Increased demand for temperature-controlled storage for food along with the surge in a number of restaurants are key factors driving the food service equipment market growth.

The Food Service Equipment Market is expected to grow at a CAGR of 8.9% from 2021-2030, according to a new research report by Next Move Strategy Consulting.

Food service equipment is used for the preparation or storage of food in restaurants and other commercial establishments. This equipment is increasingly getting popular in commercial kitchens due to the need for preparing and storing bulk amounts of food daily. Also, the rising number of pubs, restaurants, and cloud kitchens are among the other factors expected to drive the market growth. Additionally, changing food habits as well as various developments taking place in the hospitality industry are also contributing towards the growth of the market.  However, the high cost of this equipment is expected to restrict the market growth within the forecast period to some extent.

On the basis of type, the market is segmented into cooking equipment, storage and handling equipment, ware washing equipment, food and beverage preparation equipment, and serving equipment. On the basis of end users, the market is segmented into full-service restaurants and hotels, quick-service restaurants and pubs, and catering.  Based on geography the market is segmented into North America, Europe, Asia Pacific, and RoW. 

Geographically, North America is anticipated to hold the lion's share of the market due to the early adoption of advanced kitchen equipment along with the growing demand for processed food. Also, other factors such as developed infrastructure and technological advancements over time will further add revenue to the market in this region. However, the Asia-Pacific region is anticipated to show rapid market growth within the forecast period owing to factors such as a surge in demand for changing lifestyles and food habits are expected to contribute towards the market growth.

Browse through the full report: Food Service Equipment Market by Product Type (Cooking Equipment, Storage & Handling Equipment, Ware Washing Equipment, Food & Beverage Preparation Equipment and Serving Equipment) and End Use (Full-Service Restaurants & Hotels, Quick Service Restaurants & Pubs, and Catering): Global Opportunity Analysis and Industry Forecast, 2020–2030

According to the report, some of the key players in the market are Cambro Manufacturing Co. Inc., Alto-Shaam, Inc., Duke Manufacturing Co. Inc., Castle Stove, Electrolux, Dover Corporation, Ali S.p.A, Illinois Tool Works Inc., Welbilt, Inc., and Middleby Corporation among others.

Key Insights from the Food Service Equipment Market Report:

• Current and emerging trends along with opportunities are extensively analyzed in the food service equipment market report.

• The forecast of the food service equipment market comes along with additional information associated with opportunities, restraints, and key drivers in the market.

The report food service equipment market – is segmented by product type, end-user, and geography.

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