The food service equipment market refers to the industry that produces and supplies equipment and appliances used in commercial food establishments, such as restaurants, hotels, cafeterias, and catering services. These equipment are designed to facilitate food preparation, cooking, storage, and serving.
The market for food service equipment has experienced significant growth in recent years due to various factors. Firstly, the rising global population and urbanization have led to an increased demand for food services, thereby driving the need for efficient and technologically advanced equipment. Additionally, changing consumer preferences and the growing trend of eating out have contributed to the expansion of the food service industry, further boosting the demand for equipment.
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According to a recent market analysis by FMI, global sales in the food service equipment market are expected to surpass a valuation of US$ 75.9 Bn in 2032, with demand growing at a 5.6% CAGR.
Rising awareness regarding for hygiene and safety of food and beverages being served in restaurants, along with stringent regulations imposed by regulatory authorities for food safety in commercial kitchens is spurring demand for effective Cooking Equipment.
Heating & Holding Equipment such as dishwashers, oil filters, water filters, ventilation exhaust, and other sanitation items are increasingly being adopted. Growing emphasis on easy-to-clean food processing equipment to save time and costs of maintenance is compelling manufacturers to launch innovative products.
Food Preparation Equipment is required to support the infrastructure of back-end product delivery, cold storage, and logistical chain for raw material supply. Freezers, dryers, and fryers are in high demand to extend the life of the provided item.
Demand for food service equipment is increasing in countries such as Brazil, Russia, India, and China, owing to consumers’ preference for ready-to-eat and convenience foods. This potential has arisen as a result of changing consumer lifestyles, fast-rising disposable income, and improved brand awareness.
“The emergence of cliud kitches in various countries, along with increasing preference for online delivery of fast food is expected to fuel sales in the market over the forecast period,” says an FMI analyst.
Key Takeaways:
- Based on product type, sales in the cooking equipment segment are projected to account for 32.1% of the total market share in 2022.
- In terms of applications, demand in the quick service restaurants segment will continue gaining traction.
- Sales in the China market are forecast to surge at a 8.1% CAGR through 2032.
- The U.S. will continue dominating the North America food service equipment market, with demand growing at a 6.7% CAGR.
- Germany will emerge as a lucrative pocket, accounting for 20.3% of the Europe food service equipment market share through 2032.
Who is winning?
Some of the top companies offering equipment are:
- Electrolux Professional
- Dover Corporation
- Middleby Corporation
- Duke Manufactures
- Tupperware Hobart Corporation
- Ali Group SpA
- Panasonic Corporation
- Welbit, Rational AG
- Libbey Inc.
- LG Electronics
- Robert Bosch
- Samsung Electronics
- ACP Solution Inc.
- Philips Electronics
- Haier Inc.
- Illinois Tool Works and others.
Get Valuable Insights into the Food Service Equipment Market
FMI, in its new offering, provides an unbiased analysis of food service equipment presenting historical demand data (2017-2022) and forecast statistics for the period from (2022-2032). The study divulges compelling insights on the demand for equipment based on Product (Food Preparation Equipment, Drink Preparation Equipment, Cooking Equipment, Warming, and Holding Equipment, Refrigerators & Freezers, Dishwashers, Other F & B), By Application (Full Service Restaurants, Quick Service Restaurants, Commercial Canteens) across seven major regions.
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Food Service Equipment Market Key Segments
By Equipment:
- Food Preparation Equipment
- Slicers & Peelers
- Mixers & Grinders
- Food Blenders
- Processors
- Others
- Drink Preparation Equipment
- Drink Blenders
- Juicers
- Ice Crushers
- Others
- Cooking Equipment
- Grills
- Fryers
- Ovens
- Toasters
- Others
- Warming and Holding Equipment
- Warmer
- Merchandizers
- Sauce Dispensers
- Refrigerators and Chillers
- Dishwashers
By Application:
- Full-Service Restaurants
- Quick Service Restaurants
- Commercial Canteens
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East and Africa
About the Food & Beverage Division at Future Market Insights
Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Future Market Insights helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analyzed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
Author
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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