Product ID: UCMIG25F2040
Report ID:
UCMIG25F2040 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
In 2020, the global market for commercial tabletop kitchen products reached a significant value of USD 9.93 billion. This market segment is projected to witness steady growth in the coming years, with a compound annual growth rate (CAGR) of 7.5% from 2021 to 2028. This expansion is attributed to several factors, such as increasing demand for innovative and efficient kitchen solutions in commercial establishments, including hotels, restaurants, and cafes. The rising trend of dining out and the growing preference for aesthetically appealing tabletop kitchen products also contribute to the market's growth. As a result, manufacturers and suppliers in the industry are anticipated to capitalize on these opportunities by introducing new and improved offerings to meet the evolving needs of the foodservice sector.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Home Furnishings by segment aggregation, the contribution of the Home Furnishings in Consumer Durables & Apparel and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Product ID: UCMIG25F2040