The global food service equipment market is valued at USD 36.54 billion in 2023 and is anticipated to grow with a healthy growth rate of 7.0% over the forecast period 2024-2032. The increasing demand for energy-efficient and technologically advanced kitchen solutions, along with the expansion of the food service industry, is fueling market growth. The rising number of restaurants, cafes, hotels, cloud kitchens, and institutional food services is significantly driving the need for innovative, high-performance kitchen and refrigeration equipment. Additionally, sustainability trends, evolving consumer preferences, and government regulations concerning food safety and energy consumption are key factors shaping the market.
The industry is undergoing a technological transformation with the adoption of IoT-enabled and smart kitchen appliances that enhance operational efficiency, improve food quality, and optimize energy usage. Moreover, the rising labor shortages in food service establishments are driving the adoption of automated and multi-functional kitchen equipment, which minimizes human intervention while maintaining food quality and efficiency. The growing influence of food delivery services, quick-service restaurants (QSRs), and cloud kitchens is further creating demand for highly durable, energy-efficient, and high-speed cooking and refrigeration solutions.
The expansion of food service chains globally is a crucial growth driver for this market. The QSR segment is expected to exhibit the fastest CAGR of 27.2%, fueled by increased demand for ready-to-eat meals, fast food, and online food delivery services. Additionally, the institutional food service sector, including hospitals, schools, and corporate cafeterias, is adopting advanced food preparation and storage equipment to ensure high efficiency and regulatory compliance.
The Asia-Pacific region dominated the food service equipment market in 2024, accounting for the largest revenue share of 36.9%, primarily due to the westernization of dining habits, rapid urbanization, and growth in tourism-driven food services in China, India, Indonesia, and Australia. Meanwhile, North America and Europe continue to be lucrative markets, driven by technological innovation, stringent food safety norms, and high consumer spending on food services. Latin America and the Middle East & Africa are witnessing steady market expansion, owing to increased disposable incomes, changing lifestyles, and a growing inclination towards dining out.
Major Market Players Included in this Report:
• Electrolux
• Welbilt
• Duke Manufacturing
• MEIKO Maschinenbau GmbH & Co. KG
• The Middleby Corporation
• HOSHIZAKI CORPORATION
• Hobart
• RATIONAL
• BUNN
• Cambro
• Ali Group
• ITW Food Equipment Group
• Vollrath Company
• Standex International Corporation
• Manitowoc Foodservice
The Detailed Segments and Sub-Segments of the Market are Explained Below:
By Product:
• Kitchen Purpose Equipment
Cooking Equipment (Grills, Fryers, Ovens, Toasters, Others)
Food & Beverage Preparation Equipment (Slicers, Mixers, Blenders, Juicers, Ice Crushers, Others)
• Refrigeration Equipment
• Ware Washing Equipment
• Food Holding & Storing Equipment
• Others
By End Use:
• Full Service Restaurant (FSR)
• Quick Service Restaurant (QSR)
• Institutional Food Services
• Others
By Sales Channel:
• Online
• Offline
By Region:
North America
• U.S.
• Canada
• Mexico
Europe
• UK
• Germany
• France
• Italy
• Spain
Asia Pacific
• China
• India
• Japan
• South Korea
• Australia
Latin America
• Brazil
• Argentina
Middle East & Africa
• Saudi Arabia
• South Africa
Years Considered for the Study are as follows:
• Historical Year: 2022
• Base Year: 2023
• Forecast Period: 2024 to 2032
Key Takeaways:
• Market Estimates & Forecasts for 10 years (2022-2032)
• Annualized revenues and regional-level analysis for each market segment
• Detailed analysis of geographical landscape with country-level breakdown
• Competitive landscape with insights on major players and their strategies
• Key investment opportunities and future market trends
• Demand-side and supply-side market analysis
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