PUBLISHER: The Business Research Company | PRODUCT CODE: 1458765
PUBLISHER: The Business Research Company | PRODUCT CODE: 1458765
A warming cabinet is a temperature-regulated storage unit utilized to maintain warmth and readiness for items such as food or medical supplies, commonly employed in healthcare, hospitality, and catering environments.
The primary types of warming cabinets include single-cavity and multiple-cavity variants. Single cavity configurations produce one product per cycle, suitable for low-volume production, prototype work, or producing small to large precision parts. Available in forms such as built-in, countertop, and floor-standing, these cabinets cater to diverse end-uses including hospitals, clinics, and other settings.
The warming cabinet market research report is one of a series of new reports from The Business Research Company that provides warming cabinet market statistics, including warming cabinet industry global market size, regional shares, competitors with a warming cabinet market share, detailed warming cabinet market segments, market trends and opportunities, and any further data you may need to thrive in the warming cabinet industry. This warming cabinet market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The warming cabinet market size has grown strongly in recent years. It will grow from $1.59 billion in 2023 to $1.68 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The growth observed in the historical period can be attributed to several factors, including a growing demand for foodservice and healthcare facilities, an increasing focus on food safety and hygiene, rising healthcare expenditure, a growing demand for wall-mounted warming cabinets, and an increasing preference for ready-to-eat meals.
The warming cabinet market size is expected to see steady growth in the next few years. It will grow to $1.99 billion in 2028 at a compound annual growth rate (CAGR) of 4.3%. The projected growth in the forecast period can be attributed to several factors, including the need for maintaining temperature-sensitive pharmaceuticals, the rise in disposable incomes and evolving consumer lifestyles, increased adoption in residential applications, the growing prevalence of chronic diseases, and the expansion of the foodservice industry. Key trends expected during this period encompass technological advancements, a focus on energy efficiency, the emergence of hybrid heating technologies, the integration of smart technology, and the influence of e-commerce trends.
The anticipated rise in the prevalence of chronic diseases is poised to propel the growth of the warming cabinet market in the future. Chronic diseases, which persist over an extended period and necessitate ongoing medical attention, management, and care, are on the rise globally. Warming cabinets play a vital role in managing chronic diseases by maintaining the optimal temperature of medical supplies and treatments, thereby contributing to patient comfort and effective therapeutic outcomes. For instance, as per data from the National Library of Medicine in January 2023, the number of individuals aged 50 and older with at least one chronic illness is projected to increase by 99.5%, from 71.522 million in 2020 to 142.66 million by 2050. Furthermore, chronic diseases accounted for 74% of all deaths globally, with cardiovascular diseases, cancer, chronic respiratory diseases, and diabetes being major contributors. Hence, the escalating prevalence of chronic diseases acts as a significant driver behind the growth of the warming cabinet market.
Key players in the warming cabinet market are intensifying their efforts to develop technologically advanced products, such as self-serve display food warmers, to gain a competitive advantage. Self-serve display food warmers are commercial food service equipment engineered to maintain prepared food items at desired temperatures while enabling customers to serve themselves. For example, in December 2021, Fri-Jado, a Netherlands-based food equipment company, introduced the MDD Hot, a self-serve heated merchandiser tailored for packaged hot food-to-go. The MDD Hot prioritizes maximum transparency and superior hot-holding technology for packaged grab-and-go food, emphasizing food visibility and energy efficiency. Its innovative design facilitates rear loading by operators and front self-service by customers. Leveraging patented Hot Blanket technology, the MDD Hot ensures food safety and freshness, with a multi-temp function enabling easy temperature control per shelf.
In November 2022, Hatco Corporation, a US-based designer and manufacturer of commercial equipment, acquired Food Warming Equipment Company Inc. (FWE) for an undisclosed sum. This strategic move is anticipated to broaden Hatco Corporation's product portfolio, catering to various industry segments while upholding its commitment to customer service and employee ownership. Additionally, the acquisition aims to reinforce Hatco's presence in the food service industry. Food Warming Equipment Company Inc. (FWE) is a US-based manufacturer specializing in commercial food service equipment, including warming cabinets.
Major companies operating in the warming cabinet market report are Thermo Fisher Scientific, 3M Company, Becton Dickinson and Company, Stryker Corporation, Medline Industries Inc., Arjo AB, CME Corp., Getinge AB, STERIS PLC, Rational AG, Midmark Corporation, Surgmed Limited, Fri-Jado, Memmert GmbH + Co. KG, Ferno, Vollrath Company, Skytron LLC, MAC Medical Inc., Pedigo Products Inc., Blickman Inc., Continental Metal Products Inc., DRE Medical Inc., Barkey GmbH & Co. KG, Hupfer Metallwerke GmbH & Co. KG, Future Health Concepts Inc., Kanmed AB
North America was the largest region in the warming cabinet market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the warming cabinet market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the warming cabinet market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The warming cabinet market consists of sales of food-warming cabinets, blanket warming cabinets, medical fluid warming cabinets, instrument warming cabinets, and portable warming units. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Warming Cabinet Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on warming cabinet market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for warming cabinet? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The warming cabinet market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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