Commercial Foodservice Equipment Market in the US 2017-2021
About Commercial Foodservices Equipment
Commercial foodservice equipment help end-users to prepare, cook, serve, and handle various food and beverage items in commercial kitchens. The growth of this market in the US is driven by the growth of the foodservice market coupled with the strategic alliance between vendors. For instance, in November 2015, Blendtec entered into a partnership with Jamba Juice, a leading juice bar chain based in the US, to improve its operational efficiency and enhance customer experience. As a part of the agreement, Blendtec supplies a unique blender, Blendtec Stealth 875, which has been designed specifically to be installed in all Jamba Juice outlets.
Technavio’s analysts forecast the commercial foodservices equipment in the US to grow at a CAGR of 5.51% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the commercial foodservices equipment in the US for 2017-2021. To calculate the market size, the new models of foodservice equipment that are sold to various end-users such as restaurants, hotels, catering companies, and retail formats are being considered.
Technavio's report, Commercial Foodservices Equipment in The US 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Commercial Foodservices Equipment in The US 2017-2021
Technavio recognizes the following companies as the key players in the commercial foodservices equipment in the US: Manitowoc Foodservice, Illinois Tool Works, Middleby Corporation, and Standex International.
Other Prominent Vendors in the market are: Alto-Shaam, Anchor Packaging, Cambro Manufacturing, The Vollrath Company, San Jamar, Hatco, and Waring.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is growing focus on advanced technology. Consumers in the US are among the quickest adopters of advanced technologies. They also intend to replace their old CFSE with the advanced ones. Hence, the manufacturers of FSE in the country must effectively address the needs of the customers for innovative technologies.”
According to the report, one driver in market is increasing demand for energy-efficient equipment. The manufacturers of CFSE are focusing on providing energy-efficient technologies as end-users are looking for ways to reduce energy consumption. Energy-efficient equipment provide an opportunity to manufacturers to increase their profit margins. Owing to the increasing focus of end-users on cutting down energy consumption, many manufacturers are also trying to introduce new CFSE, which are more efficient than conventional ones. For instance, many commercial oven manufacturers are improving their products to obtain ENERGY STAR certification. The certified ovens are up to 20% more energy-efficient.
Further, the report states that one challenges in market is high installation cost and maintenance. Various commercial kitchens incur different costs to set up equipment. For instance, the cost of outfitting a commercial kitchen for a small foodservice establishment can usually be as low as $15,000 and as high as $150,000. Also, the setting up of ventilation and refrigeration equipment can incur more cost than that of some cooking equipment. Certain FSE that are used in various end-user segments incur high installation cost and require high maintenance. For instance, the initial installation of floor model electric fryer is high. Therefore, smaller foodservice establishments refrain from installing new equipment.
Manitowoc Foodservice, Illinois Tool Works, Middleby Corporation, Standex International, Alto-Shaam, Anchor Packaging, Cambro Manufacturing, The Vollrath Company, San Jamar, Hatco, and Waring.