According to a new report published by Allied Market Research, titled, “France Cooking Equipment Market by Size of Equipment, End User, and Tier Type: Opportunity Analysis and Industry Forecast, 2018 – 2025,”. The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape.
The France cooking equipment market size is expected to generate revenue worth $60.7 million in 2018 and is projected to reach $70.4 million by 2025, to register a CAGR of 2.1% during the forecast period. Cooking equipment is popularly used in restaurants, hotels, and fast-food centers. In addition, they facilitate easy preparation and preservation of food.
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The rise in number of restaurants and hotels is attributed to rapid urbanization and globalization, which in turn is expected to boost the growth of the commercial cooking equipment market. Moreover, rise in health consciousness among consumers and increased demand for healthy and tasty food drive the market growth. However, price of commercial cooking equipment and volatile prices of raw materials hamper the growth of this france cooking equipment market. Irrespective of these challenges, the launch of eco-friendly and energy efficient cooking equipment for commercial kitchens to address the concerns of depletion of natural resources such as LPG and others, is anticipated to unfold opportunities for the market growth.
However, the 700 series segment is estimated to have the highest CAGR of 2.6% through 2018-2025. The 700 series is often used in small restaurants that require heavy-duty equipment within a small footprint. The growth in this category is attributed to the rise in the consumption of fried food from small food outlets and quick service restaurants. The rise in the working population coupled with an increase in the disposable income in the country boosts the growth of the food & beverage industry, which in turn positively impacts the growth of cooking equipment of various size including the 700 series.
In 2018, the mid-level category in the tier type segment of France cooking equipment market is expected to experience growth at the fastest CAGR of 3.4%. This is attributed to the higher application of this segment in the quick service restaurants as well as some of the full service restaurants. In addition, the growth in the hospitality sector has also added to the popularity of this category.
In 2018, the institutional canteen category in the held the highest share in the France cooking equipment industry based on end user. This was due to an increase in the demand for prepared food in public places and institutions owing to busy lifestyle of people and rise in the disposable income of people. However, the quick service restaurants segment is estimated to witness the fastest CAGR growth of 3.4% through the France cooking equipment forecast period. There is a rise in the demand for quick service restaurants due to the increase in demand for fresh, tasty, and appealing food available at an affordable cost. Moreover, changes in lifestyle and increasing affinity of the consumers towards fast food also boosts the market growth.
The key players operating in the France cooking equipment market focus on expansion as the prominent strategy to overcome competition and to maintain as well as improve their market share. The key players profiled in the report include Bonnet International, Charvet, Sofinor, Ali Group, Capic, and AB Electrolux.
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The Covid-19 pandemic has a vital impact on the growth of the France Cooking Equipment Market and altered several market scenarios. The lockdown across various countries and ban on international travel has disrupted the supply chain and revenue chain. The report includes a thorough analysis of the Covid-19 pandemic on the growth of the France Cooking Equipment Market.
Key Benefits for France Cooking Equipment Market:
• The report provides a quantitative analysis of the current market estimations, trends, and dynamics of the market size from 2018 to 2026 to identify the prevailing France cooking equipment market opportunities.
• The key countries in all the major regions are mapped based on the market share and France cooking equipment market trends.
• In-depth analysis of the France cooking equipment market segment and size assists to determine the prevailing France cooking equipment market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global industry.
• Market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of market players.
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