Commercial Food Warming and Holding Equipment Market

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Commercial Food Warming and Holding Equipment Market (Product - Holding Equipment, and Warming Equipment; End User - Full Service Restaurants, Hotels, Railways, Hospitals, Supermarkets, Schools, and Quick Service Restaurants): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

  • Published : July, 2020

  • Rep Id : FB0281

  • Category : Food & Beverages

  • Status : Published

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.

 

Market Insight

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 market. 

 

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.

 

Segment Covered

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.

 

Companies Profiled:

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.

 

Report Highlights:

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.


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