Food Service Equipment

Global Food Service Equipment Market to Reach US$49.2 Billion by 2030

The global market for Food Service Equipment estimated at US$34.0 Billion in the year 2024, is expected to reach US$49.2 Billion by 2030, growing at a CAGR of 6.3% over the analysis period 2024-2030. Cooking Equipment, one of the segments analyzed in the report, is expected to record a 6.6% CAGR and reach US$15.9 Billion by the end of the analysis period. Growth in the Storage & Handling Equipment segment is estimated at 7.0% CAGR over the analysis period.

The U.S. Market is Estimated at US$10.1 Billion While China is Forecast to Grow at 8.3% CAGR

The Food Service Equipment market in the U.S. is estimated at US$10.1 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$8.4 Billion by the year 2030 trailing a CAGR of 8.3% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 4.5% and 5.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.9% CAGR.

Global Food Service Equipment Market - Key Trends & Drivers Summarized

Food service equipment encompasses a broad range of tools and machinery essential for the efficient operation of commercial kitchens and food service establishments. These include cooking appliances such as ovens, grills, and fryers, as well as refrigeration units, dishwashers, food preparation tools, and storage solutions. Modern food service equipment is designed to enhance the speed and quality of food preparation, ensuring that meals are served hot, fresh, and in a timely manner. Innovations in this sector have led to the development of energy-efficient and multifunctional appliances that cater to the diverse needs of restaurants, hotels, cafeterias, and catering services. The integration of smart technology into food service equipment has revolutionized kitchen operations, providing real-time monitoring and control over various processes, thereby reducing waste and improving overall efficiency.

Key trends in the food service equipment market highlight a significant shift towards sustainability and automation. As environmental concerns grow, there is an increasing demand for eco-friendly equipment that minimizes energy consumption and reduces carbon footprints. Manufacturers are responding by producing equipment with advanced energy-saving features and using recyclable materials. Additionally, the rise of automated kitchen solutions, including robotic chefs and automated ordering systems, reflects the industry`s adaptation to labor shortages and the need for consistency in food quality. These advancements not only streamline operations but also enhance the customer dining experience by ensuring faster service and precise food preparation. The trend towards customization and flexibility in equipment design allows establishments to tailor their kitchen layouts and operations to meet specific culinary needs and consumer preferences.

The growth in the food service equipment market is driven by several factors. Rapid urbanization and changing consumer preferences are driving the proliferation of food service businesses, driving demand 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. The health scares in the recent past have driven the focus of regulators on food safety, necessitating investments in new and advanced equipment. In addition, the focus on energy efficiency to fight against greenhouse gas emissions is also driving replacement demand for food service equipment.  Technological advancements play a significant role, with innovations such as IoT-enabled devices and smart kitchen solutions enhancing operational efficiency and offering predictive maintenance capabilities. The increasing popularity of food delivery services and the proliferation of cloud kitchens necessitate specialized equipment designed for high-volume, rapid food preparation and delivery. Consumer behavior also influences market growth, as there is a rising preference for dining out and experiencing diverse culinary options, prompting restaurants to invest in advanced equipment to meet customer expectations. Furthermore, stringent food safety regulations and standards compel food service operators to upgrade to equipment that ensures compliance and enhances hygiene. These factors collectively contribute to the dynamic expansion of the food service equipment market, positioning it for continued growth and innovation.

SCOPE OF STUDY:

The report analyzes the Food Service Equipment market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Product (Cooking Equipment, Storage & Handling Equipment, Warewashing Equipment, Food & Beverage Preparation Equipment, Other Products); End-Use (Full-Service Restaurants & Hotels, Quick-Service Restaurants & Pubs, Other End-Uses)

Geographic Regions/Countries:
World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

Select Competitors (Total 739 Featured) -

• AB Electrolux
• Dover Corporation
• Duke Manufacturing Co.
• Fagor Industrial, S.Coop.
• Hubert Company, LLC
• Hoshizaki Corp.
• Kiremko BV
• Marel
• The Middleby Corporation
• Smeg S.p.A.

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

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