The market for foodservice equipment is made up of global players based in the U.S., Europe, and Japan. Even with the global recession, the $20 billion market for foodservice equipment is strong; growth of the $10 billion+ market in the U.S. outpaces the nation’s GDP growth rate. Industry growth is driven by operators’ need to replace existing equipment and the technological and energy efficiency advantages of today’s new equipment.
In addition to the economy, the foodservice equipment industry has seen several notable acquisitions in the past few months and years, which may have a dramatic impact on all sectors: preparation equipment, cooking ovens and ranges, refrigeration, ice and beverage dispensing, and warewashing. These include Manitowoc’s acquisition of Enodis, Ali Group’s acquisition of Aga’s commercial foodservice equipment business, and Middleby’s acquisition of Turbochef.
Environmental factors are important to foodservice operators and foodservice equipment manufacturers. Purchase decisions increasingly driven by the need for energy efficiency and pollution reduction - which impact the bottom line, companies’ images, and consumer perceptions. Existing and potential legislation and regulation - whether local, regional, national, or international - also affects “green” considerations.
The array of foodservice operators is broader than ever, offering more sophisticated and varied options for meals prepared outside the home. Commercial foodservice venues include not just restaurants (stand-alone or part of hotels, casino’s, etc.), but sports stadiums and arenas, museums, family entertainment parks, and more. Supermarkets and convenience stores offer prepared meals - part of the booming home meal replacement concept. Non-commercial foodservice operators serve healthcare, senior care, educational, corrections, and military clientele.
The information in Foodservice Equipment is based on primary and secondary research. Primary research entailed interviews with industry participants, from companies, associations, and trade publications, to obtain information on industry and product issues and trends. Secondary research entailed data gathering from relevant sources, including industry, business, and general interest publications, newspapers, government reports, company web sites, and corporate annual reports. Consumer demographics are derived from Simmons Market Research Bureau data.
What You’ll Get in This Report
Foodservice Equipment makes important predictions and recommendations regarding the future of this market, and pinpoints ways current and prospective players can capitalize on current trends and spearhead new ones. No other market research report provides both the comprehensive analysis and extensive data that Foodservice Equipment offers. Plus, you’ll benefit from extensive data, presented in easy-to-read and practical charts, tables and graphs.
How You’ll Benefit from This Report
If your company is already doing business in the foodservice equipment market, or is considering making the leap, you will find this report invaluable, as it provides a comprehensive package of information and insight not offered in any other single source. You will gain a thorough understanding of the current market for Hispanic foods and beverages, as well as projected markets and trends through 2013.
This report will help:
Market Insights: A Selection From The Report
Technology as a Differentiator
In addition to their expertise and design sophistication, landscapers’ use of technology sets them apart from competitors and the general public. Landscape architects use computeraided design graphic software to draft their designs.
Landscape architects use geographic information systems (GIS) technology, a computer mapping system, as a tool for large-scale designs.
Video simulation and imaging help clients visualize design plans. Digital previews show what the end product will look like.
Technology is not just a tool, but also a part of the installations. Sophisticated timers manage decorative lighting and water features. Remote control is a given for entertainment features.
High-level technology is used in irrigation systems, transmitting weather reports from satellites to on-site control boxes that control timing an amount of irrigation.
Landscaping for Security
Landscaping, residential and nonresidential alike, can foster and provide a sense of security against a number of threats. Landscaping includes aesthetics in designs to protect property from break-ins, fire- or weather-related, or even terrorism.
Many businesses, government buildings, and schools require standoff areas to protect both the building and its inhabitants. Far from simple and obvious concrete barriers, landscaping integrates security into the building and property design.
In recent years, wildfires have had a devastating effect on properties in the western U.S. Landscapers and government agencies have called on residents to consider how gardens can help increase the chances of their homes surviving a wildfire. Well-planned landscaping can disrupt the natural path of a fire, account for wind conditions, and reduce fuel for a fire to burn.
Landscapers identify and install fire-resistant plants, consider size and overhang of branches, ensure plants are sited safely, use driveways and walkways as fuel breaks, and provide guidance and/or services for care and maintenance.
Market Insights: A Selection From The Report
Imports of Foodservice Cooking & Food-Warming Equipment
The U.S. imports two large categories of foodservice cooking equipment, characterized by the government as microwave ovens and equipment for cooking or heating food. Cooking equipment for commercial/industrial and domestic use are distinguished in the U.S. Harmonized Tariff Schedule, with codes that note “of a kind used for domestic purposes” in the case of microwave ovens and “of a type used in restaurants, hotels or similar locations” in the case of equipment “for making hot drinks or for cooking or heating food.”
The U.S. imported $377 million of foodservice cooking equipment in 2008. The top four countries from which the United States imported foodservice cooking equipment in 2008 (and for the first five months of 2009) were Switzerland, Canada, China, and Italy. Switzerland provided 40% of the imports in 2008 and 30% of the $106 million in imports for the first five months of 2009. Switzerland’s imports in 2008 were extraordinary - about three times its annual imports for previous years. Switzerland provided 22%, Italy 16% and China 9%. No other country represented more than 4% of imports. China was the main driver of import growth, with 36% CAGR from 2004 to 2008.
Exports of Foodservice Cooking & Food-Warming Equipment
As with imports, the U.S. government tracks exports of two primary categories of foodservice cooking equipment: microwave ovens and equipment for cooking or heating food. Both are distinguished in the U.S. Harmonized Tariff Schedule from household-type equipment, with codes that note “of a kind used for domestic purposes” in the case of microwave ovens and “of a type used in restaurants, hotels or similar locations” in the case of equipment “for making hot drinks or for cooking or heating food.”
The U.S. exported $349 million worth of foodservice cooking equipment in 2008, representing 19% growth (CAGR) vs. 2004. In 2008, the top countries receiving exports from the U.S. were the U.K., Germany, Mexico, Australia, and Canada. Exports to Germany and Mexico have driven volume growth of U.S. exports, with CAGR of 42% and 22%, respectively.In the News
Growth in Global Foodservice Equipment Market: Five Key Factors Beyond the Recession
New York, August 31, 2009 - Even with the global recession, the $20 billion market for foodservice equipment is formidable and is expected to grow on the strength of five vital factors highlighted in World Market for Food Service Equipment, 5th Edition by leading industrial market research publisher SBI.
The five factors include environmental issues, lifestyle factors centered on consumers' food-related spending away from home, replacement foodservice equipment, new menu offerings and food trends that require the purchase of new equipment by foodservice operators, and technological innovations.
Within the environmental issues factor, energy efficiency and pollution reduction are particularly important to foodservice operators and foodservice equipment manufacturers as they can impact the bottom line, companies' images, and consumer perceptions. Such economic and environmental motivations can impact the sales of refrigeration and warewashing equipment, which are notoriously high users of energy.
SBI asserts that short-term industry growth will be driven by foodservice operators replacing old equipment. Beyond being a mere life cycle decision, replacing old equipment with new state-of-the-art technology ties into an energy efficient strategy for many operators seeking to reduce overall operating costs on their electric, gas, and water bills in today's difficult economic conditions.
"Although environmentalism is important, the economics of using less energy is a more immediate concern to foodservice operators," says Shelley Carr, publisher of SBI. "Today's energy efficient equipment may pay for itself in a relatively short period of time, driving sales because of the economy rather than in spite of it."
World Market for Food Service Equipment, 5th Edition makes important predictions and recommendations regarding the future of the global food service equipment industry, and pinpoints ways current and prospective players can capitalize on existing trends and spearhead new ones. Comprehensive data on the market, including U.S. shipments, imports and exports, international end-use markets (including consumers), and industry statistics are provided. The report also identifies key trends affecting the marketplace and profiles major manufacturers, along with their strategies used to maximize growth and profitability.
SBI (Specialists in Business Information) publishes research reports in the industrial, energy, building/construction, automotive/transportation and packaging markets. SBI also offers a full range of custom research services.