Global Commercial Gas Fryer Market 2017-2021
About Commercial Gas Fryer
A commercial gas fryer is a kitchen appliance used for deep frying with the help of heat sources such as natural gas and propane gas. These come in two forms: countertop and floor standing models. The market is primarily driven by the increasing number of foodservice establishments providing fried food items, which largely include breaded poultry and fish items, as the profit margins in fried food items are high. Also, the globally growing foodservice market is influencing various foodservice establishments to invest significantly in the expansion of various emerging markets.
Technavio’s analysts forecast the global commercial gas fryer market to grow at a CAGR of 6.1% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global commercial gas fryer market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Commercial Gas Fryer Market 2017-2021
Technavio recognizes the following companies as the key players in the global commercial gas fryer market: Illinois Tool Works, Henny Penny, Ali, Middleby, and Welbilt.
Other Prominent Vendors in the market are: Admiral Craft Equipment, Alto-Shaam, Avantco Equipment, Electrolux Professional, FUJIMAK, and Grindmaster-Cecilware.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is growing preference for gas fryers with built-in filtration systems. Foodservice establishments using commercial gas fryers prioritize the quality of food items and quality of the oil used to fry. Due to the continuous usage of oil, accumulation of food debris reduces the quality of food items. To overcome the issue, vendors are providing built-in filtration system with gas fryers so that the oil can be cleaned and filtered repeatedly.”
According to the report, one driver in market is high profit margins in fried foods. Fried food products often account for profit margins of over 70% in foodservice establishments, mainly QSRs. For instance, chicken nuggets, which are one of the popular selling products of QSR chains, have a wholesale price of around $2.5 per pound. However, the cost of preparing six pieces (0.2 pounds) of chicken nuggets is around $0.36. Therefore, foodservice establishments earn a gross profit margin of approximately 90% and, by including other costs, such as labor wages and energy cost, the net profit margin reaches around 75% on chicken nuggets.
Further, the report states that one challenges in market is increasing raw material prices. One of the primary raw materials used in the production of commercial gas fryers is stainless steel. End-users also prefer cooking appliances that are made of steel as it is durable in comparison to other metals, such as aluminum or non-metal elements including plastic. However, the price of steel fluctuates frequently, which affects both manufacturers as well as end-users. The expanding demand-supply gap is also contributing to an increase in the cost of raw materials. For instance, during 2014-2016, there was a downward pressure on the prices of iron ore due to oversupply. However, during the forecast period, the demand for steel is expected to increase in most regions globally. For instance, in 2016, the demand from the infrastructure and construction industries was robust in China, which could influence steel prices to increase in 2017 in the country. Globally, the price of steel is expected to grow at a CAGR of 5% during the forecast period. The increase in the price of steel will directly hit the profit margins of manufacturers through an increase in production costs of commercial gas fryers, which cannot be passed on to end-users every time.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit- https://www.technavio.com/report/global-commercial-gas-fryer-market-2017-2021
Illinois Tool Works, Henny Penny, Ali, Middleby, Welbilt, Admiral Craft Equipment, Alto-Shaam, Avantco Equipment, Electrolux Professional, FUJIMAK, and Grindmaster-Cecilware.