Commercial Undercounter Dishwasher Market Global Opportunity Analysis and Industry Forecast, 2021–2030
POTLAND, 5933 NE WIN SIVERS DRIVE, #205, OR 97220, UNITED STATE, November 25, 2021 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “commercial undercounter dishwasher market by product, end-user, and distribution channel: global opportunity analysis and industry forecast, 2021–2030,” the global commercial undercounter dishwasher market size was valued at $2,864.0 million in 2020, and is projected to reach $4,072.7 million by 2030, registering a CAGR of 3.8% from 2021 to 2030.
The eating-out culture is gaining high traction across the globe. According to the National Center for Biotechnology Information (NCBI), dining out is more frequent among the younger, employed, unmarried, higher income group, urban resident, highly educated, and male population. As per the study of the NCBI, people who skip breakfast showed a higher tendency to eat out more frequently. Over the past few decades, the eating-out culture has increased significantly, due to increase in employment among women, rise in number of nuclear families, and surge in household income.
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Furthermore, rise in number of foodservice entities such as restaurants, catering units, hotels, cafeterias, and similar units is fueling the commercial undercounter dishwasher demand. Moreover, increase in number of medium and small-sized restaurants is a major growth driver of the global market, as undercounter dishwasher serves the budget, space limitations, and cleaning needs of these restaurants. According to the National Restaurant Association, 12.5 million restaurants were operating in the U.S. in 2020, out of which 90% restaurants have less than 50 employees that indicates the small- and medium-sized restaurants. Around 70% of the restaurants have single-unit operations.
The outbreak of the COVID-19 disease in 2020 hampered the commercial undercounter dishwasher market growth. The globe faced complete lockdown situation and travelling restricts imposed by the government in order to curb the spread of the virus. The major end-users of commercial undercounter dishwasher such as hotels and restaurants remained closed for long. This drastically reduced the demand for the commercial undercounter dishwasher industry in 2020.
The global commercial undercounter dishwasher market is segmented on the basis of product, end-user, distribution channel, and region. On the basis of product the commercial undercounter dishwasher market is bifurcated into high temperature and low temperature. By end-user, it is segregated into hotels, restaurants, and others. On the basis of distribution channel, it is segregated into supermarket/hypermarket, specialty stores, and online sales channel. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
According to the commercial undercounter dishwasher market forecast, on the basis of product, the low temperature segment was the highest contributor to the market, accounting for $1,912.8 million in 2020, and is expected to sustain its significance during the forecast period, owing to the presence of high number of small and medium-sized foodservice entities that faced space and budget restrictions.
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On the basis of end-user, the restaurants segment exhibited a market share of around 55.5% in 2020 due to the rapid penetration of restaurants across the globe, especially in North America and Europe, where the restaurants sector highly influences the gross domestic product of the region.
As per the commercial undercounter dishwasher market trends, by distribution channel, the online sales channel is expected to show the highest growth rate due to the growing adoption of internet and rising popularity of online retailers such as Amazon, Flipkart, and Walmart.
According to the global commercial undercounter dishwasher market analysis, in 2020, Europe dominated the market, garnering around 41.2% of the total commercial undercounter dishwasher market share, followed by North America. The European economy is significantly influenced by the presence large number of family run small and medium-sized hotels and restaurants.
Players operating in the global commercial undercounter dishwasher market have adopted various developmental strategies to expand their market share, exploit the commercial undercounter dishwasher market opportunities, and increase profitability in the market. The key players profiled in this report include AB Electrolux, Ali Group SRL, CMA Dishmachine, Fisher & Paykel Appliances, Inc., Illinois Tool Works, Inc., JLA Ltd., Jacksons WWS, Inc., Miele & Cie KG, The Clarke Associates Co., and Winterhalter Gastronom GmbH.
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Key findings of the study
The global commercial undercounter dishwasher market size was valued at $2,864.0 million in 2020, and is projected to reach $4,072.7 million by 2030, registering a CAGR of 3.8% from 2021 to 2030.
By product, the low temperature segment was the highest contributor to the market, with $1,912.8 million in 2020, and is estimated to reach $2,691.6 million by 2030, at a CAGR of 3.7% during the forecast period.
By end-user, the restaurants segment was the highest contributor to the market, with $1,591.8 million in 2020, and is estimated to reach $2,187.2 million by 2030, at a CAGR of 3.5% during the forecast period.
By distribution channel, the specialty stores segment was the highest contributor to the market, with $1,676.1 million in 2020, and is estimated to reach $2,308.1 million by 2030, at a CAGR of 3.5% during the forecast period
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Source: EIN Presswire