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Softgel Capsules Market Size, Analysis and Forecast 2031

Posted by Prajakta on July 24, 2024 at 8:28am 0 Comments

The Softgel Capsules Market in 2023 is US$ 8.14 billion, and is expected to reach US$ 14.11 billion by 2031 at a CAGR of 7.10%.

FutureWise Research published a report that analyzes Softgel Capsules Market trends to predict the market's growth. The report begins with a description of the business environment and explains the commercial summary of the chain structure.… Continue

Commercial Deep Fryer Parts & Accessories Market Revenue Growth, Key Factors, Major Companies, Forecast To 2033

The commercial deep fryer parts & accessories market is forecasted to exceed a valuation of USD 730.5 million by 2033, propelled by a robust Compound Annual Growth Rate (CAGR) of 12%. With an initial valuation of USD 210 million in 2022, this market is primed for substantial growth, with projections indicating a valuation of USD 235.2 million by 2023.

A significant transformation is underway within the commercial deep fryer sector, marked by notable trends such as the incorporation of advanced filtration systems into fryers. This progressive shift is revolutionizing oil management efficiency, ensuring prolonged preservation of oil quality. The integration of fryers with built-in filtration systems not only results in significant cost savings but also enhances culinary success, fostering an environment of continuous innovation and heightened efficiency within the culinary industry. The commercial deep fryer parts and accessories market stands as a testament to these transformative changes, reflecting a steadfast commitment to excellence and innovation in the culinary domain.

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Rising Demand for Enhanced Features Fuels Growth in Commercial Deep Fryer Parts & Accessories Market:

The adoption of advanced features like digital controls and temperature monitors is gaining significant traction among consumers, prompting commercial establishments to embrace deep fryers and their associated parts and accessories. With a growing number of restaurants, hotels, and other food service venues entering the fray, the demand for commercial deep fryer parts is set to surge.

The Flourishing Convenience Food Industry Drives Demand:

The expanding convenience food industry is poised to drive the demand for commercial deep fryer parts. These parts play a vital role in the production of convenience foods, propelling the growth of the convenience food sector itself. The surging popularity of deep-fried snacks, including favorites like French fries, onion rings, and chicken wings, is anticipated to further amplify the demand for deep fryer parts in the years ahead.

Key Insights from the Market Study:

Deep fryer parts catering to commercial needs were valued at approximately $210 million in 2022.
The market valuation for commercial deep fryers and accessories is poised to attain $235.2 million in 2023.
North America emerges as a highly promising market, projected to command a robust 67% revenue share in 2023.
Filter systems are predicted to be the most in-demand component, expected to account for one-third of global revenues.
Quick-service restaurants are set to be the primary end-users, with an estimated 5% Compound Annual Growth Rate (CAGR) from 2023 to 2033.
"The rising inclination toward energy-efficient commercial fryers meeting industry standards, coupled with lucrative profit margins from fried food products, is anticipated to propel the market for commercial deep fryer parts and accessories," notes an analyst from Future Market Insights.

Competitive Landscape: Innovations and Leadership in Focus

Numerous enterprises are anticipated to prioritize research and innovation in the foreseeable future, propelled by strategies involving product line expansions, acquisitions, and mergers. Notable players within the commercial deep fryer parts & accessories market include Taurus Group, The Middleby Corporation, Henny Penny, Illinois Tool Works Inc., WinCo Foods, Inc., Avantco Equipment, AB Electrolux, Breville Group, National Presto Industries, and Manitowoc.

Strategic Leadership Enhancement:

In May 2022, a significant appointment was made as Ryan Kutter assumed the role of Chief Operating Officer at Henny Penny. With a wealth of experience spanning 28 years at Eaton, Kutter is expected to play a pivotal role in implementing the company's visionary strategy of becoming a prominent global food service equipment supplier. Leading various aspects, including operations, engineering, parts, supplies, and the Suzhou facility in China, Kutter's leadership comes amidst the company's rapid growth trajectory.

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Key Segments Profiled:

By Fryer Types:

Gas Deep Fryer
Electric Deep Fryer
By Installation Type:

Floor-standing fryer
Countertop fryer
By Component:

Fryer Covers
Filter System
Sediment Trays
By Distribution Channel:

Offline Stores
Online Retail Stores
By End User:

Quick Service Restaurants
Food Trucks
Ferry and Cruise
By Region:

North America
Latin America
South Asia
East Asia
Middle East and Africa
Read More:

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