LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the commercial fryer market in the US to grow at a CAGR of more than 5% during the forecast period, according to their latest report.
The market study covers the present scenario and growth prospects of the commercial fryer market in the US for 2017-2021. The report also lists commercial floor-standing fryers and commercial countertop fryers as the two major product segments, of which the former accounted for more than 71% of the market share in 2016.
The growth of the commercial fryer market in the country will be driven by the expansion plans of various end-users during the forecast period. Many end-user segments such as quick service restaurants (QSRs), hotels, restaurants, cafés, bakeries, food trucks, schools, colleges, amusement parks, kiosks, catering companies, clubs, and pubs use commercial fryers in the country.
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Technavio analysts highlight the following three market drivers that are contributing to the growth of the commercial fryer market in the US:
- High profit margins from fried food products
- Growing inclination toward energy-efficient commercial fryers
- Compliance with industry standards
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High profit margins from fried food products
Fried food products account for a profit margin of around 75%. The high profit margins associated with fried food items help foodservice establishments in the country to generate significant revenues from them. Due to this, foodservice establishments in the country may increase their investment in commercial fryers, which will propel the market growth in the country during the forecast period.
According to Manu Gupta, a lead analyst at Technavio for food service research, “The high consumption of deep-fried food products such as chicken strips, French fries, and onion rings in the US influences the profit margins of foodservice establishments. Due to the high profit margins from fried food items, more end-users may include such foods in their offerings. This will propel the market growth for commercial fryers during the forecast period.”
Growing inclination toward energy-efficient commercial fryers
Many players in the commercial fryer market in the US offer ENERGY STAR-certified commercial fryers so that they can provide numerous benefits to their customers such as shorter cooking time and higher production rate. ENERGY STAR-certified commercial electric fryers can save around 1,800 kWh per year. ENERGY STAR-certified commercial fryers are around 14% more energy-efficient than standard models, and ENERGY STAR-certified commercial heavy-duty fryers are around 35% more energy-efficient than the non-certified models.
“Energy-efficient commercial fryers offer various benefits to foodservice establishments and other end-users by reducing the energy consumption. Energy-efficient commercial fryers also have advanced technologies for filtration, which reduce oil usage and provide cost benefits. In the US, the demand for ENERGY STAR-certified commercial fryers is growing. This is likely to influence the market growth during the forecast period,” says Manu.
Compliance with industry standards
Vendors of commercial fryers in the US are focusing on manufacturing fryers that meet all the industry standards. This includes the requirements of material safety, design, construction, and performance of the product, which is in contact with food items. The standards ensure that the food made in commercial fryers will not cause any harm to customers.
Foodservice establishments need to ensure that they use commercial fryers that comply with the industry standards. Electrical Testing Laboratories (ETL) Sanitation Mark on a commercial fryer indicates that the fryer is compliant with the North American product safety standards.
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