Global Commercial Griddle Market, Valued at US$ 525.8 Million in 2023 and Projected to Surpass US$ 834.2 Million by 2033, Growing at 4.7% CAGR

The global commercial griddle market is anticipated to undergo a steady growth trajectory, exhibiting a Compound Annual Growth Rate (CAGR) of 4.7% throughout the projected period. As of the current year, 2023, the market commands a valuation of US$ 525.8 million. Projections indicate that by the year 2033, the commercial griddle market is poised to attain a substantial value of US$ 834.2 million.

This assessment is derived from meticulous research conducted by experts at Future Market Insights. Historical data places the market's valuation at US$ 496.0 million during the base year, a phase when the market registered a CAGR of 3.7%, signifying a notable progression.

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Owing to the expanding food service sector, evolving home cooking trends, and the emergence of innovative culinary apparatus to cater to escalating demands, the popularity of commercial griddles and flat-top grills has witnessed a significant upsurge. This trend is accentuated by a mounting preference from both restaurants and households for cooking solutions characterized by efficacy and superior quality, thereby paving the way for substantial market expansion.

The contemporary landscape of food service consumption is marked by an augmented pursuit of convenience and a diverse gastronomic experience. Consequently, this paradigm shift propels the growth trajectory of the commercial griddle and flat-top grill market. Notably, the market is poised to experience heightened demand for pioneering products, such as electric flat-top grills and griddles. This momentum is projected to sustain and gain momentum in the forthcoming period, thus inciting an increased surge in the demand for these specialized cooking appliances.

- Key Takeaways from the Market Study

Global market for commercial griddles & flat top grills was valued at US$ 1.9 billion in 2022
By end-user, full-service restaurants will account for 55% of commercial griddles & flat top grills usage in 2023
By distribution channel, specialty stores account for over 1/5th of all commercial griddles & flat-top grills sales
North America is expected to be a significant growth hotspot, with an expected CAGR of 4.8%
Asia-Pacific is expected to hold a credible revenue share in the market, amounting to 35%

"Stainless steel grills are becoming increasingly popular due to their long lifespan, cost-effectiveness, and increasing demand for premium products for outdoor and home cooking activities in the future," says a Future Market Insights analyst.

- Competitive Landscape

With product line expansions, acquisitions, and mergers imminent, several companies are expected to prioritize research and innovation. Key players in the commercial griddles & flat top grills market are Welbilt Inc., The Middleby Corporation., Fujimak Corp., SIMCO Group, The Vollrath Co., Avantco Equipment, AB Electrolux, Standex International Corp., Equipex, Blaze Grills, Americarange, Secura and others.

In February 2023, Traeger Inc., the leader in wood-pellet grill technology, announced the launch of the new Flatrock Grill, which expands its outdoor cooking experience. Adaptable to any cooking method and a variety of cooking practices, the Flatrock Grill is the newest standard in the expanding griddle cookware category, bringing new flavor possibilities to customers with premium, innovative designs.
An Asian fusion restaurant, Flat Top Grill, will open in December at 2795 Katy Freeway, in Houston's Lower Heights District. The Lower Heights District (located between Studemont and Sawyer) will be the first location outside the Midwest for Gulf Coast Commercial Group's brand.
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- Market Segments Covered:

By Griddle Type:
Single Sided Griddle
A Built-in Unit
Part of a Range or Cooking Center
Freestanding Unit
Double Sided Griddle

By Top Plate Type:
Flat
Ribbed
Mixed

By Plate Material:
Chrome Steel
Aluminium
Ceramic Glass

By Distribution Channel:
Offline Stores
Hypermarkets/Supermarkets
Convenience Store
Specialty Stores
Online Retail Stores

By End-User:
Full-service Restaurants
Quick Service Restaurants
Food Trucks
Cafeterias
Bars and Clubs

By Region:
North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East and Africa

About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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This release was published on openPR.