in 2019. The US is a key revenue generator
in North America commercial food warming and holding equipments market. Factors
such as the presence of the large number of key players, stringency in government norms , and a high rate of adoption of energy-efficient products will increase demand for commercial
food warming and holding equipments market in this region. Further, Asia
Pacific will witness rapid growth in the forecast period owing to the increasing
purchasing power of consumer and the rapid growth of tourism and hospitality
sectors in emerging countries such as China, Malaysia, South Korea, and India.
The report on global commercial food warming and holding equipment
market covers segments such as product, and end user. On the basis of product,
the sub-markets include holding equipment, and warming equipment. On the basis
of end user, the sub-markets include full service restaurants, hotels,
railways, hospitals, supermarkets, schools, and quick service restaurants.
The report provides profiles of the companies in the market such
as Victor Manufacturing Ltd, Al-Halabi Refrigeration & Steel LLC, Fujimak
Corporation, Duke Manufacturing Co., Food Warming
Equipment Company, Inc., ITW Food Equipment Group, Hatco Corporation, Dover
Corporation, and Middleby Corporation.
The report provides deep insights into the demand forecasts,
market trends, and micro and macro indicators. In addition, this report
provides insights into the factors that are driving and restraining the growth
in this market. Moreover, The IGR-Growth Matrix analysis given in the report
brings an insight into the investment areas that existing or new market players
can consider. The report provides insights into the market using analytical
tools such as Porter's five forces analysis and DRO analysis of commercial food
warming and holding equipment market. Moreover, the study highlights current
market trends and provides forecast from 2020-2026. We also have highlighted
future trends in the market that will affect the demand during the forecast
period. Moreover, the competitive analysis given in each regional market brings
an insight into the market share of the leading players.