The global food service equipment market was valued at $34,252.0 million in 2019, and is projected to reach $44,810.8 million by 2027, registering a CAGR of 5.7% from 2021 to 2027.
Food service equipment provide ease of food preparation, in addition to food safety in commercial kitchens. It consists of cookware and wash ware, and preparation, storage, & serving equipment, which are used to cook and preserve food products for commercial purposes.
These equipment are widely adopted in hotels, restaurants, commercial institutes, and budgetary hotels for preparation and storage of various cuisines. Rise in business-related travel and increase in number of food joints such as hotels & restaurants fuel the growth of the hospitality industry, which, in turn, drives the demand for food service equipment.
Increase in demand for refrigerated food products and inclination toward junk food boosts the adoption of food service equipment worldwide. Moreover, shift toward modular kitchens with advanced features also propels the demand for cooking food service equipment.
Furthermore, a The rise in the number of cafés & restaurants along with surge in demand for multi-functional, space & time saving equipment propel the growth of the food service equipment market. Implementation of stringent government regulations toward refrigerant leakages and emissions in last few years further drives the market toward replacement of products, as companies replace their existing equipment with new energy-efficient devices.
However, the high capital investment and complexities associated with the usage of these equipment restrict the market growth. Nevertheless, advancements in technology such as robotics is likely to bring new opportunities for the food service equipment market during the forecast period.
The global food service equipment market is segmented based on product type, end-use, and region. On the basis of product type, the market is divided into cooking equipment, warewashing equipment, storage & holding equipment, food & beverage preparation equipment, and serving equipment.
By end-use, the market is categorized into Full-service Restaurant & Hotel, quick-service restaurants & pubs, and catering. Based of the region, the market is analyzed across North America, Europe, Asia-Pacific and LAMEA. The major players profiled in this report include Duke Manufacturing Co. Inc., Electrolux, Dover Corporation, Illinois Tool Works (ITW), Inc., Ali Group S.r.l. a Socio Unico, Welbilt, Inc., Middleby Corporation, Alto-Shaam, Inc., Comstock-Castle Stove Co., Inc., and Cambro Manufacturing Co. Inc.
Key Benefits for Stakeholders
Key Market Segments
By Product Type
By End-use
By Region
Food service equipment provide ease of food preparation, in addition to food safety in commercial kitchens. It consists of cookware and wash ware, and preparation, storage, & serving equipment, which are used to cook and preserve food products for commercial purposes.
These equipment are widely adopted in hotels, restaurants, commercial institutes, and budgetary hotels for preparation and storage of various cuisines. Rise in business-related travel and increase in number of food joints such as hotels & restaurants fuel the growth of the hospitality industry, which, in turn, drives the demand for food service equipment.
Increase in demand for refrigerated food products and inclination toward junk food boosts the adoption of food service equipment worldwide. Moreover, shift toward modular kitchens with advanced features also propels the demand for cooking food service equipment.
Furthermore, a The rise in the number of cafés & restaurants along with surge in demand for multi-functional, space & time saving equipment propel the growth of the food service equipment market. Implementation of stringent government regulations toward refrigerant leakages and emissions in last few years further drives the market toward replacement of products, as companies replace their existing equipment with new energy-efficient devices.
However, the high capital investment and complexities associated with the usage of these equipment restrict the market growth. Nevertheless, advancements in technology such as robotics is likely to bring new opportunities for the food service equipment market during the forecast period.
The global food service equipment market is segmented based on product type, end-use, and region. On the basis of product type, the market is divided into cooking equipment, warewashing equipment, storage & holding equipment, food & beverage preparation equipment, and serving equipment.
By end-use, the market is categorized into Full-service Restaurant & Hotel, quick-service restaurants & pubs, and catering. Based of the region, the market is analyzed across North America, Europe, Asia-Pacific and LAMEA. The major players profiled in this report include Duke Manufacturing Co. Inc., Electrolux, Dover Corporation, Illinois Tool Works (ITW), Inc., Ali Group S.r.l. a Socio Unico, Welbilt, Inc., Middleby Corporation, Alto-Shaam, Inc., Comstock-Castle Stove Co., Inc., and Cambro Manufacturing Co. Inc.
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the current trends, estimations, and dynamics of the global food service equipment market from 2019 to 2027 to identify the prevailing market opportunities.
- The report provides an extensive analysis of the current and emerging food service equipment market trends and opportunities.
- The report provides detailed qualitative and quantitative analysis of the current trends and future estimations that help evaluate the prevailing food service equipment market opportunities in the market.
- The food service equipment market forecast is offered along with information related to key drivers, restraints, and opportunities.
- The market analysis is conducted by following key product positioning and monitoring the top competitors within the market framework.
- The report provides extensive qualitative insights on the potential segments or regions exhibiting favorable growth.
Key Market Segments
By Product Type
- Cooking Equipment
- Storage & Handling Equipment
- Warewashing Equipment
- Food and Beverage Preparation Equipment
- Serving Equipment
By End-use
- Full-Service Restaurants & Hotels
- Quick-Service Restaurants & Pubs
- Caterings
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- UAE
- South Africa
- Rest of LAMEA
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: FOOD SERVicE EQUIPMENT MARKET, BY PRODUCT
CHAPTER 5: FOOD SERVicE EQUIPMENT MARKET, BY END USE
CHAPTER 6: FOOD SERVicE EQUIPMENT MARKET, BY REGION
CHAPTER 7: COMPANY LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report titled, 'Food Service Equipment Market by Product Type and End Use: Opportunity Analysis and Industry Forecast, 2020-2027,” The global food service equipment market size was valued at $34.2 billion in 2019, and is projected to reach $56.3 billion by 2027, registering a CAGR of 6.2% from 2020 to 2027.Food service equipment provides the ease of food preparation, in addition to food safety in the commercial kitchens. Products such as refrigerators & freezers, display cabinets, cutlery, and bakery oven are offered by prime companies, ensuring premium quality and low maintenance cost. Moreover,these equipment are necessary for providing food & beverage services by commercial kitchens including restaurants, hotels, and quick service restaurants.Development of the hospitality industry is anticipated to drive the food service equipment market growth. Moreover, rise in business related travel, surge in urban population, and rise in number of food joints such as hotels and restaurants fuel the growth of the hospitality industry, there by driving the growth of the food service equipment market. Change in food habits and busy lifestyle of consumers have led to increase in demand for ready-to-eat meals. Rapid changes in the supporting factors such as disposable income, consumer preferences, increase in working women population, and digitization have resulted into rise in number of quick-service, pop & shop, and other types of restaurants. Moreover, changes in trends of food consumption and growth in need to reduce food wastage have led to the development of innovative kitchen equipment. These factors are anticipated to drive the growth of the food service equipment market during the forecast period.
Moreover, continuous developments in cooling technologies and favorable government regulations to promote the production of eco-friendly refrigerators & ovens are expected to open new avenues for food service equipment manufacturers. However, higher installation cost is anticipated restrain their adoption, particularly in developing regions. In addition, rise in demand for visually appealing food service equipment among restaurants and hotels fuels the growth of the food service equipment market.
Further more ,new equipment featuring brighter colors, sleek designs, and shiny touch screens, are in trend in the food service industry. Another trend in food service equipment is multi-functional equipment. Due to space constraints, many restauranteurs tend to utilize equipment that could provide multiple functions and save kitchen space.Moreover, food service equipment like rapid cook ovens that feature several cooking methods for preparing variety of foods are in trend. For example, the double batch ventless impingement oven from Turbo Chef consists of two independently controlled high-speed ovens with oscillating racks, which reduces cooking time and facilitates the preparation of more food. Moreover, each oven can be controlled with a split-screen, Wi-Fi connected touch controller. Thus, making these IOT, multi-functional equipment popular in food service industry.
The global food service equipment market segments are categorized into product type, end use, and region. By product type, it is classified into cooking equipment, storage & handling equipment ,food & beverage preparation equipment, ware washing equipment, and serving equipment. By end use, food service equipment market is divided into full-service restaurants and hotels, quick service restaurants, and catering. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Australia, Japan, and rest of Asia-Pacific), and LAMEA (Brazil, UAE, South Africa and Rest of LAMEA).
Key findings of the study
By product type, the cooking equipment segment accounted for the highest food service equipment market share in 2019, growing at a CAGR of 5.8% from 2020 to 2027.
By end use, the full-service restaurants and hotels segment occupied maximum share in the market in 2019 and is expected to dominate during food service equipment market analysis period.
Region wise, North America accounted for a CAGR of 35.1% in 2019 and is expected to grow at a CAGR of 4.6% during the food service equipment forecast period.
The key players operating in the food service equipment industry in clude Duke Manufacturing Co. Inc, Electrolux, Dover Corporation,Illinois Tool Works (ITW), Inc. ,Ali Group S.r.l. a Socio Unico,Welbilt, Inc,Middleby Corporation,Alto-Shaam, Inc.,Comstock-Castle Stove Co., Inc.,and Cambro Manufacturing Co. Inc.
Companies Mentioned
- Duke Manufacturing Co. Inc
- Electrolux
- Dover Corporation
- Illinois Tool Works (ITW) Inc.
- Ali Group S.r.l. a Socio Unico
- Welbilt Inc.Middleby Corporation
- Alto-Shaam Inc.
- Comstock-Castle Stove Co. Inc.
- Cambro Manufacturing Co. Inc
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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