The global conveyor oven market is gaining from changing food habits in several parts of the world. Globalization, economic liberalization, and proliferation of media in nations such as India coupled with rising disposable incomes have been key factors for the adoption of newer foods, of which baked foods are one. The movement of people because of work opportunities and leisure travel have also created a fancy for new foods such as baked goods.
Globally, rising demand for baked goods is primarily driving the global conveyor oven market. The increasing consumption of baked goods such as pizzas, cakes, and cookies have played a major role in the growth of food industry and ancillary industries. For instance, pizzerias display a substantially high demand for conveyor ovens as they help reduce cooking time considerably, which in turn helps attain efficiency and improved customer experience.
A report by Transparency Market Research projects the global conveyor oven market to rise at a CAGR of 3.7% during the forecast period between 2017 and 2025, for the market to become worth US$123.2 mn by the end of 2025.
Industrial/heavy Type Conveyor Oven to Contribute Substantial Revenue through 2025
Based on type, the conveyor oven market is divided into countertop and industrial/heavy. Of the two, industrial/heavy type conveyor oven segment is anticipated to lead the market over the forecast period. The segment is estimated to contribute US$53.2 mn revenue to the overall market by the end of 2025. Rising demand for baked goods and adoption of modern equipment in the commercial food sector for fast and convenient cooking are primary factors for the growth of industrial/heavy type conveyor oven segment. However, countertop type conveyor oven segment are also anticipated to rise at a significant pace between 2017 and 2025.