Australia Commercial Cooking Ovens Market Synopsis
During the pre-COVID years, Australia commercial cooking ovens market witnessed decent growth on account of the growing purchases from quick and service restaurants for instance Aussies spent $19 billion on fast food in 2018 and QSR revenue from online orders amounted to $278 million in 2019. However, the market was negatively impacted in 2020 owing to restrictions imposed to curtail the spread of the COVID-19 pandemic. Moreover, the tourism activities were temporarily halted which further hampered the growth of the market. However, the commercial cooking market has recovered owing to the growing use of online meal delivery applications, such as UberEats as well as the rise in popularity of these services with online food sales in Melbourne and Sydney increasing by 10.8% in 2021. Currently, Australians are spending an average of $60 on food delivery services per week, almost double as per the previous year which is boosting the growth of the food sector and driving the demand for commercial cooking ovens in the country.
According to 6Wresearch, Australia Commercial Cooking Ovens Market revenue is projected to grow at a CAGR of 4.5% during 2023-2029. The demand for commercial cooking ovens is primarily driven by the growing tourism industry with an estimated 11 million international tourists by 2027 that would continuously make hoteliers establish new hotels in the country. Furthermore, the construction of 151 new four- and five-star hotels, altogether comprising 26,776 new rooms during 2022-2025 is expected to result in a greater need for commercial ovens in these establishments for cooking a variety of cuisines such as pizzas, roasted chicken, desserts and others and thus, would contribute to the growth of the Australia commercial cooking ovens during the forecast period.
Market by Number of Trays
In 2022, Between 6-10 trays captured the largest revenue share in the Australia commercial cooking ovens market. This trend is fuelled by high capacity enables them to handle significant quantities of food at once., which is crucial for restaurants, bakeries, and catering businesses. In terms of several trays, the current market is majorly occupied by Less than 6 trays of commercial cooking ovens owing to its less space requirement as smaller ovens are more space-efficient. Additionally, the lower power requirements and ease of installation, maintenance, and operation are also contributing factors to the growth of less than 6 Trays commercial ovens in Australia.
Market by Power
Growth opportunities lie in electric commercial ovens, as they are 75%-80% more efficient in producing heat for cooking. Additionally, there are growing initiatives from various organizations looking to promote this method for health concerns as well as environmental reasons.
Market by Applications
Growth opportunities lies in the food service segment as the growing number of fast-food chains along with increasing fast-food spending for instance consumers spending an average of $60 on food delivery services per week in 2023 an increase from $32 per week in the previous year.
Market by Distribution Channels
Multi-branded segment garnered maximum revenue share owing to the ease of availability of various verities and it provides a wide variety of options to choose from in a single place such as convection ovens, deck ovens, combi ovens, and more. The online segment has chance to rise in the years to come.
Key Attractiveness of the Report
- COVID-19 Impact on the Market.
- 11 Years Market Numbers.
- Historical Data Starting from 2019 to 2022.
- Base Year: 2022
- Forecast Data until 2029.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Highlights of the Report:
- Australia Commercial Cooking Ovens Market Overview
- Australia Commercial Cooking Ovens Market Outlook
- Australia Commercial Cooking Ovens Market Forecast
- Historical Data and Forecast of Australia Commercial Cooking Ovens Market Revenues, for the Period 2019-2029F
- Historical Data and Forecast of Australia Commercial Cooking Ovens Market Revenues, By Number of Trays, for the Period 2019-2029F
- Historical Data and Forecast of Australia Commercial Cooking Ovens Market Revenues, By Power, for the Period 2019-2029F
- Historical Data and Forecast of Australia Commercial Cooking Ovens Market Revenues, By Applications, for the Period 2019-2029F
- Historical Data and Forecast of Australia Commercial Cooking Ovens Market Revenues, By Distribution Channels, for the Period 2019-2029F
- Australia Commercial Cooking Ovens Market Porters Five Forces
- Australia Commercial Cooking Ovens Market Drivers and Restraints
- Australia Commercial Cooking Ovens Market Trends
- Australia Commercial Cooking Ovens Market Opportunity Assessment
- Top 3 Players Market Share, 2022
- Company Profiles
- Key Strategic Recommendations
Market Scope and Segmentation
Thereportprovides a detailed analysis of the following market segments:
By Number of Trays
- Less Than 6 Trays
- Between 6-10 Trays
- Between 11-15 Trays
- Between 15-20 Trays
- Above 20 Trays
By Power
- Gas
- Electric
By Applications
- Food Service
- Food
By Distribution Channels
- Multi-branded Stores
- Speciality Stores
- Online Stores
- B2B
