The combi ovens marketplace remains consolidated among tier 1 players where top players in the combi ovens market accounts for over 63% of the total combi ovens market. Prominent players target commercial kitchens and institutions where demand for medium and heavy capacity combi ovens is increasing significantly. Presence of several small and medium sized players have increased the market competition in the combi ovens market where these players continue to introduce low cost combi ovens.
In a bid to maintain the combi ovens market sustainability amidst increasing competition, Tier 1 players are engaged in expanding manufacturing capacities and strengthening regional presence. For instance, Electrolux, in 2017, acquired Continental Brand in Latin America with an aim to strengthen Electrolux’s growth in the Latin America region.
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For instance, people in China and the U.S. majorly consume fried items, whereas people in Europe make bakery, fried, and roast as their preference. The growing demand for combi ovens has impelled manufacturers to approach the market in accordance to the strong demand for heavy and medium capacity combi ovens in order to serve hotels, institutions, and commercial kitchens. According to FMI, the global combi ovens market is anticipated to witness a CAGR of 10.3% over the course of the forecast period.
The growing demand from the foodservice industry and the need for more productive cooking methods are expected to be the core drivers for the global combi ovens market in the coming years. With the growth in economy and increment in the disposable income of people, people now endeavour to spend more on items that can fulfil their desires such as a luxury car, an apartment, or on the food and beverages they desire to eat or drink. Humans are inquisitive in nature, and have the tendency to explore new things and new varieties of food to taste, which has thus pushed culinary specialists or chefs to come up with new types of cooking methods. Combi oven is best for cooking meat owing to the reason that the heat in the chamber does the majority of the cooking and the moisture in the oven prevents the meat from drying out and also increases its consumable life. Combi ovens are a perfect alternative for cooks when they are in the need to serve food in quick service restaurants or serve bulk orders. In this way, combi ovens are in great demand in inns, hotels, restaurants, eateries, and at other food outlets. The development of the foodservice sector across the globe is expected to bode well for the progression of the global combi ovens market.
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Enhancement of Product Portfolio to be Core Strategy of Key Market Players
Key market participants are focusing on enhancement of their medium-term expansion strategy, product portfolio strategy, and mergers with regional distributors to expand their business. The players operating in the market are Alto-Shaam Inc., Electrolux AB, Fujimak Corporation, The Middleby Corporation, Retigo S.R.O, and Dover Corporation, among others.
For more detailed information and insights on the global combi ovens market, contact Future Market Insights analysts at [email protected]
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