The food holding and warming equipment market is forecast to reach USD 4.9 Billion by the year 2023, with a projected CAGR of 3.2% between 2023 and 2033. This growth is primarily driven by the increasing emphasis on food quality and safety, which creates a favorable environment for the food holding and warming equipment market. The market is expected to continue growing, reaching around USD 6.7 Billion by 2033.
A major factor contributing to the growth of the food holding and warming equipment market is the increasing number of foodservice providers, such as food trucks and pop-up restaurants, which is expected to boost the demand for portable and compact food holding and warming equipment.
Customers are increasingly looking for customizable food holding and warming equipment that can cater to their specific needs. Manufacturers are responding to this demand by offering a wide range of products with customizable features, such as temperature control, size, and capacity.
The increasing focus on energy efficiency and sustainability is another key factor driving the growth of the food holding and warming equipment market. Manufacturers are introducing products that are designed to reduce energy consumption and minimize environmental impact, which appeals to customers who prioritize sustainability, and has led to a rise in the adoption of energy-efficient food holding and warming equipment.
The integration of advanced technologies like IoT-enabled sensors and cloud-based monitoring systems is also expected to revolutionize the food holding and warming equipment market. The technologies enable better temperature control, food safety monitoring, and real-time data analysis, which helps to improve operational efficiency and reduce food waste. The technologies also provide valuable insights to foodservice providers, helping them optimize their operations and improve customer satisfaction.
Smart food holding and warming equipment with features such as Wi-Fi connectivity and remote monitoring capabilities are gaining popularity among foodservice providers. The features enable businesses to monitor their equipment and food in real-time, making it easier to maintain food safety and quality.
Key Takeaways:
- Global food holding and warming equipment market was valued at USD 4.7 Billion by 2022 end.
- From 2018 to 2022, the market demand expanded at a CAGR of 2.1%.
- North America is expected to hold a dominant CAGR of 3.1% during the forecast period.
- By Category, the heated display cases segment is expected to constitute a CAGR of 3.1% in 2033.
- On the basis of Application, the restaurants segment is expected to dominate the market with a CAGR of 3.0% in 2033.
Competitive Landscape:
Prominent players in the food holding and warming equipment market are Admiral Craft, Cambro Manufacturing, The Middleby Corporation, Hatco, Cres Cor, Raulsen, True Manufacturing, Turbo Air, Vollrath, Welbilt Inc., Vulcan, Winco, Alto-Shaam, Avantco Equipment, among others.
Recent Developments:
- In 2021, The Vollrath Company introduced a new line of sous vide immersion circulators, which are designed to precisely cook and hold food at a specific temperature.
- In 2021, Welbilt Inc. launched a new line of heated holding cabinets called the Garland HGD Series, which are designed for high-volume kitchens and can hold a variety of food items at different temperatures.
- In 2020, Hatco Corporation launched a new line of food holding cabinets called Intelligent Heated Display Cabinets, which are designed to maintain food temperature, quality, and presentation.
- In 2020, Alto-Shaam introduced new combi oven models featuring Halo Heat technology, which uses low-temperature radiant heat to gently cook and hold food.
Key Segments Covered:
By Category:
- Heated Display Case
- Food Pan Warmer/Rethermalizer
- Heat Lamp/Cabinet
- Heated Holding Proofing Cabinet
- Heated Shelf Food Warmer
- Warming Drawer
By Installation Type:
- Undercounter
- Counter-Top
By Material Type:
- Acrylic
- Aluminium
- Stainless Steel
By Display Rack Type:
- Rotating Racks
- Shelves
By Application:
- Hotels
- Restaurants
- Cafes
- Bakeries
- Food Courts
- Others
Author:
Ronak Shah (Associate Vice President at Future Market Insights) is deeply committed to uncovering actionable insights for consumer and food and beverage players. She brings a unique blend of analysis, industry trends, and consumer behavior to put data into perspective.
What she makes out of data becomes a delight to read. She has authored many opinions, including for publications like Process Industry Informer and Spinal Surgery News, as she understands the market pulse and consumers’ shifting preferences.
She likes to bring experts to a roundtable to weigh the impact of a trend on an industry. Catch up with her discussion on the impact of AI in packaging.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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