LONDON--(BUSINESS WIRE)--The global commercial gas fryer market is expected to grow at a CAGR of more than 6% during the forecast period, according to Technavio’s latest market research.
In this market research report, Technavio covers the market outlook and growth prospects of the global commercial gas fryer market for 2017-2021. The market is further categorized into floor standing commercial gas fryers and countertop gas fryers, of which the floor standing commercial gas fryers segment dominated the market with more than 67% of the overall market share in 2016.
“The market is primarily driven by the increasing number of foodservice establishments providing fried food items, which largely include breaded poultry and fish items, as the profit margins in fried food items are high. Also, the globally growing foodservice market is influencing various foodservice establishments to invest significantly in the expansion of various emerging markets,” says Manu Gupta, a lead food service research expert from Technavio.
Technavio’s research analysts segment the global commercial gas fryer market into the following regions:
- Americas
- EMEA
- APAC
Commercial gas fryer market in the Americas
The commercial gas fryer market in the Americas is expected to grow at a CAGR of more than 6% during the forecast period owing to the high consumption of deep fried breaded food items, including poultry and fish items. For instance, some of the popular frozen fried chicken items consumed in the US includes chicken nuggets and chicken tenders. These fried breaded food items are largely served in various QSRs chains, such as McDonald’s, KFC, and Wendy’s, in the region. Due to the high-volume demand for fried foods in the US and Canada, most QSR chains produce over 150 lb. of fried food on a daily basis in North America.
Want more information on this market? View a market snapshot before purchasing the report.
Technavio reports answer key questions relating to market size and growth, drivers and trends, top vendors, challenges, and more. Technavio also offers customization on reports based on specific client requirement.
Commercial gas fryer market in EMEA
The commercial gas fryer market in EMEA is expected to grow at a CAGR of more than 5% during the forecast period owing to the increasing demand for energy-efficient gas fryers in the region. Foodservice establishments using commercial gas fryers for high volume production of fried food items prefer to procure the ones that are energy efficient.
Some of the popular brands in the region provide commercial gas fryers that are certified under the ENERGY STAR program of the Environmental Protection Agency. For instance, PITCO provides commercial gas fryer models that are ENERGY STAR certified, which includes SSH55(R), 55T(R), 60(R), and 60W(R) gas fryers.
Commercial gas fryer market in APAC
The commercial gas fryer market in APAC is expected to grow at a CAGR of close to 7% during the forecast period. The growth in the hospitality industry, primarily the QSR and FSR segments, is one of the major factors driving revenue growth in the region. China, Japan, Australia, and India are some of the leading markets in the region.
Foodservice establishments are massively expanding in the region by adding more number of outlets in APAC. For instance, KFC accounted for more than 60% of the QSR market in Thailand in 2016. In the same year, Yum! Brands also announced its plans to open more than 100 new KFC restaurants in Thailand by the end of 2020. Similarly, McDonald’s announced its plans to open more than 1,500 new restaurants in China, and South Korea during the forecast period.
“Such expansions mark the gaining popularity of fast foods in APAC, with breaded fried food items being one of the popular items on the fast food menu, which in turn will lead to an increase in the sale of new units of gas fryers in the region,” says Manu.
The top vendors in the global commercial gas fryer market as highlighted in this market research analysis are:
- Illinois Tool Works
- Henny Penny
- Ali
- Middleby
- Welbilt
Browse Related Reports:
- Global Commercial Food Display Cabinet Market 2017-2021
- Global Commercial Drawer Warmer Market 2017-2021
- Commercial Foodservice Equipment Market in the US 2017-2021
Become a Technavio Insights member and access all three of these reports for a fraction of their original cost. As a Technavio Insights member, you will have immediate access to new reports as they’re published in addition to all 6,000+ existing reports covering segments like food, alcoholic beverages, and non-alcoholic beverages. This subscription nets you thousands in savings, while staying connected to Technavio’s constant transforming research library, helping you make informed business decisions more efficiently.
About Technavio
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
If you are interested in more information, please contact our media team at media@technavio.com.
