Food Service Equipment Market – Global Industry Analysis and Forecast (2023-2029)

Food Service Equipment Market was valued US$ 38.18 Bn in 2022 and is expected to reach US$ 47.56 Bn by 2029, at a CAGR of around 6.13 % during a forecast period.

The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.To know about the Research Methodology:-Request Free Sample Report
Food Service Equipment Market Dynamics:
One of the most popular trends in the food service industry nowadays is grab-and-go or takeaway food. Consumers are progressively preferring food service equipment to add suitability to manage with a fast-paced lifestyle. This alternative over conventional restaurants offers a higher and faster food convenience level. A rising trend of takeaway food among consumers in developed as well as developing countries is predicted to strengthen the market in fast-casual restaurant settings.

Furthermore, free Wi-Fi, online food ordering facility, digital menu boards and tables, and many more technological additions are being incorporated in the food service equipment market. Serving the generation Z consumers is the new challenge for the food service equipment industry, using customized food service equipment is a rising trend in the food service equipment market. However, high capital investment is the major restraint that could hamper the growth of the market.

According to the end-user, Full-service restaurant is projected to be the largest revenue generating segment over the forecast period. However, the market for the quick service is anticipated to expand at the highest CAGR of 6.13 % from 2022 to 2029. In modern quick service restaurants, fast food is prepared with greatly processed methods in bulk with standardized cooking procedures. This factor is predicted to drive the demand for cooking equipment in fast food services.
Regional Analysis:
Globally, North America accounted for the biggest share in 2022. Factors such as the wide adoption of technologically advanced products and high penetration of products have improved the growth in the region. It is followed by Asia-Pacific, which is anticipated to be the fastest growing region throughout the forecast period. The thriving tourism industry and huge dining out options for consumers are projected to propel the market growth in the region.

Report for global market includes of wide primary research together with the detailed analysis of qualitative as well as quantitative aspects by several industry experts, main opinion leaders to gain the deeper insight of the market and industry performance.In report gives the clear image of current market scenario which contains historical and projected market size in terms of value, technological advancement, macro economical and governing factors in the market. The report delivers details information and strategies of the top key players in the industry. The report also gives a comprehensive study of the different market segments and regions.

The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding global market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in global  market.
Food Service Equipment Market, Key Highlights:
Global Food Service Equipment Market analysis and forecast, in terms of value.

Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Food Service Equipment Market

Global market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.

The Global Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.

Global Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.

Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.

Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Food Service Equipment Market are also profiled.
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Food Service Equipment Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 37 Bn.


Forecast Period 2023 to 2029 CAGR:
6.13%
Market Size in 2029:
US $ 59.55 Bn.


 Segments Covered:
by Product
Cooking Equipment
Storage & Handling Equipment
Warewashing Equipment
Food & Beverage Preparation Equipment
Serving Equipment


by End User
Full-service Restaurants & Hotels
Quick-service Restaurants & Pubs
Caterings


by Sales Channel
Online
Offline



Food Service Equipment Market, by Region
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
North America (United States, Canada and Mexico)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Food Service Equipment Market Key Players are:
1. Cambro Manufacturing Co. Inc.
2. Castle Stove
3. Duke Manufacturing Co. Inc.
4. Dover Corporation
5. Electrolux
6. Illinois Tool Works Inc.
7. Ali S.p.A
8. Middleby Corporation
9. Welbilt, Inc.
10. Standex International Corporation
11. Hoshizaki America, Inc.
12. FUJIMAK CORPORATION
13. ITW FOOD EQUIPMENT
14. The Vollrath Company, LLC
15. Haier Inc.
16. Smeg S.p.A.
17. AB Electrolux
18. Comstock-Castle Stove Co., Inc.
19. Manitowoc Foodservice
20. Parth Kitchen Equipments
21. Berjaya Steel Product Sdn. Bhd
22. Shreemanek
23. Bharti Refrigeration Works
24. MJD Industries Inc
Frequently Asked questions
1. What is the market size of the Global Food Service Equipment Market in 2022?
Ans. The market size Global Food Service Equipment Market in 2022 was US$ 38.18 Billion.

2. What are the different segments of the Global Food Service Equipment Market?
Ans. The Global Food Service Equipment Market  is divided into Product and End User.

3. What is the study period of this market?
Ans. The Global Food Service Equipment Market will be studied from 2022 to 2029.

4. Which region is expected to hold the highest Global Food Service Equipment Market share?
Ans. The Asia Pacific dominates the market share in the  market.

5. What  is the Forecast Period of Global Food Service Equipment Market?
Ans. The Forecast Period of the market is 2023-2029 in the market.