Rise of the hospitality sector, technological advancements, and innovative product launches drive the global deep fryer market
PORTLAND, Ore., Aug. 11, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Deep Fryer Market by End User (Residential and Commercial) and Distribution Channel (Offline and Online): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, the global deep fryer industry generated $487.6 million in 2018, and is estimated to reach $612.5 million by 2026, witnessing a CAGR of 3.0% from 2019 to 2026.
Drivers, restraints, and opportunities
Rise of the hospitality sector and innovative product launches drive the global deep fryer market. However, presence of substitutes and risks related to acrylamide formation during deep-frying hinder the market growth. On the other hand, technological advancements and untapped potential in developing countries present new opportunities in the coming years.
Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/6389
The commercial segment to maintain its dominant position during the forecast period
Based on end user, the commercial segment contributed to more than three-fourths of the total share of the global deep fryer market in 2018, and is estimated to maintain its dominant position based on revenue during the forecast period. This is due to rise in adoption by popularity of fast-food restaurants, also called quick-service restaurants (QSRs). However, the residential segment is projected to portray the largest CAGR of 3.7% from 2019 to 2026, owing to its compact nature, high energy efficiency, and ease in operation.
The offline segment to dominate in terms of revenue by 2026
Based on distribution channel, the offline segment accounted for the highest market share with more than 88% of the global deep fryer market share in 2018, and will continue to lead throughout the forecast period. This is due to the availability of variety of products at premium prices and offering high service quality and expert guidance to buyers.However, the online segment is estimated to register the highest CAGR of 4.4% from 2019 to 2026. This is attributed to convenience to buyers andavailability of distribution technologies that reduce overall supply chain costs.
Asia-Pacific to offer lucrative opportunities, North America to grow steadily
Based on region, Asia-Pacific accounted for the highest share in terms of revenue in 2018, holding more than one-third of the total share of the global deep fryer market, and is expected to maintain its dominance in terms of revenue throughout the forecast period. Moreover, this segment is expected to maintain the highest CAGR of 4.0% from 2019 to 2026.This is due tosurge in automation in commercial kitchens, developing economies such as China and India, and emergence of new business models. However, North America contributed more than one-fifth of the total share in 2018, and will grow steadily.
For Purchase Enquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/6389
Leading market players
Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter
Get more information: https://www.alliedmarketresearch.com/library-access
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
Toll Free: 1-800-792-5285
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Follow Us on: LinkedIn Twitter