Food Service Equipment Market by Product Type (Cooking Equipment, Storage & Handling Equipment, Ware Washing Equipment, Food & Beverage Preparation equipment and Serving Equipment) and End Use (Full-Service Restaurants & Hotels, Quick Service Restaurants & Pubs, and Catering): Global Opportunity Analysis and Industry Forecast, 2021–2030

Food Service Equipment Market Overview

The global Food Service Equipment Market was valued at USD 23.65 billion in 2020 and is predicted to reach USD 53.78 billion by 2030 with a CAGR of 8.9% from 2021-2030.

Food service equipment is used in commercial kitchens for the preparation and storage of food in large quantities, which not only saves time and money but also reduces operational costs. This includes different types of equipment such as ovens, refrigerators, freezers, grills, and many others. Food service equipment is also used to complement the theme and improve the aesthetic appearance of the outlet thereby enhancing the guest experience. This equipment plays a vital role in the food service industry for preparing and serving a variety of food items and is extremely popular in hotels and other full-service restaurants. They differ depending on the type of hospitality businesses and their requirements.

Market Dynamics and Trends

At present, the surge in the use of temperature-controlled equipment to store perishable food products is expected to drive the food service equipment market growth. Also, the constant demand for multipurpose, efficient, and cost-effective food service equipment to cater to the rising consumption of processed food all over the world is among the other factors expected to propel the market growth in future. Additionally, the growing online food service industry and the introduction of technologically advanced kitchen equipment are driving the growth of this market. Moreover, the evolution of smart kitchens, cloud kitchens, and other such establishments is contributing to the market growth. However, the high cost of food service equipment is expected to restrain the market growth during the forecast period.

Market Segmentations and Scope of the Study:

The global food service equipment market report is segmented on the basis of product type, end user, and geography. On the basis of product type, the market is segmented into cooking equipment, storage and handling equipment, ware washing equipment, food and beverage preparation equipment, and serving equipment. On the basis of end user, the market is segmented into full-service restaurants and hotels, quick-service restaurants and pubs and catering. Based on geography the market is segmented into North America, Europe, Asia Pacific and RoW.

Geographical Analysis

North America is anticipated to hold the lion's share of the market due to the early adoption of advanced kitchen equipment along with the growing demand for processed food in this region. Other factors such as the rising working population and the popularity of fast food are also contributing to the market growth.

However, the Asia-Pacific region is predicted to show rapid and consistent growth in terms of market share within the forecast period owing to the presence of major economies such as China, India, and Japan among others. Also, the improving standard of living in these countries has resulted in the expansion of hotels and restaurants, which in turn propels the food service equipment market growth in this region.

Competitive Landscape

Lucrative growth opportunities make the food service equipment industry extremely competitive. Some of the major players in the market are Cambro Manufacturing Co. Inc., Alto-Shaam, Inc., Duke Manufacturing Co. Inc., Castle Stove, Electrolux, Dover Corporation, Ali S.p.A, Illinois Tool Works Inc., Welbilt, Inc. and Middleby Corporation among others. Strategic alliances, acquisitions, innovations and R&D are key strategies adopted by market players to maintain market dominance. For instance, in November 2019, Middleby Corporation has acquired Brava Home Inc. as Middleby continues to focus on the most progressive technologies.

Key Benefits

• The food service equipment report provides a quantitative analysis of the current market and estimations through 2020-2030 that assist in identifying the prevailing market opportunities to capitalize on

• The study comprises a deep dive analysis of the food service equipment market trend including the current and future trends for depicting the prevalent investment pockets in the market

• The information related to key drivers, restraints and opportunities and their impact on the food service equipment market is provided in the report.

• The market share of the players in the global food service equipment market along with their competitive analysis.

• Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.

Food Service Equipment Market Key Segments

By Product Type

• Cooking equipment

  • Grills

  • Fryers

  • Ovens

  • Cooking & Bakery Utensils

• Storage and Handling Equipment

  • Refrigeration

  • Food Bags and Containers

  • Food Warmers

• Ware Washing Equipment

  • Utensil Washers

  • Dishwashers

  • Booster Heaters

  • Others

• Food and Beverage Preparation Equipment

  • Slicers

  • Peelers

  • Mixers, Blenders, & Grinders

  • Food Processors & Juicers

  • Food Preparation Tools

• Serving Equipment

  • Dinnerware

  • Glassware

By End User

• Full Service Restaurants and Hotels

• Quick Service Restaurants and Pubs

• Catering

By Geography

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • France

  • UK

  • Italy

  • Spain

  • Rest of Europe

• Asia-Pacific

  • Japan

  • China

  • India 

  • Australia

  • Rest of Asia-Pacific

• RoW

  • Brazil

  • UAE

  • South Africa

  • Remaining Countries

REPORT SCOPE AND SEGMENTATION

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