Commercial electric fryer: Key market research findings
- North America dominates the market geographically
- QSRs account for a majority of the market’s revenue
- Key vendors – Frymaster, Henny Penny, Imperial Commercial Cooking Equipment, Pitco, and Ultrafryer Systems
The market research analysts at Technavio predict the global market for commercial electric fryers to grow at a CAGR of around 4% between 2016 and 2020. The market’s growth is fueled by the increased focus on renovation in commercial kitchens. Several restaurant operators worldwide are investing in remodeling their kitchens to enhance the cooking process and ensure customer satisfaction. For instance, in July 2016, McDonald’s announced an investment of about $555 million to remodel its restaurants in Germany. In addition to enhancing the design for dining rooms and increasing the digital offerings, the company will also focus on updating the restaurant kitchens and ordering systems. During 2015, the global market was dominated by North America with a market share of more than 40%. Factors such as the presence of a well-established hospitality industry, coupled with quick adoption of technologically advanced commercial kitchen equipment and high consumer demand for deep fried foods in the region will propel the growth of the commercial electric fryer market in North America during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the commercial electric fryer segments based on the end-user.
“The growing awareness regarding the adverse effects of trans fats is prompting many foodservice operators to opt for alternative low or zero trans-fat cooking oils. These oils are considered comparatively healthier and have better nutrition value. Despite the high cost associated with high quality cooking oils, many foodservice establishments prefer to use these oils as they last longer and even produce fried foods that are healthier, and look and taste better,” says Brijesh Kumar Choubey, Lead Analyst, Consumer & Retail, Technavio Research.
During 2015, the QSR segment accounted for almost 55% of the overall market revenue to become the key revenue generating end-user vertical of the global market. The hectic lifestyles of consumers contribute significantly to the increase in demand for fast food and the resultant rise in the number of QSR establishments. The growing urbanization and increase in purchasing power of consumers in many Asian and Middle Eastern countries like China, India, the UAE, and Lebanon also creates massive growth opportunities for QSR vendors. The growing demand for food globally, spurred by the ever-increasing population, will augment the demand for commercial electric fryers in the QSR segment over the forecast period.
The key vendors in the global commercial electric fryer market include Frymaster, Henny Penny, Imperial Commercial Cooking Equipment, Pitco, and Ultrafryer Systems. Leading players in the market are trying to differentiate their product offerings based on key parameters such as efficiency, convenience, safety, and frying speed. Efficiency in the frying process is the main area of focus for manufacturers and is a major means to upgrade their offerings in the market. The market is highly capital intensive and hence, it is difficult for new players to enter the market. In order to sustain competition, vendors are also as electric fryers that feature advanced technologies.
A more detailed analysis is available in the Technavio report, Global Commercial Electric Fryer Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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