Foodservices Equipment Market Report–Focus on the US: 2016 Edition
Foodservice equipment industry is a prominent segment of the foodservice industry. The growth in the number of restaurants, hotels, fast food joints have led to the development of the foodservice equipment industry. Foodservice equipments help in maintaining the sanitary and hygiene standards which is a pivotal factor in today’s environment and various rules are laid down by different food regulatory bodies in order to maintain and regulate the standards since hygiene has become a crucial issue in preserving good health.
The foodservice equipment industry in the US has benefitted from changing lifestyles of the people and the increasing tendency of the people to go out and eat. The demand of affordable dining is also expected to increase. There is enough space for innovation in the foodservice equipment market because as new consumers look to experiment with variety of brands and experiences and with the rising population and an increase in the working class population there is an increase in the innovative products launched by the companies.
The key factors driving the growth of the market are decreasing unemployment, increasing population, increasing number of restaurants, globalization and liberalization of global trade, growing hygiene and sanitation standards, increasing urbanization, improved economic growth and changing lifestyle of the working population. Some of the noteworthy trends and developments of this industry are growth of fast casual restaurants, trend of small size equipments, designing of energy efficient products and introduction of technologically advanced products. However, the expansion of foodservice equipment can be affected by effect of seasonal changes, risk associated with product development, increased competition, operating cost and labor issues and political instability.
The report “Foodservice Equipment Market- Focus on the US” provides an in-depth analysis of the market, with a focus on regional markets. The major trends, growth drivers as well as issues being faced by the industry are being presented in this report. The major players in the industry, Manitowoc Foodservice, Middleby, Illinois Tool works (ITW) and Rational are being profiled.