Industry: Retail and Consumer | Publish Date: 12-May-2021 | No of Pages: 552 | No. of Tables: 316 | No. of Figures: 286 | Format: PDF | Report Code : N/A
The global Food Service Equipment Market was valued at USD 23.65 billion in 2020 and is predicted to reach USD 53.78 billion by 2030 with a CAGR of 8.9% from 2021-2030.
Food service equipment is used in commercial kitchens for the preparation and storage of food in large quantities, which not only saves time and money but also reduces operational costs. This includes different types of equipment such as ovens, refrigerators, freezers, grills, and many others. Food service equipment is also used to complement the theme and improve the aesthetic appearance of the outlet thereby enhancing the guest experience. This equipment plays a vital role in the food service industry for preparing and serving a variety of food items and is extremely popular in hotels and other full-service restaurants. They differ depending on the type of hospitality businesses and their requirements.
At present, the surge in the use of temperature-controlled equipment to store perishable food products is expected to drive the food service equipment market growth. Also, the constant demand for multipurpose, efficient, and cost-effective food service equipment to cater to the rising consumption of processed food all over the world is among the other factors expected to propel the market growth in future. Additionally, the growing online food service industry and the introduction of technologically advanced kitchen equipment are driving the growth of this market. Moreover, the evolution of smart kitchens, cloud kitchens, and other such establishments is contributing to the market growth. However, the high cost of food service equipment is expected to restrain the market growth during the forecast period.
The global food service equipment market report is segmented on the basis of product type, end user, and geography. On the basis of product 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 user, 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.
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 in this region. Other factors such as the rising working population and the popularity of fast food are also contributing to the market growth.
However, the Asia-Pacific region is predicted to show rapid and consistent growth in terms of market share within the forecast period owing to the presence of major economies such as China, India, and Japan among others. Also, the improving standard of living in these countries has resulted in the expansion of hotels and restaurants, which in turn propels the food service equipment market growth in this region.
Lucrative growth opportunities make the food service equipment industry extremely competitive. Some of the major 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. Strategic alliances, acquisitions, innovations and R&D are key strategies adopted by market players to maintain market dominance. For instance, in November 2019, Middleby Corporation has acquired Brava Home Inc. as Middleby continues to focus on the most progressive technologies.
The food service equipment report provides a quantitative analysis of the current market and estimations through 2020-2030 that assist in identifying the prevailing market opportunities to capitalize on
The study comprises a deep dive analysis of the food service equipment market trend including the current and future trends for depicting the prevalent investment pockets in the market
The information related to key drivers, restraints and opportunities and their impact on the food service equipment market is provided in the report.
The market share of the players in the global food service equipment market along with their competitive analysis.
Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.
Cooking equipment
Grills
Fryers
Ovens
Cooking & Bakery Utensils
Storage and Handling Equipment
Refrigeration
Food Bags and Containers
Food Warmers
Ware Washing Equipment
Utensil Washers
Dishwashers
Booster Heaters
Others
Food and Beverage Preparation Equipment
Slicers
Peelers
Mixers, Blenders, & Grinders
Food Processors & Juicers
Food Preparation Tools
Serving Equipment
Dinnerware
Glassware
Full Service Restaurants and Hotels
Quick Service Restaurants and Pubs
Catering
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
Rest of Asia-Pacific
RoW
Brazil
UAE
South Africa
Remaining Countries
REPORT SCOPE AND SEGMENTATION
Parameters |
Details |
Analysis Period |
2020–2030 |
Base Year Considered |
2020 |
Forecast Period |
2021–2030 |
Market Size Estimation |
Billion (USD) |
Market Segmentation |
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) |
Geographical Segmentation |
North America (U.S., Canada, Mexico) Europe (UK, Germany, Italy, France, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), Rest of the World (Brazil, UAE, South Africa, Remaining Countries) |
Companies Profiled |
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 |
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.
Middleby Corporation