The global market for combi ovens is set to grow over the forecast period with 10.6% CAGR. Increasing food industry and increasing penetration of microwave ovens all over the world are the major drivers for the growth of the market for combi ovens. In 2018, the global market for microwave ovens was estimated at around US$ 18.0 billion, growing at CAGR in the years to come by nearly 5%. Combi ovens are designed to cook with steam, convection and steam & convection combination; hence, they can be used for steaming, roasting, smoking, baking, braising, vacuuming, etc. The market demand is driven by wide application of combi ovens in restaurants, hotels, bakery and other locations. As a result of the above factors, we expect the global market for combi ovens to show significant growth over the forecast period.
In 2018, the market for combi ovens was led by the restaurants segment based on end-user. The restaurants segment contributes more than 30% of the same year’s market revenue share. Restaurants use these ovens because of their advantages (such as 40-50% faster cooking, higher yields, self-cleaning options, versatility, ease of use and others) over other ovens. Combi ovens provide an all-in-one solution for consistent and efficient food production, with increasing demand among restaurants. As a result, we expect to see significant growth in the restaurants’ segment during the 2019-2027 forecast period.
North America was the market leader followed by Europe and the Asia Pacific in 2018 based on geography. North America accounts for more than 30% of the revenue share in a similar year. Regional market development is due to advanced economies like the U.S. and Canada having popular restaurants, hotels and other locations where combi ovens are used. The U.S. alone has around 700,000 restaurants in 2018. As a result, we expect that the region referred to above will show significant growth during the forecast period 2019-2027. On the other hand, due to the region’s rising restaurant and food industry, Asia Pacific will be the fastest-growing region.
Major market players are developing new approaches to increase their market presence, such as product launch. Convotherm Elektrogerate GmbH, for example, launched mini black combi oven in September 2018. The above-mentioned combi oven is suitable for small areas of service such as gas stations, snack bars, coffee shops, and others. The mini black combi oven has various features with BakePro, automated cooking processes and others such as high-quality baking results.
Some of the major companies profiled in the report include Unox, Convotherm Elektrogerate GmbH, RATIONAL, Turbofan, Electrolux AB, Alto-Shaam, Inc., G.S. Blodgett Corporation, Robert Bosch GmbH, Falcon Foodservice Equipment, Black knight, Inc., Henny Penny, and others.