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Catering Equipment Market Report 2011
Key Note Publications Ltd, May 2011, Pages: 104
The UK catering market was worth around £620m at manufacturers’ selling prices (msp) in 2010, representing a recovery in the market of 3.3%. This follows 2 years of negative growth, which can be blamed on the recession.
Key Note divides the catering equipment market into five main sectors: cooking equipment, food-handling equipment, food-preparation equipment, refrigeration equipment, and other catering equipment. These products range in usage from storing, preparing, displaying and serving food, to washing food, utensils and crockery. It is the food-handling and cooking equipment segments of the market that are the largest.
After a disappointing 2008 and 2009, the market returned to growth in 2010 following an increase in consumer expenditure on eating out, which had previously been in decline. Greater amounts of money spent in restaurants is likely to be good news for the catering equipment market. Furthermore, sectors that were not as badly affected by the recession include fast-food and quick-service outlets, which offered consumers cheaper options and thus prospered. These outlets are using this prosperity to expand rapidly within the UK, increasing demand for equipment.
Further volume increases in 2010 can be attributed to the trend towards products with greater environmental credentials; these can save catering outlets significant sums of money and energy. Environmental considerations can be seen as a driver of innovation in recent years.
However, it is not just an increase in volume sales that has led to the market’s growth; rising commodity prices (particularly that of stainless steel, a major component in catering equipment) — as well as increases in labour and energy costs — have meant that the equipment itself is becoming more expensive to manufacture.
The market continues to be dominated by large, global conglomerates — the likes of Swedish giant AB Electrolux competes with the Middleby Corporation of the US and the Italian manufacturing giant Ali SpA. This has consolidated the UK market considerably where it had previously been fragmented.
Key Note predicts that, as the economy continues to recover, there is likely to be a corresponding recovery in people frequenting catering outlets.
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