Surge in number of luxury hotels, increase in hospitality sector, and diversification in culinary activities drive the growth of the global bespoke units market
PORTLAND, Oregon, Aug. 12, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "Bespoke Units Market by End User (High Production Kitchen, Starred Restaurants, Commercial Bars & Restaurants, and Premium Cafés): Opportunity Analysis and Industry Forecast, 2018-2025." According to the report, the global bespoke units market garnered $213.9 million in 2018, and is expected to reach $357.2 million in 2025, registering a CAGR of 7.6% from 2018 to 2025.
Surge in number of luxury hotels, increase in hospitality sector, and diversification in culinary activities drive the growth of the market. However, high cost of bespoke units restrains the market growth. On the other hand, technological advancements and effects of TVs & media create new opportunities in the industry.
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Starred restaurants segment to continue its leadership status by 2025
Based on end user, the starred restaurants segment accounted for the major market share in 2018, contributing more than two-fifths of the total share, and is estimated to continue its leadership status during the forecast period. This is due to high frequency in cross country travels and surge in disposable income of people. The premium cafes segment is expected to register the largest CAGR of 8.2% from 2018 to 2025. This is attributed to rise in affinity of consumers toward fast food and caffeinated drinks with changes in lifestyle.
France to maintain its dominant position throughout the forecast period
On the basis of country, France contributed the major market share in 2018, accounting for nearly one-fifth of the total share. This region would to maintain its dominant position throughout the forecast period. This is due to cultural preferences for food and wine, increase in number of food outlets, and rise of the transport and hospitality industry. However, Iberia is expected to register the fastest growth rate with a CAGR of 9.0% from 2018 to 2025, owing to rise in demand for cooked food from restaurants, premium food outlets, canteen, and hotels along with utilization of bespoke units for raising visual appeal and efficiency.
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Torchbearers of the market
Leading market players analyzed in the report are Molteni, Marrone, Maestro, and Athanor. The report offers insights on key strategies, product portfolio, pain point analysis, and overview of these market players.
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