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Current situation and prospect analysis of commercial gas fryer industry in Vietnam 2024-20302026-10-12
Industry News | 2025-03-29 12:00:00
Current situation and prospect analysis of commercial gas fryer industry in Vietnam 2024-2030
In recent years, Vietnam has continued to promote reform and accelerate its integration into the global economy, and its national economy has generally remained stable. From 2016 to 2019, GDP grew at an average annual rate of more than 6.5%. According to the Statistical Yearbook of Vietnam 2022, in 2020 and 2021, Vietnam's economic growth rate dropped to 2.87% and 2.56% due to the COVID-19 epidemic, but it is still one of the few countries in the world to maintain positive growth. In October 2021, Vietnam lifted the lockdown and accelerated the resumption of work and production. In 2022, Vietnam's GDP grew by 8.02% year on year, making it one of the fastest growing economies in the world. In 2023, affected by the slowing of the global economic recovery and shrinking demand in major economies, Vietnam's export orders decreased significantly, dragging down economic growth, and GDP growth fell to 5.05% in 2023. In June 2023, the World Bank's Macro Monitoring of Vietnam pointed out that continued weak external demand, coupled with increasing global uncertainties, has brought many adverse effects on the Vietnamese economy, resulting in a decline in imports and exports and a slowdown in industrial production. Despite this, Vietnam's economy has outperformed most countries in the world and remains one of the most attractive countries in the world for foreign investment. According to the April 2024 forecast of the World Bank, Vietnam's economic growth rate is expected to reach 5.5 percent in 2024 and gradually increase to 6 percent by 2025.
This paper focuses on the main foreign and local enterprises in the Vietnamese market, and analyzes the overall competition pattern, current situation and future trend of the Vietnamese market.
According to the latest research by QYResearch, the global commercial gas fryer market sales revenue reached 2.1 billion yuan in 2023, and is expected to reach 2.7 billion yuan in 2030, with a compound annual growth rate (CAGR) of 3.5% in the next few years.
In terms of the Vietnamese market, the compound annual growth rate (CAGR) is expected to be xx% during 2024-2030, higher than the global xx%, and the market size of the Vietnamese market will reach xx billion yuan in 2030.
This research project aims to deeply explore the growth potential and development opportunities of commercial gas fryers in the Vietnam market, analyze the competition situation, sales model, customer preference, and overall market business environment in Vietnam, and provide objective reference opinions for domestic enterprises to carry out business overseas.
The world's major Commercial Gas Deep Fryer manufacturers are located in North America and Europe, Core manufacturers are Ali Group S.r.l., Henny Penny Corporation, The Middle by Corporation, Illinois Tool Works Inc., Standex International and Electrolux Professional AB, the top three manufacturers account for about 60% of the global share. In terms of product type, commercial gas fryers with a capacity of 20L or greater are the largest segment with a share of approximately 67%, while in terms of downstream, fast food restaurants are the largest segment with a share of 36%.
Commercial gas fryers use gas as heating source, which has the characteristics of high efficiency and energy saving. Compared to other heating methods, gas fryers can reach the required temperature more quickly and maintain a stable cooking environment, thus improving production efficiency and energy utilization. In Vietnam, fast food culture prevails, fast food, takeout, convenience stores and other industries are developing rapidly, these industries have a huge demand for efficient and energy-saving commercial fryer equipment, which has promoted the rapid development of Vietnam's commercial gas fryer industry.