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Food Service Equipment - Global Market Trajectory & Analytics

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    Report

  • 395 Pages
  • July 2022
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 5028113

FEATURED COMPANIES

  • Ali Group S.r.l.
  • Dover Corporation
  • Fujimak Corporation
  • Hubert Company, LLC
  • Middleby Corporation
  • The Vollrath Company, LLC

Global Food Service Equipment Market to Reach $38.6 Billion by 2026


Food service equipment denotes a plethora of equipment that are used in food service outlets to cater to their guests, and ranges from kitchen equipment as well as customer facing equipment, and serving equipment including tableware such as cutlery, crockery, glassware, and linen. While kitchen equipment serves to improve the efficiency of the kitchen, customer facing equipment enhances the ambience of the restaurant. Cooking is the primary function of a food service outlet, and hence cooking equipment accounts for the largest share of food service equipment. On the other hand, increased focus on proper storage of ingredients as well as the development of cold chain supplies, proper storage is gaining increasing focus. Moreover, regulatory mandates for food safety are also increasing investments in storage equipment. Rapid urbanization and changing consumer preferences are driving the proliferation of food service businesses, thus driving the market for food service equipment. In addition to the demand for equipment from new establishments, replacement demand also accounts for a significant share of the food service equipment market.

Amid the COVID-19 crisis, the global market for Food Service Equipment estimated at US$30.4 Billion in the year 2022, is projected to reach a revised size of US$38.6 Billion by 2026, growing at a CAGR of 5.4% over the analysis period. Cooking Equipment, one of the segments analyzed in the report, is projected to record a 5.7% CAGR and reach US$13.1 Billion by the end of the analysis period. After a thorough 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.

The U.S. Market is Estimated at $9.1 Billion in 2022, While China is Forecast to Reach $6.2 Billion by 2026


The Food Service Equipment market in the U.S. is estimated at US$9.1 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$6.2 Billion by the year 2026 trailing a CAGR of 7.4% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.8% and 5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.2% CAGR. By region, North America accounts for the largest share of the food service equipment market. The US alone is home to more than 100,000 restaurant chains, most of which have adopted modern kitchens or are mandated by regulation to adopt modern food service equipment. Moreover, the US is one of the largest markets for processed food and has stringent food service regulations, necessitating adoption of modern equipment. The increasing economic power, coupled with rapid urbanization in emerging markets is driving the food service industry, which in turn is propelling the food service equipment market. Asia-Pacific (including China) region is expected to offer the highest growth opportunities for food service equipment owing to the large population and growing economic clout of China and India.

Warewashing Equipment Segment to Reach US$6.6 Billion by the year 2026


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 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.

Select Competitors (Total 739 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

What`s New for 2022?

  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to the digital archives
  • Complimentary updates for one year
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.

FEATURED COMPANIES

  • Ali Group S.r.l.
  • Dover Corporation
  • Fujimak Corporation
  • Hubert Company, LLC
  • Middleby Corporation
  • The Vollrath Company, LLC

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Impact of Covid-19 and a Looming Global Recession
  • World Economic Growth Projections (Real GDP, Annual % Change) for 2019, 2020 & 2021
  • Impact on Food Service Industry
  • 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
  • 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
  • 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
  • World Food Service Equipment Market by Region (2020 & 2027): Percentage Breakdown of Revenues for Developed and Developing Regions
  • 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
  • Food Service Equipment - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
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
  • 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
  • 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
  • Global Online Food Delivery Services Market Size (in US$ Billion) for 2019, 2021, 2023 & 2025
  • 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
  • Global Market for Smartphones in Billions (2016-2021)
  • 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 PERSPECTIVEIII. MARKET ANALYSIS
UNITED STATES
  • Food Service Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
  • Severe Impact of COVID-19 Pandemic on the US Hospitality & Restaurant Industry Affects Food Service Equipment Market
  • 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
  • Penetration (%) of Online Food Delivery Market in the US by Restaurant-to-Consumer and Platform-to-Consumer Segments for 2017, 2019, 2021 and 2023
CANADA
JAPAN
  • Food Service Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)
CHINA
  • Food Service Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
EUROPE
  • Food Service Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
  • Impact of COVID-19 on the European Hotels and Hospitality Industry
  • Foodservice Industry Monthly Losses as % of Regular Revenues in Select European Countries due to COVID-19 Outbreak in 2020
FRANCE
  • Food Service Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)
GERMANY
  • Food Service Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)
ITALY
UNITED KINGDOM
  • Food Service Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)
SPAINRUSSIAREST OF EUROPE
ASIA-PACIFIC
  • Food Service Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
AUSTRALIA
  • Food Service Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2022 (E)
INDIA
  • Food Service Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)
  • COVID-19: Impact on the Indian Hotels and Hospitality Sector
SOUTH KOREAREST OF ASIA-PACIFIC
LATIN AMERICA
  • Food Service Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)
ARGENTINABRAZILMEXICOREST OF LATIN AMERICA
MIDDLE EAST
  • Food Service Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)
IRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EAST
AFRICA
  • Food Service Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)
IV. COMPETITION
  • Total Companies Profiled: 739

A selection of companies mentioned in this report includes:

  • 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