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Food Service Equipment - Global Market Trajectory & Analytics

  • ID: 5028113
  • Report
  • January 2021
  • Region: Global
  • 331 pages
  • Global Industry Analysts, Inc
Global Food Service Equipment Market to Reach US$ 40.9 Billion by the Year 2027

Amid the COVID-19 crisis, the global market for Food Service Equipment estimated at US$ 28.2 Billion in the year 2020, is projected to reach a revised size of US$ 40.9 Billion by 2027, growing at a CAGR of 5.4% over the analysis period 2020-2027.Cooking Equipment, one of the segments analyzed in the report, is projected to grow at a 5.7% CAGR to reach US$ 13.1 Billion by the end of the analysis period.After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Storage & Handling Equipment segment is readjusted to a revised 6% CAGR for the next 7-year period. This segment currently accounts for a 25.4% share of the global Food Service Equipment market.



The U.S. Accounts for Over 30% of Global Market Size in 2020, While China is Forecast to Grow at a 7.4% CAGR for the Period of 2020-2027

The Food Service Equipment market in the U.S. is estimated at US$ 8.5 Billion in the year 2020. The country currently accounts for a 30.02% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$ 6.7 Billion in the year 2027 trailing a CAGR of 7.4% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.8% and 5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.2% CAGR while Rest of European market (as defined in the study) will reach US$ 6.7 Billion by the year 2027.

Warewashing Equipment Segment Corners a 17.2% Share in 2020

In the global Warewashing Equipment segment, USA, Canada, Japan, China and Europe will drive the 4.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$ 4 Billion in the year 2020 will reach a projected size of US$ 5.5 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$ 4.8 Billion by the year 2027, while Latin America will expand at a 6.4% CAGR through the analysis period. The publisher brings years of research experience to this 9th edition of the report. The 289-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

Select Competitors (Total 88 Featured):
  • Ali Group S.r.l.
  • Alto-Shaam Inc.
  • Cambro Manufacturing Co. Inc.
  • Comstock-Castle Stove Co., Inc.
  • Dover Corporation
  • Duke Manufacturing Co.
  • Electrolux Professional, Inc.
  • Fujimak Corporation
  • Hoshizaki Corporation
  • Hubert Company, LLC
  • Illinois Tool Works Inc.
  • Middleby Corporation
  • Smeg S.p.A.
  • The Vollrath Company, LLC
  • Welbilt Corporation

The global analysis and forecast periods covered within the report are 2020-2027 (Current & Future Analysis) and 2012-2019 (Historic Review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.
Note: Product cover images may vary from those shown
I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • Impact of Covid-19 and a Looming Global Recession
  • EXHIBIT 1: World Economic Growth Projections (Real GDP, Annual % Change) for 2019, 2020 & 2021
  • Impact on Food Service Industry
  • EXHIBIT 2: Food Service Industry Hit Hard by the COVID-19 Pandemic: YoY Change (in %) in Number of Daily Seated Diners at Restaurant due to Outbreak during February-July 2020
  • Pandemic Brings About Massive Changes in Consumers’ Dine Out Preferences
  • Food Service Operators Adapting to Changing Consumers’ Behaviors
  • Food Service Equipment: An Overview and Outlook
  • EXHIBIT 3: World Food Service Equipment Market by Product Segment (2020 & 2027): Percentage Breakdown of Revenues for Cooking Equipment, Storage & Handling Equipment, Warewashing Equipment, Food & Beverage Preparation Equipment, and Other Products
  • COVID-19 Affects Demand for Food Service Equipment
  • Analysis by End-Use: Quick Service Restaurants & Pubs to Exhibit Fastest Growth
  • EXHIBIT 4: World Food Service Equipment Market by End-Use (2020 & 2027): Percentage Breakdown of Revenues for Full-Service Restaurants & Hotels, Quick-Service Restaurants & Pubs, and Other End-Uses
  • Regional Analysis: United States Represents the Largest Region
  • EXHIBIT 5: World Food Service Equipment Market by Region (2020 & 2027): Percentage Breakdown of Revenues for Developed and Developing Regions
  • EXHIBIT 6: World Food Service Equipment Market - Geographic Regions Ranked by CAGR (Revenues) for 2020-2027: China, Asia-Pacific, Latin America, Middle East, Africa, USA, Canada, Europe, and Japan
  • Competitive Scenario
  • Recent Market Activity
  • Select Advancements by Innovators
  • Select Global Brands
2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS
  • Foodservice Industry Trends with Potential Influence on Equipment Market
  • Compact & Customizable Equipment in Demand
  • Energy Efficiency & Sustainability Become More Relevant
  • Equipment with Training Features
  • Emergence of Single-Service Coffee Brewers & Display Cases
  • Innovative Touchless Options
  • Growth of Quick Service Restaurants Drives Demand
  • EXHIBIT 7: Global Fast Food & Quick Service Restaurant Market Size (in US$ Billion) for 2019, 2022 & 2025
  • Dynamics of Foodservice Outlets and Restaurants Augment Market Prospects
  • Changing Food Habits and Trend towards Eat-Out Bodes Well
  • EXHIBIT 8: World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100
  • Healthy Gains in Third Party Online Food Delivery Services & Mobile Apps Drive the Demand
  • EXHIBIT 9: Global Online Food Delivery Services Market Size (in US$ Billion) for 2019, 2021, 2023 & 2025
  • EXHIBIT 10: Global Online Food Delivery Market Breakdown by Platform-to-Consumer Delivery and Restaurant-to-Consumer Delivery for 2017 and 2020
  • The Online Food Delivery Edge
  • Smartphone Penetration & Internet Connectivity Fuel Online Food Delivery Services
  • EXHIBIT 11: Global Market for Smartphones in Billions (2016-2021)
  • EXHIBIT 12: Number of Internet Users (in Billion) and Internet Penetration Rate (in %) for the Years 2015 through 2019
  • Management Systems for Food Safety Gain Traction
  • Automated & Robotic Equipment to Foray into Food Service Sector
  • IoT Seeks Role in Food Service Industry
  • Kitchen Display Systems Come to the Fore
  • Smart Ovens and Cook & Hold Ovens to Make Gains
  • Common Problems Associated with Food Grade Equipment
4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS
  • GEOGRAPHIC MARKET ANALYSIS
  • UNITED STATES
  • Severe Impact of COVID-19 Pandemic on the US Hospitality & Restaurant Industry Affects Food Service Equipment Market
  • EXHIBIT 13: US Food-Away-From-Home Market by Type of Outlet for 2010-2019
  • Turning Calamity into Opportunity
  • Technology- the Way Forward
  • Robust Growth in Online Food Delivery Services: A Key Challenge for Traditional Equipment
  • EXHIBIT 14: Penetration (%) of Online Food Delivery Market in the US by Restaurant-to-Consumer and Platform-to-Consumer Segments for 2017, 2019, 2021 and 2023
  • Market Analytics
  • CANADA
  • JAPAN
  • CHINA
  • EUROPE
  • Impact of COVID-19 on the European Hotels and Hospitality Industry
  • EXHIBIT 15: Foodservice Industry Monthly Losses as % of Regular Revenues in Select European Countries due to COVID-19 Outbreak in 2020
  • Market Analytics
  • FRANCE
  • GERMANY
  • ITALY
  • UNITED KINGDOM
  • SPAIN
  • RUSSIA
  • REST OF EUROPE
  • ASIA-PACIFIC
  • AUSTRALIA
  • INDIA
  • COVID-19: Impact on the Indian Hotels and Hospitality Sector
  • Market Analytics
  • SOUTH KOREA
  • REST OF ASIA-PACIFIC
  • LATIN AMERICA
  • ARGENTINA
  • BRAZIL
  • MEXICO
  • REST OF LATIN AMERICA
  • MIDDLE EAST
  • IRAN
  • ISRAEL
  • SAUDI ARABIA
  • UNITED ARAB EMIRATES
  • REST OF MIDDLE EAST
  • AFRICA
IV. COMPETITION
  • Total Companies Profiled: 98
Note: Product cover images may vary from those shown
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