According to a new market report pertaining to the global commercial food warming & holding equipment market published by Transparency Market Research the global commercial food warming & holding equipment market is anticipated to reach a volume of 7,312 thousand units by 2027. The commercial food warming & holding equipment market is projected to expand at a CAGR of 4.5% from 2019 to 2027, in terms of volume. Growth of the commercial food warming & holding equipment market can be attributed to the increasing number of full service restaurants and quick service restaurants globally. Moreover, Asia Pacific is anticipated to emerge as the leading commercial food warming & holding equipment market during the forecast period.
Growth in Retail Stores to Drive Commercial Food Warming & Holding Equipment Market
In the past few years, major retailers expanded their market footprint in developing countries, such as India and China, to capitalize on the growing consumer spending power in these countries. Retail markets in developing regions are highly fragmented and unorganized. However, changing lifestyle, along with improving macroeconomic scenario has led to a significant rise in the number of organized retail stores worldwide.
Rapid growth of the organized retail sector is characterized by the rising number of hypermarkets, supermarkets, delis, etc. which is expected to boost the expansion of the overall food chain. This, is likely to boost the overall sales of the commercial food warming & holding equipment.
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Commercial Food Warming & Holding Equipment Market: Segmentation
The global commercial food warming & holding equipment market has been segmented in terms of product, end user, and region. Based on product, the commercial food warming & holding equipment market has been classified into holding equipment, warming equipment, meal delivery carts, and merchandisers. Among products, the holding equipment segment dominated the global commercial food warming & holding equipment market in 2018. The holding equipment segment has been sub-classified into holding cabinets, proofing cabinets, and refrigerators & chillers. The warming equipment segment has been sub-categorized into steam tables and food wells, countertop food warmers, fry dump stations or warmers, strip warmers, and banquet carts and heated banquet cabinets. The merchandiser segment has been sub-divided into heated display cases and refrigerated display cases.
