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The crepe makers market size is forecast to increase by USD 150 million and is estimated to grow at a CAGR of 10.44% between 2023 and 2028. The market's expansion relies on various factors. Firstly, there's a growing demand for energy-efficient electric crepe makers, driven by the need for sustainable solutions in the food industry. These appliances not only reduce energy consumption but also align with eco-conscious trends. Secondly, globalization has led to evolving food preferences worldwide, fostering an increased interest in diverse cuisines, including crepes. This shift in consumer tastes presents opportunities for crepe makers to cater to a broader audience. Lastly, the rising demand for restaurant services contributes to the market's growth, as more establishments seek versatile equipment to meet the evolving needs of their customers.
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In the dynamic and competitive Market, country-level political scenarios and social factors significantly influence business strategies and product introductions. As an innovator in this cutting-edge industry, our research team meticulously analyzes the market status, product specifications, and production capacity to identify winning imperatives. The Market faces both short-term and long-term restraining forces. The market landscape depends on the Electric Crepe Maker, Country level, crep dynamics, Food service, Market scenario. Market scenarios such as economic downturns, inflation, and loss of production due to unforeseen circumstances necessitate active and agile responses. Availability of alternatives and food at home trends pose additional challenges. Our product strategy is to offer a diverse range of product types and application types, subsegmented to cater to various customer needs. We prioritize market strategies that foster brand loyalty and maintain a competitive gross margin. The Ace Matrix, our intelligence report, provides insights into the winning strategies for the Crepe Maker Market. By staying informed of the latest political factors and social trends, we ensure our business strategy remains active and responsive to the ever-changing market landscape. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the growth of the market is the increasing demand for energy-efficient electric crepe makers. Vendors in the market are coming up with several models of energy-efficient crepe makers that consume less power, even when in use for a longer period. The cost of electricity is rising across the globe. Therefore, consumers are looking for better substitutes for cooking and kitchen appliances.
With the introduction of power-efficient crepe makers, consumers are inclined toward the adoption of these appliances, which can save household expenditure to a certain extent. The easy portability of the appliance and its ease of cleaning are other factors that support the price and sales of electric crepe makers. Such factors will increase market growth during the forecast period.
Fast cooking time is a market trend, which is expected to have a positive impact during the forecast period. The rate of employment has grown to a significant level over the past decade. Both men and women in a household are employed, which reduces their time to cook at home. Consumers are showing interest in purchasing appliances that can help reduce the time for cooking.
The crepe maker is one of those cooking appliances that can cook different kinds of food in a very short period. This aspect drives the sales of the appliance in the market. Crepe makers are expected to gain more popularity among nuclear families and encounter a surge in demand during the forecast period.
The requirement for high initial capital investments will be a major challenge impeding the market growth during the forecast period. The cost of investment in the manufacturing and distribution of cooking appliances continues to be a roadblock to market growth globally. Digital technologies are used in appliances to improve their functionality and performance. Hence, these devices are more in demand among consumers. Vendors in the market are required to partner with several technology companies to impart features such as Bluetooth connectivity, Wi-Fi compatibility, and smart sensors to their devices.
The formulation of the design and architecture of the appliance requires a rigorous R&D process during the initial phase of setup. Thus, owing to all these factors, a vendor requires significant initial expenditure to invest in the market. The high initial capital investments are a challenge for the market as all the companies are not financially strong enough to bear the cost of investment. Such factors will hinder the market growth during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Beper S.r.l.: The company offers crepe maker namely Beeper Forneria Verona crepe maker. It also focuses on manufacturing small home appliances, kitchen appliances, personal care, and home cleaning.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market players, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the commercial segment will be significant during the forecast period. The increasing number of domestic and international players in the market has raised the volume turnover of the market. The presence of leading market players in Europe and North America has fueled the competition among players. The global market is a highly competitive and expanding economy sector with a wide range of commercial applications.
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The commercial segment was valued at USD 137.10 million in 2018 and continued to grow until 2022. In this segment, restaurants, cafes, food trucks, and other businesses that provide food services and include crepes on their menus make up most of the commercial segment for crepe makers. Most crepe makers' clients are restaurants and cafes because they offer crepes as a popular dessert or as the main course for brunch or breakfast. Due to their portability and convenience, food trucks are becoming increasingly popular, and crepes are one of their most popular dishes. The demand for commercial crepe makers has also increased using crepe makers at hotels and resorts' breakfast buffets. Such factors will increase segment growth during the forecast period.
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North America is estimated to contribute 44% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The US and Canada are the leading countries in the market in North America. A high level of product awareness and product utility are the two significant market drivers, making it one of the most infrastructure-ready markets for crepe makers. The market has experienced exponential growth in these leading countries as most consumers are exposed to information about kitchen appliances from the high penetration of TV shows and programs, such as MasterChef and various YouTube channels. This supports the growing awareness of kitchen appliances and the latest product innovations.
In addition, the availability of numerous job opportunities encourages people from rural areas to migrate to cities. People seek convenient and easy-to-prepare meals due to busy work schedules and hectic lifestyles. This drives the adoption of convenience food products such as tortillas and galleries in the region, fueling the demand for crepe makers in North America. Hence, such factors are driving the market in North America during the forecast period.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments
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The Market is influenced by various factors, starting with the increasing demand for energy-efficient Electric Crepe Makers, driven by sustainability concerns. This demand is observed at both the country and global levels, affecting product pricing and market dynamics. Political and social scenarios also play a crucial role, impacting business strategies and scalability. Manufacturers, such as Waring, leverage innovative product strategies to stay competitive in this evolving market. While short-term factors like trade tariffs and restrictions pose challenges, long-term driving forces include changing consumer behavior and buying patterns. Market intelligence reports help senior executives make informed decisions amidst the fluctuating regulatory environment and interest rates. Overall, the Market shows promise with prospects for growth, fueled by advancements in production processes and product innovations.
Market Scope |
|
Report Coverage |
Details |
Page number |
157 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 10.44% |
Market growth 2024-2028 |
USD 150 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
8.65 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 44% |
Key countries |
US, China, Germany, UK, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Beper S.r.l., Casselin SAS, CHEFMAN, Conair Corp., Dinesh Industries, Domu Brands Ltd., Equipex LLC, Euro Cuisine Inc., Eurolux, Hamilton Beach Brands Holding Co., NutriChef Kitchen LLC, Paderno S.p.A., Restaurant Kitchen Equipment LLC, ROLLER GRILL INTERNATIONAL SAS, Salton Corp., SCS Direct Inc., SEB Developpement SA, StarBlue, Stonewall Kitchen LLC, and The CrepePro |
Market dynamics |
Parent market analysis, market growth analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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