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According to the latest report by IMARC Group, titled "Commercial Kitchen Appliances Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global commercial kitchen appliances market reached a value of US$ 87.25 Billion in 2021. Commercial kitchen appliances are commonly used for cooking, cleaning and storing food items across food innovation centers and community kitchens. They include several types of equipment and tools that are generally operated via electricity, cooking fuel or solar energy. They are widely available in multiple shapes, colors and sizes and differ on the basis of their functionality, compactness, prices and features that assist in reducing the effort and time required to perform commercial kitchen-related activities. The demand for commercial kitchen appliances is gradually increasing due to the exponential growth in the number of foodservice establishments across the globe.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Commercial Kitchen Appliances Market Trends:
The global market is primarily driven by significant growth in the hospitality and tourism sectors. Since food service establishments are gaining popularity among consumers due to the shifting lifestyle preference and the changing dietary patterns, there has been a considerable rise in the demand for commercial kitchen appliances across the globe. Moreover, the increasing number of working professionals and the growing acceptance of western cuisines among the masses have provided an impetus to the market growth. Additionally, rising investments by leading players for launching energy-efficient commercial kitchen appliances and continual technological advancements in the food service industry, such as the integration of the Internet of Things (IoT) and robotics with food service platforms, are considered to be major growth-inducing factors. Other factors, including rapid urbanization, continuous product innovations, continuous improvements in the e-commerce infrastructure and extensive research and development (R&D) activities conducted by leading players, are also favorably impacting the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 129.04 Billion by 2027, exhibiting a CAGR of 6.50% during 2022-2027.
Market Summary:
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