Food Service Equipment Market by Product (Cooking Equipment, Storage & Handling Equipment, Warewashing Equipment, Food & Beverage Preparation Equipment, and Serving Equipment) and End Use (Full-service Restaurants & Hotels, Quick-service Restaurants & Pubs, and Caterings) - Global Opportunity Analysis and Industry Forecast, 2018-2025
The global food service equipment market was valued at $31,088 million in 2017, and is projected to reach $50,039 million by 2025, registering a CAGR of 6.4% from 2018 to 2025. Food service equipment comprise cookware; 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 of various cuisines. Rise in business-related travel and increase in number of food joints such as hotels & restaurants fuel the growth of hospitality industry, which in turn further drives the demand for food service equipment.
Increase in demand for refrigerated food products and inclination towards junk food have boosted the adoption of food service equipment worldwide. Moreover, shift to modular kitchens with advanced features has boosted the demand for cooking food service equipment. Furthermore, rise in number of cafÃ©s & restaurants, development in urban infrastructure in both developed & developing countries, and increase in disposable income are the factors contributing towards the gradual growth of the food service equipment market. Implementation of stringent government regulations towards refrigerant leakages and emission in the last few years has further driven the market towards replacement products, as the companies need to replace their existing equipment with new energy-efficient devices. However, high capital investment and complexities associated with the usage of equipment restrict the market growth.
The 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. Increase in investments in hotel & restaurant industry, surge in demand for ready-made food, and vast varieties in food products offered by these hotels have contributed to the significant growth of these equipment. The storage & handling equipment segment is expected to grow at a fastest CAGR of 7.5%.
By end-use, the market is categorized into full-service restaurants & hotels, quick-service restaurants & pubs, and caterings. Quick-service restaurants and pubs are expected to grow at a highest CAGR of 8.5%, due to convenience offered by them and increase in demand for fast food. Region wise, the market is analyzed across North America, Europe, Asia-Pacific and LAMEA.
The major players profiled in this report include Alto-Shaam, Inc., Cambro Manufacturing Co. Inc., Castle Stove, Duke Manufacturing Co. Inc., Dover Corporation, Electrolux, Illinois Tool Works Inc., Ali S.p.A, The Middleby Corporation, and Welbilt, Inc.
This report provides a quantitative analysis of the current trends, estimations, and dynamics of the global food service equipment market from 2017 to 2025 to identify the prevailing market opportunities.
The key countries in all the major regions are mapped based on their market share.
Porterâ€™s Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplierâ€“buyer network.
In-depth analysis of the market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global industry.
Market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of market players.
The report includes the analysis of the regional as well as global market, key players, market segments, application areas, and growth strategies.
KEY MARKET SEGMENTS
By Product Type
Storage and Handling Equipment
Food and Beverage Preparation Equipment
Full-Service Restaurants and Hotels
Quick-Service Restaurants and Pubs
Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA
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