Evolving food industry trends and changing dynamics of manufacturing and delivering methods in the foodservice industry are primarily shaping the market for foodservice equipment. Sales would multiply at a promising CAGR of over 5% during 2019 – 2029, as projected by a new Future Market Insights (FMI) report.
Key Takeaways – Foodservice Equipment Market Study
- Food tourism – a new global trend especially in millennials has played a vital role in driving interest in food experiences and has led to increase in the number of food tour companies. This increase will continue to push demand for professional foodservice equipment for proper food handling and hygiene.
- Automatic, wireless, and aesthetic designs in foodservice equipment that fit in smaller floor spaces, and are amenable with rules set by regulatory bodies such as NSF, will gain more significance.
- Emergence of equipment with multifunctional capabilities will weigh heavy on conventional models in the near future.
- To gain an edge over competition and increase efficiency, restaurants and hotels are upgrading and replacing old foodservice equipment with convenient digital touch control foodservice equipment.
- By eliminating the usage of natural resources, key players are focused on introducing new equipment with energy efficiency capabilities, leading to improved cooking and production time.
- North America is projected to be a prominent regional market for foodservice equipment, owing to high demand for replacement and renovations, along with aftermarket parts and service offerings, especially in the U.S.
The demand for foodservice equipment is mainly defined by renovation activities and miniaturization of the equipment to fit in relatively small floor spaces. Product customization, with new space-saving installations in accordance with standards, rules, and codes will play an important role in the value chain of the market.
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Foodservice Equipment Market: Participant Insights
With more number of small-scale manufacturers having similar product offerings, the market structure would remain fragmented. Furthermore, the increasing number of players in the foodservice equipment market has been pushing manufacturers to include forward integration in terms of services and installation, by offering aftersales support. In terms of revenue, significant players such as Middleby Corporation, Welbilt, Ali Group S.r.l., ITW Food Equipment Group, AB Electrolux, Hoshizaki Electric Co., Ltd, Qingdao Haier Co., Ltd, and Rational AG together hold a significant share of market pie, backed by well-established sales networks and long-term partnerships with consumers.
Know More About Foodservice Equipment Market Report
The global foodservice equipment market report brings to fore an unbiased analysis of the global foodservice equipment market, contributing comprehensive information with historical demand data for 2014-2018, and forecast statistics for 2019-2029. Based on various categories such as equipment type, end use, sales channel, and region, the research study offers insightful aspects of the global foodservice equipment. A detailed value chain analysis regarding procurement, pricing analysis has been presented in the report.
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FOODSERVICE EQUIPMENT MARKET TAXONOMY
The global foodservice equipment market is segmented in detail to cover every aspect of the market and present complete market intelligence to the reader.
- Food Preparation Equipment
- Slicers & Peelers
- Mixers & Grinders
- Food Blenders
- Drink Preparation Equipment
- Drink Blenders
- Ice Crushers
- Cooking Equipment
- Heating & Holding Equipment
- Sauce Dispensers
- Refrigerators & Chillers
- Baking Equipment
- Countertops/Benchtop & Portables
- Other F&B Service Equipment
- Full Service Restaurant & Bars
- Quick Service Restaurant
- Indoor and Outdoor Caterers
- Hotels & Resorts
- Club Restaurants
- Commercial Canteens
- Institutions & Offices
- Physical Stores
- Online Platforms
- North America
- Latin America
- South Asia
- East Asia