2.19% CAGR in Commercial Convection Oven Market in Europe | Growth of European Foodservice Industry to Drive Growth | Technavio

Commercial convection ovens are the main cooking equipment in bakeries and pizzerias worldwide. Sales of these ovens are directly proportional to the rise in the number of foodservice establishments. Rapid urbanization across Europe and increasing disposable income have been the major factors driving the growth of the foodservice industry in Europe. The demand for FAFH, including meals and snacks supplied by commercial food service establishments, increased in 2020. The consumption of FAFH is very high in countries such as the UK and Germany. The increasing number of dual-income families, the increasing number of working women, the presence of more affordable and convenient fast-food outlets, and rising advertising and promotional activities by large foodservice chains are some of the major factors that are contributing to the trend of FAFH. Exposure to international cultures and lifestyles has resulted in the consumption of different cuisines. This, in turn, is creating growth opportunities for FAFH. The rise in FAFH consumption drives the growth of the foodservice industry and, in turn, the demand for commercial convection ovens in Europe.

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The size of the commercial convection oven market in Europe is expected to grow by USD 66.62 mn from 2020 to 2025. The year-over-year growth rate of the market in Europe is 1.65%.

Market Segment Highlights

• Based on product, the commercial convection oven market in Europe has been classified into two segments, namely electric and gas.
• The electric segment is expected to have significant market share growth during the forecast period.
• The high energy efficiency of electric convection ovens is a major factor that will drive the demand for commercial convection ovens in Europe.

Regional Analysis

• By geography, the commercial convection oven market in Europe has been classified into four segments, namely Germany, the UK, France, and Rest of Europe.
• 36% of the growth will originate from the UK during the forecast period.
• Market growth in the UK will be faster than the growth of the market in Germany, France, and Rest of Europe.
• The increasing investments by the QSR and fast-food segments is a major factor driving the growth of the foodservice industry in the UK, which will, in turn, drive the growth of the commercial convection oven market growth in the UK during the forecast period.

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Notes:

• The commercial convection oven market size in Europe is expected to accelerate at a CAGR of 2.19% during the forecast period.
• The market is fragmented due to the presence of many established vendors holding significant market share.
• The research report offers information on several market vendors, including Ali Group Srl, Alto-Shaam Inc., Bartscher GmbH, Duke Manufacturing, Electrolux Professional AB, Hobart Corp., Kolb Huizhou Ltd., Smeg Spa, The Middleby Corp., and UNOX Spa.

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