The USA dominates North America’s market with a 68% share. Catering food warmers are gaining popularity in commercial and residential settings for their exceptional convenience.
NEWARK, Del, Oct. 03, 2023 (GLOBE NEWSWIRE) — According to Future Market Insights, the global catering food warmers market size is expected to grow from US$ 493.7 Million in 2023 to US$ 909.4 Million by 2033, with overall sales accelerating at 6.3% CAGR throughout the forecast period (2023-2033).
Rising applications of catering food warmers across residential and commercial sectors, along with an increasing number of catering agencies worldwide, is a key factor boosting sales of catering food warmers.
Catering food warmers are available in various types and sizes, enabling end users to choose any specific product based on their requirements. The availability of a wide range of food warmers in the market will thus positively influence sales over the next decade.
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Another factor driving sales of catering food warmers is the desire to keep food served at the ideal temperature, regardless of the kind of event or the food served.
With increasing research and development and technological advancement, companies are finding new techniques to use catering food warmers to their maximum potential effectively. Manufacturers competing in the global market for catering food warmers are developing cutting-edge features to satisfy every consumer need.
“The Catering Food Warmers Market is poised for substantial growth in the coming years. Driven by an increasing demand for convenient and efficient food service solutions, this market is expected to expand its global footprint significantly. Factors such as the growing foodservice industry and a rising preference for hot and ready-to-eat meals are likely to fuel the adoption of catering food warmers, making it a lucrative sector for industry players and investors.” – says Nandini Roy Choudhury, Client Partner for Food & Beverages at Future Market Insights, Inc.
Key Takeaways from the Catering Food Warmers Market Report:
- Based on type, demand for electric warmers is expected to surge at a significant pace over the next ten years.
- By sales channel, the online segment will generate the highest revenues in the market during the projected period.
- The US holds around 68% share of the global catering food warmers market and is expected to surpass a valuation of US$ 127.6 Billion in 2023.
- Asia Pacific holds approximately 18% of the worldwide catering food warmers market.
- China’s catering food warmers market is projected to grow at a CAGR of around 6.3% over the next ten years.
The global food warmers market is highly competitive due to the presence of many domestic and regional players. Key companies are focused on cost-effective food warmer products to meet end-user demands.
The top 5 manufacturers of catering food warmers are Robert Bosh, Samsung Group, Prestige, Bajaj Group, and Milton, collectively holding 20% to 30% of catering food warmers’ market share.
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In its new offering, Future Market Insights provides an unbiased analysis of catering food warmers, presenting historical demand data (2018-2022) and forecast statistics for 2023-2033.
The study provides valuable insight into the catering food warmers market based on Type (electric warmers, plastic warmers, electric steamer, steel food warmers, and chocolate food warmers), End Use (Personal Care, Food and beverage Processing, and Cosmetics), and Sales Channel (Online, Offline) across seven major regions of the world.
Leading Key Players:
- Robert Bosch
- Samsung Group
- LG Corporation
- Bajaj group
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Catering Food Warmers Market Segmentation:
- Electric Warmers
- Plastic Warmers
- Electric Steamer
- Steel Food Warmers
- Chocolate Food Warmers
By End Use:
By Sales Channel:
- North America
- Latin America
- East Asia
- South Asia
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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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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Originally published at https://www.einpresswire.com/article/659496220/global-catering-food-warmers-market-surges-at-a-6-3-cagr-envisioned-to-cross-the-us-909-4-million-mark-by-2033-future-market-insights-inc